One stock that fits this criteria is Philip Morris International ( PM -0.65%). This misunderstood nicotine giant is posting strong revenue and earnings growth and currently has a dividend yield above 4%. Here's why this dividend growth stock can outperform the S&P 500 over the next decade.

To become a Dividend King, it takes fifty years of consecutive dividend increases - which is hard to pull off, regardless of company size, sector, or market share. So, there are less than seventy of them today.

The success of these three elite dividend growers shows in their market-crushing gains over the prior 10 years. Costco's 739.7% total return, along with Visa's 462% and AbbVie's 371% returns, demonstrates how combining competitive advantages with shareholder-friendly capital allocation builds substantial wealth.

NextEra Energy has two thriving energy businesses backing its 10% dividend growth target. American Water Works has a low absolute yield, but it is high historically and backed by reliably high dividend growth. If you're looking for dividend growth ...