<p>投资于分红股票是一种很好的策略，原因有很多，包括它们为您提供的潜力，可以通过自动再投资其分红显著提升您的长期回报。此外，追求分红并不一定要以牺牲其他投资风格为代价。一些收入股票看起来也像是优秀的成长股票。</p>
<p>以下是两个例子：<strong>微软</strong>(MSFT -0.10%) 和 <strong>礼来</strong>(LLY 1.35%)。这两家市场领导者在华尔街上非常受欢迎。以以色列 “伊兹” 英格兰德为例，他是千禧管理公司的创始人兼首席执行官。微软和礼来均位列千禧管理公司的前十大持股中，前者在第三季度占投资组合的 1.71%，后者占 0.76%。在第三季度，英格兰德及其团队分别将对微软和礼来的持股增加了 51% 和 86%。</p>
<p>以下是投资者应该认真考虑跟随英格兰德的领导，购买这两家顶级公司的股票的原因。</p>
<h2>1. 微软</h2>
<p>虽然微软在云计算方面的工作往往吸引了大量关注，但该公司拥有稳健的分红记录。在过去十年中，微软目前每股年分红为 3.32 美元，并且其分红增加了令人印象深刻的 168%。尽管其前瞻性分红收益率为 0.74%——相比之下，<strong>标准普尔 500</strong> 的平均收益率为 1.32%——但其分红支付比率略低于 25%，这是一个保守的数字，为其进一步增长分红提供了充足的空间。</p>
<p>考虑到该公司自由现金流的良好增长，这并不令人惊讶。至于其低收益率，对于一家公司而言，其股价表现如微软般出色，这并不是一个令人担忧的问题。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f80c0c6d030f6fcd1e91afc2e309212f.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f80c0c6d030f6fcd1e91afc2e309212f.png"/></p>
<p>MSFT 自由现金流数据来自 YCharts</p>
<p>微软能够保持这种增长速度，得益于其业务中那些众所周知的方面。尽管这些产品不再是公司的主要增长驱动力，但这家科技巨头仍然是计算机操作系统市场的领导者。不过，微软在人工智能方面的参与正在产生影响。微软通过其 Azure 部门提供各种与人工智能相关的服务。</p>
<p>在截至 9 月 30 日的 2025 财年第一季度，微软的收入同比增长 16%，达到 656 亿美元，而其 Azure 收入增长了 33%。</p>
<p>与许多其他科技公司一样，微软一直在热衷于谈论人工智能对其业务的影响以及其增长速度。管理层表示，其人工智能部门有望在下个季度超过 100 亿美元的年收入运行率，这是其在全球最成功公司之一的漫长而辉煌历史中，任何其他业务部门都无法比拟的里程碑。因此，其收入和盈利增长在中期内应该保持相当强劲。</p>
<p>微软庞大的现金储备——其过去 12 个月的自由现金流接近 730 亿美元——以及其寻找有利机会的能力，应该使其在此基础上表现良好。这也将有助于资助其每股 3.32 美元的分红，提供 0.76% 的收益率。</p>
<p>这还不包括公司的护城河，源于其强大的品牌名称和云计算领域的转换成本。简而言之，微软是一只出色的分红增长股票——同时也是一只优秀的成长股票——适合长期投资者。</p>
<h2>2. 礼来</h2>
<p>礼来在过去几年的出色表现使其成为美国市值最大的医疗保健公司。这家制药巨头在减肥治疗领域取得了重要进展，其 GLP-1 抑制剂 Zepbound 的季度销售额已超过 10 亿美元，尽管它是在 2023 年 11 月才获得美国食品药品监督管理局的批准。</p>
<p>Zepbound 和糖尿病治疗药物 Mounjaro（它们是相同的基础药物），以及其他产品，如最近获得批准的阿尔茨海默病治疗药物 Kisunla，应该会在一段时间内推动强劲的销售增长。在第三季度，礼来的收入同比增长 20%，达到 114 亿美元。</p>
<p>此外，这家制药公司还有许多管道候选药物，可以增强其产品线。这些包括最近在三期研究中取得积极结果的实验性每周胰岛素产品。礼来还在临床试验中有下一代减肥候选药物，如 retatrutide，而二期候选药物如 muvalaplin（可能的治疗方法，用于降低脂蛋白 (a)）也看起来很有前景。</p>
<p>在制药巨头早期阶段的令人兴奋的项目中，有一项针对耳聋的实验性基因疗法，该公司在年初报告了一些令人鼓舞的结果。</p>
<p>如今，礼来最大的优势并不是 Zepbound，也不是其其他任何快速增长的产品。它是公司定期开发更新、更好药物的能力——这是它几十年来一直在做的事情，尤其是在糖尿病领域（尽管并非仅限于此）。这就是为什么礼来的股票看起来很有吸引力。分红使其更具吸引力。该公司在过去 10 年中将分红增加了 200%，其前瞻性收益率超过 0.77%，每股分红为 6 美元。</p>
<p>尽管礼来的支付比率看起来高达 78%，但这主要归因于公司决定通过收购和扩大生产能力来大力投资未来。该公司刚刚宣布将再花 30 亿美元扩建其最近收购的制造设施。自 2020 年以来，这家制药巨头已在类似项目上投入了 230 亿美元，希望能避免像最近未能满足 Zepbound 需求的问题。</p>
<p>在我看来，礼来的相对较高的派息比率并不值得担忧。该公司显然致力于在快速增长收入和盈利的同时增加派息。礼来是投资者结合增长和收入的另一个优秀选择。</p>

