5 Dividend Growth Stocks with the Highest Growth Rates

2. Nordson Corporation (NASDAQ:NDSN)

12-Month Dividend Growth Rate: 28%

Nordson Corporation (NASDAQ:NDSN) is an American multinational company, based in Ohio. The company mainly designs equipment for consumer and industrial adhesives, coatings, and sealants. In Q4 2022, the company reported an operating profit of $683.5 million, up 17% from the same period last year. Its operating cash flow at the end of October 2022 amounted to over $513 million.

Nordson Corporation (NASDAQ:NDSN), one of the best dividend growth stocks, currently offers a quarterly dividend of $0.65 per share. In the past 12 months, it has raised its payout by 28% and maintains a 59-year track record of consistent dividend growth. The company’s shares yield at 1.07%, as of February 13.

As of the end of the September quarter, 26 hedge funds tracked by Insider Monkey owned stakes in Nordson Corporation (NASDAQ:NDSN), up from 23 in the preceding quarter. These stakes have a total value of over $146.8 million. Among these hedge funds, Balyasny Asset Management was the company’s largest stakeholder in Q3.

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