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As the bull market continues to move upward, some of the stocks with price momentum are great dividend plays. These stocks have presented double-digit dividend growth over the past 5 years. The income investor can purchase a growing dividend with addition potential for capital gains. These stocks should be viewed as long-term buys for the dividend investor seeking current income that should outpace inflation in the coming years.

Magna International Inc. (NYSE:MGA) designs, develops, and manufactures automotive systems, assemblies, modules and components, and engineers and assembles vehicles to original equipment manufacturers of cars and light trucks in North America, Europe, Asia, South America, and Africa. MGA is trading at $47.25 with a PE of 11.2. On February 23 2012, MGA reported improved fourth-quarter results and boosted its quarterly dividend by 10%, while also raising its sales view for the current year. The North American auto-parts giant, based in Aurora, Ont., had net income of $311 million or$1.32 a share in the final quarter of 2011, up from $219 million or 89 cents a year earlier. Revenue rose 13% to $7.25 billion. MGA's stock price is up 43% year to date. MGA has a dividend yield of 2.27% with a 5-year annual dividend growth rate of 24%.

Microsoft Corporation (NASDAQ:MSFT) develops, licenses, and supports a range of software products and services for various computing devices worldwide. MSFT is trading at $31.81 with a PE of 11.5. The company's operating systems are installed on the majority of computers anywhere in the world. The huge core business, management's acquisition strategy and cost reduction initiatives are driving strong cash flows and earnings growth. We are also optimistic about its decision to support ARM, the agreement with Nokia and its growing search business. MSFT's stock price is up 23% year to date. MSFT has a dividend yield of 2.5% with a 5-year annual dividend growth rate of 15%.

Baxter International Inc. (NYSE:BAX) develops, manufactures, and markets products for people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions. The bolt-on acquisitions, new products and expansion in emerging markets are the key drivers for projected sales and EPS growth over the foreseeable future. The recent acquisitions of Baxa (drug delivery systems) and Synovis (surgical products) will add about $170M to sales this year. In addition, there is promise in the R&D pipeline, especially for new treatments for Alzheimer's and immune deficiencies. BAX is expected to buy back $1B of its stock this year. BAX's stock price is up 20% year to date. BAX has a dividend yield of 2.2% with a 5-year annual dividend growth rate of 15%.

Accenture plc (NYSE:ACN) operates as a management consulting, technology services, and outsourcing company. The company should continue to benefit from robust customer interest in ACN's IT and management consulting services. Additionally, IT outsourcing should be solid, as clients look for help containing costs and improving their operations. Over the long term, ACN is a well diversified across geographies, verticals and horizontals, which should give it an edge over competitors. ACN's stock price is up 20% year to date. ACN has a dividend yield of 2.1% with a 5-year annual dividend growth rate of 31%.

Limited Brands, Inc. (LTD) operates as a retailer of women's intimate and other apparel, beauty and personal care products, and accessories in the United States and Canada. With same-store sales up 14% at Victoria's Secret and 8% at Bath & Body Works through the third quarter in FY 2012, we expect a strong year for LTD. The company is benefiting from owning the intimate apparel and personal care/beauty categories in U.S. specialty retail. There is momentum in LTD's international business and the company has an opportunity to expand more rapidly to take advantage of global demand, notably for Victoria's Secret. LTD's stock price is up 19% year to date. LTD has a dividend yield of 2.1% with a 5-year annual dividend growth rate of 11%.

Source: 5 Bullish Stocks With High Dividend Growth Rates