礼来

微软

<p>亿万富翁伊齐·英格兰德青睐两只股息增长股票：微软和礼来。微软的股息收益率为 0.76%，现金流强劲，正在人工智能和云计算领域扩展，展现出强劲的收入增长。礼来是美国最大的医疗保健公司，凭借其减肥药 Zepbound 和其他有前景的治疗方法蓬勃发展，实现了 20% 的收入增长。这两家公司都是英格兰德的千禧管理公司的主要持股，反映出它们在长期增长和股息方面的潜力</p>

<p>Investing in dividend stocks is a great strategy for many reasons, including the potential they offer you to significantly boost your long-term returns by automatically reinvesting their payouts. Furthermore, the pursuit of dividends need not come at the expense of other investment styles. Some income stocks look like excellent growth stocks, too.</p>
<div class="lb-trans"><p>投资于分红股票是一种很好的策略，原因有很多，包括它们为您提供的潜力，可以通过自动再投资其分红显著提升您的长期回报。此外，追求分红并不一定要以牺牲其他投资风格为代价。一些收入股票看起来也像是优秀的成长股票。</p>
</div><p>Here are two examples: <strong>Microsoft</strong>(MSFT -0.10%) and <strong>Eli Lilly</strong>(LLY 1.35%). These two market leaders are popular on Wall Street. Take Israel &#34;Izzy&#34; Englander, the founder and CEO of Millennium Management. Both Microsoft and Eli Lilly feature in Millennium Management's top 10 holdings, with the former accounting for 1.71% of the portfolio as of Q3 and the latter making up 0.76%. In the third quarter, Englander and his team increased their stakes in Microsoft and Eli Lilly by 51% and 86%, respectively.</p>
<div class="lb-trans"><p>以下是两个例子：<strong>微软</strong>(MSFT -0.10%) 和 <strong>礼来</strong>(LLY 1.35%)。这两家市场领导者在华尔街上非常受欢迎。以以色列 “伊兹” 英格兰德为例，他是千禧管理公司的创始人兼首席执行官。微软和礼来均位列千禧管理公司的前十大持股中，前者在第三季度占投资组合的 1.71%，后者占 0.76%。在第三季度，英格兰德及其团队分别将对微软和礼来的持股增加了 51% 和 86%。</p>
</div><p>Here is why investors should seriously consider following Englander's lead and purchasing shares of these two top corporations.</p>
<div class="lb-trans"><p>以下是投资者应该认真考虑跟随英格兰德的领导，购买这两家顶级公司的股票的原因。</p>
</div><h2>1. Microsoft</h2>
<div class="lb-trans"><h2>1. 微软</h2>
</div><p>While Microsoft's work in cloud computing tends to grab much of the attention, the company has a solid dividend track record. In the past decade, Microsoft currently boasts an annual dividend per share of $3.32 and has increased its payouts by an impressive 168%. Although its forward dividend yield is 0.74% -- compared to the <strong>S&amp;P 500</strong>'s average of 1.32% --its payout ratio is just under 25%, a conservative figure that gives it plenty of room to grow its dividend further.</p>
<div class="lb-trans"><p>虽然微软在云计算方面的工作往往吸引了大量关注，但该公司拥有稳健的分红记录。在过去十年中，微软目前每股年分红为 3.32 美元，并且其分红增加了令人印象深刻的 168%。尽管其前瞻性分红收益率为 0.74%——相比之下，<strong>标准普尔 500</strong> 的平均收益率为 1.32%——但其分红支付比率略低于 25%，这是一个保守的数字，为其进一步增长分红提供了充足的空间。</p>
</div><p>That's not surprising, considering that the company has been growing its free cash flow at a good clip. And regarding its low yield, for a company whose share price has performed as well as Microsoft's, it's not a cause for concern.</p>
<div class="lb-trans"><p>考虑到该公司自由现金流的良好增长，这并不令人惊讶。至于其低收益率，对于一家公司而言，其股价表现如微软般出色，这并不是一个令人担忧的问题。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f80c0c6d030f6fcd1e91afc2e309212f.png" alt="" original-src="https://media.ycharts.com/charts/f80c0c6d030f6fcd1e91afc2e309212f.png"/></p>
<p>MSFT Free Cash Flow data by YCharts</p>
<div class="lb-trans"><p>MSFT 自由现金流数据来自 YCharts</p>
