5 High-Growth Forever Dividend Stocks to Buy

In this article, we discuss 5 high-growth forever dividend stocks to buy. If you want to read our analysis of dividend stocks and their performance over the years, go directly to read 12 High-Growth Forever Dividend Stocks to Buy. 

5. Nordson Corporation (NASDAQ:NDSN)

5-Year Average Annual Dividend Growth Rate: 16.02%
Dividend Yield as of March 4: 1.17%

Nordson Corporation (NASDAQ:NDSN) is an Ohio-based company that designs equipment for consumer and industrial adhesives, coatings, and sealants. In February, KeyBanc upgraded the stock to Overweight with a $255 price target, highlighting the company’s ‘best-in-class’ returns and constructive capital allocation.

Nordson Corporation (NASDAQ:NDSN) is one of the high-growth dividend stocks on our list as the company has been raising its payouts consistently for the past 59 years. The company’s five-year annual average dividend growth rate stands at 16.02%. It currently pays a quarterly dividend of $0.65 per share and has a dividend yield of 1.17%, as of March 4.

In fiscal Q1 2023, Nordson Corporation (NASDAQ:NDSN) reported revenue of $610.4 million, which showed a 0.2% growth from the same period last year. The company’s operating cash flow for the quarter came in at $123.3 million, up from $118 million in the prior-year period.

As of the close of Q4 2022, 25 hedge funds in Insider Monkey’s database owned stakes in Nordson Corporation (NASDAQ:NDSN), compared with 26 in the previous quarter. The collective value of these stakes is over $284.3 million. Among these hedge funds, Balyasny Asset Management was the company’s leading stakeholder in Q4.