Morningstar: These 10 dividend stocks have increased their payouts every year for the past 5 years and look cheap right now

• Growth stocks have soared higher this year on the back of artificial intelligence hype.
• Most dividend stocks have been left in the dust, but that means they’re cheap right now.
• Morningstar found 10 stocks that have consistently raised dividends every year for the last 5 years.

The S&P 500 has skyrocketed over 16% year-to-date, led by growth-focused tech stocks leading the AI revolution. But dividend stocks, their lower-growth, less exciting counterparts, have been left in the dust.

For instance, the S&P 500’s Dividend Aristocrats, a collection of stocks that have raised their dividends every year for the past 25 years, is up a mere 5% year-to-date. This group of blue-chip companies have, for the most part, traded funding growth for shareholder payouts, and the result is that many of them missed out on the rally this year.