When it comes to dividends there’s nothing better than one that grows at a strong rate. When companies grow their dividends quickly a good yield turns into a fantastic yield for investors willing to buy and hold.

Let’s take my favourite dividend share Retail Food Group Limited (ASX: RFG) as an example. If you invested in its shares nine years ago when the share price was $1.60, you would have received a fully franked 6.2 cents per share dividend that year. That works out as a good (but not great) 3.8% dividend.

Fast-forward to today and not only has the share price increased 351%, but the company is expected to pay a fully franked 30 cents per share in dividends in FY 2016 according to CommSec. This means that you would be receiving a whopping yield on cost of 18.7%.

So if you had invested $50,000 in Retail Food Group’s shares nine years ago, you’d be receiving a fully franked dividend worth $9,375 this year. I believe this fantastic yield demonstrates how patient buy and hold investors can profit greatly if they invest smartly.

In light of this I’ve picked out four shares which I believe could provide investors with similar dividend growth in the future. Here they are:

Blackmores Limited (ASX: BKL)

The vitamin maker’s shares currently pay a fully franked 2% dividend. Having grown its dividend by an average of 13% per annum for the last 10 years, I would fully expect this level of growth to continue thanks to the rising demand for its products in the China market.

MNF Group Ltd (ASX: MNF)

The owner and operator of the My Net Fone brand has grown its dividend by an average of over 50% per annum for the last five years. Although only a small fully franked 1.2% dividend at present, thanks to the increasing demand for VoiP services this could be one that it pays to be patient with.

SEEK Limited (ASX: SEK)

The shares of SEEK may only provide a fully franked 2.2% dividend at present, but it has been growing this dividend at an average of 18% per year for the last 10 years. The strong growth prospects the company has makes it a great long-term buy and hold investment in my opinion.

WAM Capital Limited (ASX: WAM)

This fund manager has grown its dividend by over 12% in the last five years. With a market-beating fully franked 6.2% dividend today, this could be a great time to get on board in my opinion. At 16x trailing earnings its shares are trading a little under the sector average also.

Lastly, here's one more growing dividend to consider investing in today. Its fully franked dividend could prove to be a great investment in today's low interest rate environment. Better yet is the fact it could be classed as dirt cheap right now.

Forget companies cutting dividends like BHP and Rio Tinto when you can get GROWING dividends.

This "dirt cheap" company. is growing like gangbusters, and trading on a fat dividend yield, FULLY FRANKED. With interest rates set to stay at these low levels for years to come, for income-hungry investors, including SMSFs, this ASX company could be the "Holy Grail" of dividend plays for 2016. Click here to gain access to this comprehensive FREE investment report, including the name of this fast growing ASX dividend share. No credit card required.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Retail Food Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.