Dividend stocks aren't just sources of short-term passive income. If you pick the right ones, they can be some of the best investments to grow your wealth manyfold over time.
Is this energy giant about to hike its dividend?
Chevron (CVX -0.98%) is one of the world's largest oil and natural gas producers, and it can make a lot of profits in a high oil price environment.
Chevron's free cash flow more than doubled to $29 billion in the first nine months of 2022, and the cash and cash equivalents it had on its books jumped by 170% to $15 billion between Dec. 31, 2021, and Sept. 30, 2022.
Clearway Energy(CWEN -1.08%) (CWEN.A)
Clearway Energy expects to grow its cash available for distribution by almost 17% in 2023.This year, management boosted the dividend by a solid 8%, and said it was confident that it would be able to hike it by 5% to 8% annually through 2026.
Brookfield Infrastructure has grown rapidly this year. In the first nine months of 2022, its funds from operations grew by 22% year over year, and the company increased its dividend by 6% in the third quarter.
Brookfield Infrastructure has grown rapidly this year. In the first nine months of 2022, its funds from operations grew by 22% year over year, and the company increased its dividend by 6% in the third quarter.