Dividend-growth stocks have historically produced the highest-total returns. That's why investors should take note of the recent raises that Microsoft, Verizon, and Realty Income have provided to their investors. With more growth ahead, they're in solid positions to produce above-average total returns in the future.

Microsoft said its next quarterly dividend would be 83 cents a share, up from 75 cents. It also announced a $60 billion share repurchase authorization.

Only three U.S. companies have ever announced buyback programs bigger than Microsoft’s latest — though the new dividend yield is still low relative to those of fellow Dow components.