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Want to Grow a Passive Income Snowball? Buy These 7 Elite Dividend Growth Stocks.
Building passive income drives many investors toward dividend-paying stocks. Smart investors look beyond current yields to companies that consistently raise their payouts year after year, allowing a modest initial investment to grow into a substantial income stream over time.
The most successful dividend growers share three essential traits. A conservative payout ratio ensures the dividend remains sustainable through various business cycles. A history of annual increases demonstrates financial strength and a commitment to shareholders. Strong business fundamentals protect the cash flows that fund these growing payments.
Let’s examine seven companies that have demonstrated their ability to grow dividends reliably over time. From retail giants to tech leaders, each brings something unique to an income-focused portfolio.
TJX Companies (NYSE: TJX), an operator of off-price retail stores including T.J. Maxx, Marshalls, and HomeGoods, offers an attractive dividend profile. The company has increased its dividend at a 10.7% annual rate over the past five years, and a conservative 33.2% payout ratio supports its current 1.3% yield.
TJX trades at 26.3 times 2026 projected earnings, representing a premium to the S&P 500. The company benefits from its established sourcing network and ability to offer branded merchandise at significant discounts.
UnitedHealth Group (NYSE: UNH), America’s largest healthcare company by revenue, combines insurance services with its Optum healthcare delivery platform. The company’s dividend has grown at a 14.2% annual rate over the past five years, with a current yield of 1.49% supported by a 51.7% payout ratio.
At 16.5 times 2026 projected earnings, UnitedHealth trades at a discount to the S&P 500. The company’s integrated healthcare model and significant scale are key strengths in the fiercely competitive healthcare sector.
Microsoft (NASDAQ: MSFT), a leader in cloud computing and enterprise software, demonstrates consistent dividend growth. The company has increased its dividend at a 10.2% annual rate over the past five years, with its 0.78% yield supported by a conservative 24.8% payout ratio.
Microsoft trades at 28.2 times 2026 projected earnings, representing a premium to the S&P 500. The company’s cloud platform, Azure, and enterprise software generate substantial recurring revenue.
Texas Instruments (NASDAQ: TXN), a major producer of analog and embedded processing chips, offers an elite dividend program. The company has grown its dividend at an 11% annual rate over the past five years, offering a noteworthy 2.7% yield with an 89% payout ratio.
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UK based foreign exchange brand Travelex has announced that the company has undertaken a major expansion in the UAE, with the launch of 13 new stores across Abu Dhabi and Dubai airports.
At Zayed International Airport, Travelex is doubling its store footprint from seven to 14 stores, including six new on-the-move kiosk (OTM) locations at arrivals baggage, airside departures and pre-immigration, and one new traditional landside store. The new landside store will offer both a cash management service that will enable the airport’s businesses to process cash, as well as traditional consumer cash services, including access to 62 currencies.
Travelex initially entered Zayed International Airport in late 2023 with seven stores and eight ATMs. The new stores reflect the growing passenger demand and customer requirements of the UAE’s newest airport. As a dominant force in the capital’s aviation sector, Zayed International Airport rapidly affirmed itself as a key hub for air travel, solidifying its position as a vital player in the global travel landscape.
At Dubai International (DXB), Travelex is in the process of launching six new stores across all three terminals, including new traditional stores and stores upgraded from OTMS. Two ATMS dispensing AED were also installed at Terminal 3 Arrivals earlier this year. DXB has also seen a considerable post-pandemic growth in pax numbers, reinforcing its status as a leading hub for international travel.
The 13 new stores across Abu Dhabi and Dubai means Travelex will be operating 60 locations across the country. The latest IATA figures show that Middle Eastern airlines saw a 9.6% year-on-year increase in demand for June 2024, while capacity increased 9.4% year-on-year.
Batu Dölay, Managing Director, Travelex Middle East and Türkiye said:
“We’re delighted to be expanding our presence at two of the most exciting and dynamic airports in the world. This investment reflects the growing global reach and passenger numbers of our UAE airport partners, and our commitment to providing even greater access to international travel money than ever before.”
About Travelex
Founded in 1976 Travelex has grown to become one of the market leading specialist providers of foreign exchange products, solutions, and services, operating across the entire value chain of the foreign exchange industry in more than 20 countries. We have developed a growing network of ATMs and stores in some of the world’s top international airports, major transport hubs, premium shopping malls and city centres.
Travelex has built a growing online and mobile foreign exchange platform, and we also process and deliver foreign currency orders for major banks, travel agencies, supermarkets and hotels worldwide. In addition, we source and distribute sizeable quantities of foreign currency banknotes for customers on a wholesale basis – including central banks and international financial institutions. We also offer a range of remittance and international money transfer products around the world.
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