15 stocks that have grown dividends the most — and nearly all have beaten the S&P 500

Dividend growth and total return are often linked, though not in the way many investors assume. A stock's current yield tells you what it pays today; dividend growth tells you how quickly that payout is compounding. Companies able to raise dividends consistently typically do so because earnings and cash flow are expanding — a signal of business durability that markets have historically rewarded.

The source notes that most of the 15 stocks with the largest dividend increases also outperformed the S&P 500, and that this pattern can hold even when a stock's yield looks modest at purchase. The mechanism is straightforward: reinvested, growing payouts add to price appreciation, and rising dividends can also draw income-focused buyers over time.

What to watch: whether these dividend increases are backed by sustainable payout ratios and free cash flow, or reflect one-off events. Past correlation is not a guarantee, and a high rate of dividend growth can slow if earnings falter.