10 Best Dividend Stocks to Buy for Dependable Dividend Growth

2. Lowe’s Companies, Inc. (NYSE:LOW)

5-Year Average Dividend Growth: 15.90%

Lowe’s Companies, Inc. (NYSE:LOW) is among the best dividend stocks for dependable dividend growth. Since going public in 1961, the company has paid regular dividends to shareholders and has raised its dividend for 60 consecutive years. In addition, it has boosted the payout by an average of over 16% over the past five years.

Investors worried about a housing slowdown may find reassurance in tight inventory, which often leads homeowners to invest in upgrades. While short-term renovation spending may fluctuate, demand tends to recover over time.

Despite economic concerns, long-term trends in home improvement remain strong. As confidence returns, Lowe’s Companies, Inc. (NYSE:LOW) is well-positioned to benefit, given its history of growth in this space.

Lowe’s Companies, Inc. (NYSE:LOW) currently offers a quarterly dividend of $1.20 per share and has a dividend yield of 2.27%, as of June 17.