5 Dividend Growth Stocks with Highest Growth Rates

In this article, we discuss 5 dividend growth stocks with highest growth rates. If you want to read our detailed analysis of dividend growth stocks and their overall performance, go directly to read 14 Dividend Growth Stocks with Highest Growth Rates. 

5. Microchip Technology Incorporated (NASDAQ:MCHP)

3-Year Average Annual Dividend Growth Rate: 29.30%

Microchip Technology Incorporated (NASDAQ:MCHP) is an Arizona-based provider of microcontrollers and analog semiconductors. The company offers a quarterly dividend of $0.45 per share, growing it by 2.5% in February this year. This was the company’s 80th dividend hike since the inception of its dividend policy in 2003. With a 3-year average annual dividend growth rate of nearly 30%, MCHP is one of the best dividend stocks on our list. The stock has a dividend yield of 2.08%, as of April 23.

As of the end of Q4 2023, 43 hedge funds tracked by Insider Monkey held stakes in Microchip Technology Incorporated (NASDAQ:MCHP), up from 42 in the previous quarter. These stakes are worth nearly $840 million in total.