3 fast-growing dividend shares to buy today

Although I think the Telstra Corporation Ltd (ASX: TLS) dividend is a great option for income investors right now, I’ll happily admit that I don’t see this dividend increasing any time soon.

Which means that investors looking for dividends on the rise may be better off looking elsewhere.

Three growing dividends that I would suggest these investors look at are listed below. Here’s why I like them:

Dicker Data Ltd (ASX: DDR)

Over the past five years this wholesale computer hardware and software distributor has grown its dividend by an average of 25.7% per annum. Although this growth rate is expected to slow to 10% this year, this is due largely to the loss of a contract in New Zealand. Furthermore, I don’t think a 10% rise in the current environment is to be sniffed at. Especially considering this will raise its annual dividend to a fully franked 18 cents per share, the equivalent of a forward 6.3% yield based on its last close price.

Domino’s Pizza Enterprises Ltd. (ASX: DMP)

Although not known as a dividend share, this pizza chain operator has an impressive track record of dividend increases. Over the last 10 years Domino’s has lifted its dividend by an incredible average of 27.6% per annum. In the past these dividend increases have gone largely unnoticed due to its shares trading on high multiples and providing only paltry dividend yields. But in light of its sizeable share price decline, I think Domino’s is now becoming an attractive option for income investors. At present Domino’s shares offer a trailing fully franked 2.9% dividend and analysts expect this to grow by over 20% per annum for the next couple of years.

Greencross Limited (ASX: GXL)

This integrated pet care company has been able to grow its dividend by an average of 19% per annum over the past five years. Although this is expected to slow over the next two years, this would still make a generous dividend even more attractive. At present Greencross’ shares offer a trailing fully franked 3.7% dividend. And if the company’s in store veterinary clinic roll out goes better than expected, the company may be in a position to grow its dividend at an even quicker than predicted rate.

Looking for more growing dividends? Then look no further than these.

Breaking news: ASX companies set to raise dividends!

It's been a nail-biter of a reporting season here in the first half of 2018.

But the real action, in my opinion, is what companies are doing with dividends.

What does this mean for you? Well there is one stock I've found that could very well turn out to be THE best buy of 2018. And while there's no such thing as a 'sure thing' when it comes to investing - this ripper might come as close as I've ever seen.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited, Greencross Limited, and Telstra 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 Scott Phillips.

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