When it comes to dividend-paying stocks, many investors think first of utilities and telecom services. "Investors are chasing the highest yield,” says Bob Zenouzi, lead manager of the Delaware Dividend Income Fund (DDIAX), "and that's where the slowest dividend growth is.”

If you're looking to increase the income component of your clients' portfolios over the longer term, it may pay to look past the usual suspects, as Zenouzi has. His fund favors dividend growth over high current yield, and he's been positioning it for gains in shareholder payments by making investments in the consumer discretionary, financials and technology sectors. Zenouzi observes that Microsoft raised its dividend 10% last fall. He also cites Apple and Intel as dividend growth stocks.

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