Next week, Home Depot (NYSE:HD) will deliver its 109th consecutive quarterly dividend payout to investors, extending a streak that goes back almost 30 years. And at 2.3%, the current yield is nothing to sneeze at. But it could be just the beginning: Home Depot's dividend looks primed for a big increase from here.

In the video below, Fool contributor Demitrios Kalogeropoulos explains why, noting that Home Depot's payout is only about one-third of its earnings, which is well below the broader stock market's average of 50%. The retailer's spiking profit growth also gives it ammunition to hike that payout in the years ahead. And finally, thanks to the billions in cash that Home Depot has been allocating to share repurchases lately, its outstanding share count is dropping like a stone, making it easier for the retailer to boot that per-share dividend without forking over a much higher overall payout.

Watch the video below for Demitrios' full take.