Dividend stocks are proven wealth builders. The average dividend stock has delivered above-average annual total returns over the long term, with the highest returns coming from companies that consistently increase their dividends. The average dividend grower has delivered a 10.2% annualized total return over the last five decades compared to 7.7% for the average member of the S&P 500, according to data from Hartford Funds and Ned Davis Research.

That data is driving me to load my portfolio with dividend growth stocks. I try to buy several each month to help build my wealth. Topping my list this September is Brookfield Renewable (NYSE: BEPC)(NYSE: BEP) and Rexford Industrial Realty (NYSE: REXR). Here’s why I plan to buy even more of these top dividend stocks this month.

A powerful income generator

Brookfield Renewable has done a stellar job increasing its dividend over the years. The leading global renewable energy producer has grown its payout at a 6% compound annual rate over the last 20 years. It has delivered at least 5% annual dividend increases for 13 straight years.

The company’s high yield, which currently sits around 5%, and its steadily growing dividend have helped give it the power to produce strong total returns. Over the last decade, Brookfield has generated a 10.8% average annual total return.

Brookfield Renewable should have ample power to continue increasing its dividend in the future. It expects to grow its funds from operations (FFO) by more than 10% annually through 2028. Several factors power that forecast. Brookfield expects organic growth drivers like inflation-linked contractual rate increases, margin enhancement activities, and its massive renewable energy project development pipeline to drive 7% to 12% annual FFO per share growth through 2028. Meanwhile, it anticipates accretive acquisitions pushing its growth rate above 10% annually. This forecast easily supports its plan to grow its dividend by 5% to 9% annually over the long term. Add its high yield to its high growth rate, and Brookfield Renewable could generate average annual total returns in the mid-teens from here.

Focusing on a prime location continues to pay big dividends

Rexford Industrial Realty has been a dividend growth juggernaut. The industrial REIT has increased its payout every year since coming public in 2013. It has delivered a blistering 18% compound annual dividend growth rate over the last five years, nearly double the 10% compound annual growth rate of its peers. That has helped drive a roughly 15% compound annual total return for its shareholders since it came public.

The REIT has grown briskly by focusing on the high-demand, supply constrained Southern California industrial market. Those market fundamentals keep occupancy rates high, which drives robust rent growth. Rexford Industrial Realty further capitalizes on that market by making accretive acquisitions.

Rexford Industrial Realty recently bought a high-quality portfolio of 48 properties from Blackstone in a $1 billion deal. Those properties come with embedded growth upside from future rental increases. That acquisition helped drive a 20.9% increase in the REIT’s net operating income in the second quarter and an 11.1% jump in its core FFO per share.

The company has lots of embedded growth ahead from that baseline. It sees a combination of repositioning and redevelopment projects, embedded annual contractual rental increases, mark-to-market rent growth as legacy leases expire, and recent investments growing its net operating income by 35% over the next three years. Meanwhile, future accretive acquisitions would further enhance its growth rate. With a fortress-like balance sheet, Rexford has ample liquidity to capitalize on accretive acquisition opportunities as they arise. Those visible growth catalysts should enable the REIT to continue increasing its dividend, which currently yields more than 3%.

Wealth-building dividend growth stocks

Brookfield Renewable and Rexford Industrial Realty have done fantastic jobs increasing their dividends over the years. That’s enabled them to grow value for shareholders by delivering strong total returns. They both have lots of visible growth ahead and should have no trouble increasing their payouts and generating strong total returns in the future. That’s why I plan to add to my positions in each one again this month.

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Matt DiLallo has positions in Blackstone, Brookfield Renewable, Brookfield Renewable Partners, and Rexford Industrial Realty. The Motley Fool has positions in and recommends Blackstone, Brookfield Renewable, and Rexford Industrial Realty. The Motley Fool recommends Brookfield Renewable Partners. The Motley Fool has a disclosure policy.

2 Top Dividend Stocks I Plan to Buy Even More of This September was originally published by The Motley Fool