Dividend Growth Rate.

The annualized percentage rate at which a company increases its dividend payment over time. Consistent dividend growth — not just a high current yield — is the hallmark of financially healthy, shareholder-friendly businesses. The dividend discount model (Gordon Growth Model) uses the expected perpetual growth rate to estimate intrinsic value: price equals next year's dividend divided by the discount rate minus the growth rate. Companies with 10+ consecutive years of dividend increases are called Dividend Achievers; 25+ years earns the Dividend Aristocrat designation.