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Dividend Growth Stocks

As 2020 starts, I like to look ahead and think about some dividend growth stocks for the New Year. But before I proceed, let’s first take a look at how I did from my last New Year’s quick picks. Last year, I suggested 3M Company (MMM), Illinois Tool Works (ITW), United Parcel Service (UPS), and Amgen (AMGN). Three out of my four picks were up in 2019. The total return for 3M Company was negative for 2019. In fact, the stock was one of three Dow Jones stocks with negative returns in 2019. However, Illinois Tool Works was up ~45%, United Parcel Service was up ~24%, and Amgen was up ~27%. This is not bad in absolute terms. For astute investors, the returns could have been even better if they took advantage of the price dips in mid-Summer.

The start of this year is different than the start of 2019. Last year at this time, the broader market was down. In fact, several of the indices including the Dow Jones Industrial Average (DJI), NASDAQ Composite (QQQ), S&P 500 (SPY), and Russell 2000 (IWM) were in bear market territory. But 2019 ended up being a very good year, and some of these indices are trading near record highs. Personally, my dividend growth stocks did decent for the most part with a few exceptions. However, we are at a markedly different starting point this January as opposed to last January when many stocks were bargains. But with that said, there are still pockets of value in the market. In this article, I provide three quick pick dividend growth stocks for 2020 that I view as buys. They are MSC Industrial Direct (MSM), Dollar General (DG), and 3M Company (MMM).

MSC Industrial Direct

MSC Industrial Direct is a Dividend Contender having raised the dividend for 16 consecutive years…

Please read the complete article at my profile on Seeking Alpha.


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Prakash Kolli is the founder of the Dividend Power site. He is a self-taught investor, analyst, and writer on dividend growth stocks and financial independence. His writings can be found on Seeking Alpha, InvestorPlace, Business Insider, Nasdaq, TalkMarkets, ValueWalk, The Money Show, Forbes, Yahoo Finance, and leading financial sites. In addition, he is part of the Portfolio Insight and Sure Dividend teams. He was recently in the top 1.0% and 100 (73 out of over 13,450) financial bloggers, as tracked by TipRanks (an independent analyst tracking site) for his articles on Seeking Alpha.

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