With Warren Buffett warning that a gambling mood is gripping the stock market and the S&P 500’s CAPE ratio sitting at an extreme level, many investors are asking whether it still makes sense to stay invested or add fresh capital. One practical response is to focus on companies that have grown their dividends from solid earnings, rather than on fast trading or story stocks. This article looks at three dividend growth stocks from our screener that appear positively exposed to the current conditions, helping you think through where disciplined, fundamentals based stock selection might still make sense.

Great-West Lifeco (TSX:GWO)

Overview: Great-West Lifeco is a large Canadian insurer and asset manager that provides life and health insurance, retirement savings plans, wealth management products, and reinsurance services across Canada, the United States, and Europe under brands such as Empower, Canada Life, and Irish Life.

Operations: Great-West Lifeco generates most of its CA$32.8b business revenue from Canada (CA$12.3b), Europe (CA$8.5b), the United States (CA$6.0b), and Capital and Risk Solutions (CA$5.5b), with a smaller Corporate segment (CA$0.5b).

Market Cap: CA$82.4b

For investors worried about Warren Buffett’s “gambling mood” warning, Great-West Lifeco stands out as a large, diversified insurer with a history of dividend growth supported by earnings and capitalization. Its mix of retirement, wealth, and fee based asset management businesses is geared toward aging demographics and “money in motion.” Recent AI related investments are intended to improve efficiency and margins over time. At the same time, rising competition, fee pressure, funding entirely from external sources, and execution risk around digital transformation mean the stock involves risk. Analysts currently describe expectations for earnings and revenue growth as modest rather than explosive, so the key consideration is whether the market is pricing Great-West Lifeco conservatively or still expecting too much.

Great-West Lifeco’s blend of insurance, retirement, and asset management income can look steady on the surface, but the real story sits in how its earnings power stacks up against expectations in the analysis report for Great-West Lifeco

CVB Financial (CVBF)

Overview: CVB Financial is a US regional bank holding company for Citizens Business Bank, offering loans, deposit accounts, cash management, foreign exchange, and trust and wealth management services primarily to small and mid sized businesses and their owners in California.

Operations: CVB Financial generates about US$519.4m in revenue from its core Banking segment, all from within the United States.

Market Cap: US$4.0b

CVB Financial attracts attention from dividend focused investors because it combines a long record of consistent dividend increases with what analysts describe as robust earnings and revenue growth expectations, supported by expanding specialty banking, digital services, and wealth management fees. The new 15 million share repurchase program and ongoing quarterly dividends indicate a strong capital position and a clear focus on returning cash to shareholders, while management acknowledges risks related to California concentration, commercial real estate exposure, and rising competition for deposits and loans. With efficiency, expense control, and a growing fee base helping to balance those pressures, an important consideration is how effectively CVB Financial can translate its merger integration, buyback activity, and earnings profile into enduring value for patient income focused investors.

CVB Financial’s accelerating buybacks and steady dividends raise a key question: how much of the story is already priced in, and what could still surprise investors in the analysis report for CVB Financial

Credicorp (BAP)

Overview: Credicorp is a Peru based financial group that combines universal banking, microfinance, insurance, pensions, investment management, and medical services across Latin America and selected offshore centers, serving everyone from large corporates to microenterprises and retail customers.

Operations: Credicorp generates most of its PEN 21.2b business revenue from Universal Banking at Banco de Crédito del Perú (PEN 15.1b), with additional contributions from Pacífico Seguros and subsidiaries (PEN 1.9b), Mibanco microfinance operations in Peru and Colombia (PEN 2.4b), and Investment Management and Advisory (PEN 1.1b).

Market Cap: US$31.2b

Credicorp gives dividend growth investors a different option from US centric banks, combining leading market share in Peru with exposure to financial inclusion, digital wallets, and microfinance, all backed by resilient profitability and a growing dividend that has been raised four times in five years. At the same time, the group is tied closely to Peru’s politics and regulation, carries higher bad loans at 4.3%, and is investing heavily in digital projects that can weigh on costs if returns disappoint. Recent insider selling and a tax dispute underline the need for careful due diligence. How those strengths and pressure points fit together, and what they imply for dividend durability and valuation, is where the real story in Credicorp lies.

Credicorp’s mix of financial inclusion, microfinance, and digital projects could be masking a very different earnings path and dividend story than investors assume, and the analyst forecasts for Credicorp hints at where expectations may quietly be shifting

The three dividend growth stocks covered here are only a starting point, and the full Dividend Growth Stocks screener surfaces 27 more companies with similarly detailed dividend stories, payout profiles, and balance sheet strengths that might fit what you are looking for. Use Simply Wall St to identify and analyze the exact catalysts, earnings drivers, and dividend growth narratives that match your highest conviction ideas so you can focus quickly on the stocks that align most closely with your plan.

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If Credicorp or any of these companies sound like a great opportunity, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value the ideal entry point. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.