</div><p>Microsoft can keep up this pace thanks to those aspects of its business for which it is well known. The tech giant remains the leader in the market for computer operating systems although those products are no longer the company's main growth driver. The company's involvement in AI, though, is having an impact. Microsoft offers various AI-related services through its Azure division.</p>
<div class="lb-trans"><p>微软能够保持这种增长速度，得益于其业务中那些众所周知的方面。尽管这些产品不再是公司的主要增长驱动力，但这家科技巨头仍然是计算机操作系统市场的领导者。不过，微软在人工智能方面的参与正在产生影响。微软通过其 Azure 部门提供各种与人工智能相关的服务。</p>
</div><p>In its fiscal 2025 first quarter, which ended on Sept. 30, Microsoft's revenue increased by 16% year over year to $65.6 billion, while its Azure revenue grew by 33%.</p>
<div class="lb-trans"><p>在截至 9 月 30 日的 2025 财年第一季度，微软的收入同比增长 16%，达到 656 亿美元，而其 Azure 收入增长了 33%。</p>
</div><p>Like many other tech companies, Microsoft has been gushing about the impact of AI on its business and how fast it is growing. Management said its AI unit is on track to surpass an annual revenue run rate of $10 billion next quarter, a milestone it will reach much faster than any other business segment in the long and impressive history of one of the most successful companies in the world. So its revenue and earnings growth should remain pretty strong in the medium term.</p>
<div class="lb-trans"><p>与许多其他科技公司一样，微软一直在热衷于谈论人工智能对其业务的影响以及其增长速度。管理层表示，其人工智能部门有望在下个季度超过 100 亿美元的年收入运行率，这是其在全球最成功公司之一的漫长而辉煌历史中，任何其他业务部门都无法比拟的里程碑。因此，其收入和盈利增长在中期内应该保持相当强劲。</p>
</div><p>Microsoft's massive cash stockpile -- its trailing 12-month free cash flow is nearly $73 billion -- and its ability to find lucrative opportunities should allow it to perform well beyond that. It should also help fund its dividend, which stands at $3.32 per share, providing a yield of 0.76%.</p>
<div class="lb-trans"><p>微软庞大的现金储备——其过去 12 个月的自由现金流接近 730 亿美元——以及其寻找有利机会的能力，应该使其在此基础上表现良好。这也将有助于资助其每股 3.32 美元的分红，提供 0.76% 的收益率。</p>
</div><p>That's before we mention the company's moat, which is derived from its strong brand name and the switching costs in its cloud computing segment. In short, Microsoft is a tremendous dividend-growth stock -- but also a great growth stock -- for long-term investors.</p>
<div class="lb-trans"><p>这还不包括公司的护城河，源于其强大的品牌名称和云计算领域的转换成本。简而言之，微软是一只出色的分红增长股票——同时也是一只优秀的成长股票——适合长期投资者。</p>
</div><h2>2. Eli Lilly</h2>
<div class="lb-trans"><h2>2. 礼来</h2>
</div><p>Eli Lilly's incredible performance in the past few years has turned it into the largest healthcare company by market capitalization in the U.S. The pharmaceutical giant famously made important progress in the weight loss treatment space, where its GLP-1 inhibitor, Zepbound, is already racking up sales of more than $1 billion per quarter, even though it was only approved by the Food and Drug Administration in November 2023.</p>
<div class="lb-trans"><p>礼来在过去几年的出色表现使其成为美国市值最大的医疗保健公司。这家制药巨头在减肥治疗领域取得了重要进展，其 GLP-1 抑制剂 Zepbound 的季度销售额已超过 10 亿美元，尽管它是在 2023 年 11 月才获得美国食品药品监督管理局的批准。</p>
</div><p>Zepbound and the diabetes treatment Mounjaro (which are the same underlying drug), as well as other products, such as its recently approved Alzheimer's disease treatment, Kisunla, should help drive strong sales growth for a while. In the third quarter, Eli Lilly's revenue increased by 20% year over year to $11.4 billion.</p>
