The tech sector is usually rather stingy when it comes to paying dividends. Many tech companies are earlier in their growth cycle and need to retain earnings to fund expansion. Meanwhile, those that generate lots of cash like to keep it on their balance sheet or use it to buy back shares.

However, a few tech stocks have quietly emerged as excellent dividend growth stocks. Intuit (INTU -1.52%) and Skyworks Solutions (SWKS -2.26%) are two that investors won't want to miss. They've grown their payouts rapidly in recent years, which should continue in the future.

Small but growing rapidly

It's easy to overlook Intuit's dividend. The financial technology platform offers a meager dividend yield of 0.6%. That's well below the S&P 500's 1.5% dividend yield.

However, what Intuit lacks in yield, it more than makes up for with growth. The fintech company has increased its payout every year since its inception in 2011. The company recently gave investors a 15% raise, boosting its quarterly dividend payment to $0.78 per share. Intuit has grown its dividend by an impressive 420% since initiating the payout. 

Intuit should be able to continue growing its dividend at a healthy clip in the coming years. The company produces a prodigious amount of cash to support its payout. Intuit generated nearly $3.9 billion in net cash provided by operating activities in its 2022 fiscal year while paying out $774 million in dividends. Meanwhile, the company has a solid balance sheet with $3.3 billion of cash against $6.9 billion of debt. That's enabling the company to invest in its continued expansion and buy back its stock. The company has made several needle-moving acquisitions in recent years (MailChimp and Credit Karma), positioning it for accelerating revenue growth through 2025. That should enable Intuit to continue growing its dividend at an attractive rate in the coming years.

A skyrocketing dividend

Skyworks Solutions offers a more attractive dividend given its higher yield that currently clocks in at 2.4%. The chipmaker recently gave its investors an 11% raise, bringing the quarterly payment to $0.62 per share. Skyworks has now boosted its dividend every year since initiating it in 2014, growing it by a spectacular 463%. 

The tech company also supports its dividend with a solid financial profile. Skyworks had $622.2 million of cash and marketable securities as of July 1st against $2.2 billion of debt. Meanwhile, it has generated $1.2 billion of net cash provided by operating activities through the first nine months of its fiscal year, covering its $237.7 million dividend outlay several times over. That enabled it to retain cash to fund its expansion and buy back a big chunk of its stock. 

Skyworks sees a lot of growth ahead, driven by several technology tailwinds, including mobile data expansion, the Internet of Things, 5G, AI, and other trends. Those driving forces should enable the company to grow its revenue at a heath rate while producing lots of cash. It has a long-term target of generating a 30% free cash flow margin. That will give it more money to support continued dividend growth.

Tech-powered dividend growth

Tech stocks aren't known for paying dividends, and it can be easy to overlook that some tech stocks have great dividend track records. That's certainly the case with Intuit and Skyworks Solutions, which have grown their dividends rapidly over the years. These upward trends should continue in the future, making them potentially attractive options for investors seeking growth and income.