Fidelity Dividend Growth Fund
Expenses: 0.62%*
Minimum Investment: $2,500*
Dividend Yield: 1.45%
In a similar vein, Fidelity Dividend Growth Fund (FDGFX) is not about high current dividend yield. Instead, this investment is intended to provide increasing income over time, while also using dividend growth as a measure of quality of its holdings.
Like LBSAX, this Fidelity dividend fund skews large-cap, with a mean market capitalization of $94 billion. FDGFX also is positioned in the middle of the value-growth spectrum, so it’s not all slow-growth blue chips — you also have “growthier” top holdings such as Apple Inc. (AAPL) and biotech Amgen, Inc. (AMGN).
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While the yields on those stocks (1.6% and 2.5%, respectively) aren’t anything to scream about, the dividend growth is considerable. Consider that Amgen’s last hike in late 2016 was a 15% boost, and that earlier this year, Apple upped the ante on its 5-year-old dividend by 10.5%.
Check out FDGFX’s provider page for more information.
* Other share classes, available depending on the type of investor and the type of account you’re using, may have different expenses and minimum investments.