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Playing Dividend Growth Stocks in a Rising Rate Environment

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.

Read MoreInterest rates have been on the rise over the past several weeks and dividend paying stocks have been noticeably hit hard.

Yet Brian Belski, BMO Capital Markets Chief Strategist thinks rising rates are not a dividend growth stock killer.

Belski says "while these stocks are bond-like in nature, we believe the poor performance of certain dividend stocks has been unjustified."

Dividend growth has been a main theme for BMO Capital Markets' investment strategy and Belski says interest rate trends have not changed their view.

Belski believes "the recent weakness in these stocks has created a timely investment opportunity for investors."

Two Dividend Growth Stock Picks from Belski are Boeing and Home Depot. Boeing is up 9.5% year-to-date. Home Depot is up 5% year-to-date.