Long-term investors love the idea of compounding — that is, continuing to increase sales, earnings, cash flow or dividend income for an accelerating growth rate over time.

Below is a list of the best dividend compounders among the S&P 500 SPX, subject to a few parameters. Many of these stocks had rather modest dividend yields five years ago, but for investors who bought then, the current payouts have risen so much that yields on the shares held for five years range as high as 9.20% (for Best Buy Co. Inc. BBY).

With...