2 Dividend Stocks That Have Doubled Their Payouts in 5 Years

For a dividend to double in five years, a company would need to raise its quarterly payments by an average of just under 15% per year. Thermo Fisher Scientific (NYSE: TMO) and FedEx (NYSE: FDX) are businesses with solid financials that have been making generous dividend hikes in recent years. Thermo Fisher is a top healthcare company that generates revenue from diverse revenue streams, including laboratory products, diagnostics, life sciences solutions, and analytical instruments.