3 High-Growth Dividend Stocks I’m Buying (July 2024)

Double-digit dividend growth.

That’s this month’s theme.

And while most dividend growth monsters usually trade at premium valuations, there are several companies that trade at extremely reasonable price to earnings ratios.

If you like cheap dividend stocks that outpace inflation, you’re going to love this article!

1. Bank OZK ($OZK)

Bank OZK is a high-yield dividend stock that’s known for raising its dividend every quarter.

This has given the company an incredible 5-year compound annual dividend growth rate of 11.77%. But that’s not all. Bank OZK is also a high yielder, paying a 3.80% starting dividend.

So, new investors get a large starting yield and rapid dividend growth.

And, Bank OZK’s dividend payout ratio is only 24.16%. This means the distributions are well-covered with plenty of room for future growth.

Additionally, Bank OZK sold-off recently due to a negative report from Citi (you can read more details here) and I believe the stock is now undervalued with potential…