As the year comes to a close, volatility in the stock market remains strong. This can irk some investors, particularly during a period when stocks are in a downtrend, as they have been since the beginning of October.

One way to curb some of this volatility is to invest in stocks with robust dividends. The nice thing about dividends is that they are paid in every market, whether stocks are moving up or down. Even more, dividend payments from quality companies can grow over time. These cash payments ultimately give investors flexibility by giving them an income stream that can be reinvested, spent on living expenses, or used to beef up their cash positions.

One great dividend stock to consider is semiconductor company Texas Instruments (NASDAQ:TXN). Here are four reasons investors should love this company's dividend.

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1. Texas Instruments boasts a robust dividend yield

Currently, Texas Instruments pays a quarterly dividend of $0.77. Translating to $3.08 in annual dividend payments, this gives Texas Instruments a dividend yield (dividend payments as a percentage of a company's stock price) of 3.4%. This is significantly higher than the average dividend yield of stocks in the S&P 500 of about 2.2%. 

2. The dividend is growing fast

Texas Instruments' dividend has grown extremely rapidly recently. The company's dividend has increased at an average rate of about 21% annually over the last five years, with the company's most recent increase coming in at more than 24%.

With 15 years of consecutive dividend increases in the rearview mirror, more of the same are likely on the way in the coming years.

3. Management prioritizes its dividend

One key reason investors should love Texas Instruments' dividend is that management intentionally prioritizes its dividend payments. The company has said it maintains objectives not only to sustain its dividend but also to grow it. Further, alongside the announcement of its 24% dividend increase in September, management noted that "Dividend increases and share repurchases are integral pieces of TI's capital management strategy..." 

4. More growth appears likely

Some investors may wonder whether Texas Instruments can keep growing its dividend with so many strong dividend increases in recent years. However, a look at Texas Instruments' dividends relative to its free cash flow suggests there's plenty of room for further growth. Of Texas Instruments' $5.9 billion in trailing-12-month free cash flow, just $2.4 billion was paid out in dividends. With such strong free cash flow, and considering management's commitment to returning virtually all of its free cash flow to shareholders through repurchases and dividends, it's reasonable to expect more dividend growth in the coming years.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.