<div class="lb-trans"><p>Zepbound 和糖尿病治疗药物 Mounjaro（它们是相同的基础药物），以及其他产品，如最近获得批准的阿尔茨海默病治疗药物 Kisunla，应该会在一段时间内推动强劲的销售增长。在第三季度，礼来的收入同比增长 20%，达到 114 亿美元。</p>
</div><p>Further, the drugmaker has plenty of pipeline candidates that could bolster its lineup. These include an investigational weekly insulin product that recently produced positive results in a phase 3 study. Eli Lilly also has next-generation weight loss candidates such as retatrutide in clinical trials, while phase 2 candidates like muvalaplin, a potential therapy to help lower lipoprotein(a), also look promising.</p>
<div class="lb-trans"><p>此外，这家制药公司还有许多管道候选药物，可以增强其产品线。这些包括最近在三期研究中取得积极结果的实验性每周胰岛素产品。礼来还在临床试验中有下一代减肥候选药物，如 retatrutide，而二期候选药物如 muvalaplin（可能的治疗方法，用于降低脂蛋白 (a)）也看起来很有前景。</p>
</div><p>Among the pharma giant's exciting programs in earlier stages is an investigational gene therapy for deafness, for which it reported some encouraging results at the beginning of the year.</p>
<div class="lb-trans"><p>在制药巨头早期阶段的令人兴奋的项目中，有一项针对耳聋的实验性基因疗法，该公司在年初报告了一些令人鼓舞的结果。</p>
</div><p>Eli Lilly's greatest strength today isn't Zepbound, nor any one of its other fast-growing products. It is the company's ability to regularly develop newer and better medicines -- something it has been doing for decades, especially (though not exclusively) in the field of diabetes. That's why Eli Lilly's shares look attractive. The dividend makes them even more so. The company has increased its payouts by 200% over the course of the past 10 years, its forward yield tops 0.77%, and its dividend per share stands at $6.</p>
<div class="lb-trans"><p>如今，礼来最大的优势并不是 Zepbound，也不是其其他任何快速增长的产品。它是公司定期开发更新、更好药物的能力——这是它几十年来一直在做的事情，尤其是在糖尿病领域（尽管并非仅限于此）。这就是为什么礼来的股票看起来很有吸引力。分红使其更具吸引力。该公司在过去 10 年中将分红增加了 200%，其前瞻性收益率超过 0.77%，每股分红为 6 美元。</p>
</div><p>While Eli Lilly's payout ratio looks high at 78%, that's largely attributable to the company's decision to invest heavily in its future through acquisitions and expansions of its manufacturing capacity. The company just announced it will spend another $3 billion to expand a manufacturing facility it recently acquired. Since 2020, the pharmaceutical giant has poured $23 billion into similar projects, which, it hopes, will help it avoid issues like its recent inability to meet the demand for Zepbound.</p>
<div class="lb-trans"><p>尽管礼来的支付比率看起来高达 78%，但这主要归因于公司决定通过收购和扩大生产能力来大力投资未来。该公司刚刚宣布将再花 30 亿美元扩建其最近收购的制造设施。自 2020 年以来，这家制药巨头已在类似项目上投入了 230 亿美元，希望能避免像最近未能满足 Zepbound 需求的问题。</p>
</div><p>In my view, Eli Lilly's relatively high payout ratio is no cause for concern. The company is clearly committed to increasing its payouts while it continues to grow its revenue and earnings rapidly. Eli Lilly is another excellent way for investors to combine growth and income.</p>
<div class="lb-trans"><p>在我看来，礼来的相对较高的派息比率并不值得担忧。该公司显然致力于在快速增长收入和盈利的同时增加派息。礼来是投资者结合增长和收入的另一个优秀选择。</p>
</div>

2 Dividend-Growth Stocks That Billionaire Izzy Englander Loves

- 投资于分红股票可显著提升长期回报，且不影响其他投资风格。  
- 微软和礼来是市场领导者，分别在 Millennium Management 的前十大持股中占比 1.71% 和 0.76%。  
- 微软和礼来的分红增长和强劲业绩使其成为投资者的优选。  

亿万富翁伊齐·英格兰德钟爱的两只股息增长型股票