The Ultimate Dividend Growth Stock to Buy With $1,000 Right Now

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Proven income-generating names like Coca-Cola and Duke Energy are always viable options.If you're looking for a name that's not only built to last but also built to seriously grow its dividend payment, however, consider something that's already well established in a young industry that's also poised to grow -- a lot -- for the foreseeable future ... a name like Equinix (NASDAQ: EQIX).Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »Image source: Getty Images.It's not a household name. But there's a very good chance you or someone living in your household regularly benefits from its service. Equinix operates more than 270 data centers in 77 different locales, serving over 300 Fortune 500 companies. It did $9.2 billion worth of business last year, turning $1.35 billion of that into net income, and extending single-digit-but-steady growth that's been in place for nearly three decades now.Perhaps more relevant today, Equinix offers a whole lineup of artificial intelligence (AI) solutions like AI training (including inference), autonomous service agents, and more. This, of course, has been and should remain a major growth driver. An outlook from Precedence Research suggests the worldwide AI data center industry is poised to grow at an average annualized pace of more than 27% through 2035.However, this tailwind isn't the only reason you might want to consider stepping into this stock while its forward-looking dividend yield stands at 2.2%. It's not even the crux of the reason; 2.2% isn't an especially high yield anyway. Neither is its 11 consecutive years of per-share payment growth.Rather, Equinix is a compelling income prospect because it's structured in such a way that's ideal for the nature of the business it's in.That structure is a real estate investment trust, or REIT, for short. While REITs trade on stock exchanges, these are actually companies that own revenue-bearing real estate. This real estate is typically properties like apartment complexes, office buildings, or shopping centers. It can also be data centers, though, which similarly produce recurring monthly income.REITs enjoy a distinct advantage that most conventional companies don't. That is, as long as at least 90% of any profits are passed along to shareholders in the form of dividends, it isn't first taxed at the corporate level. They must pay out most of their earnings as dividends, in fact, to maintain their tax-friendly classification. 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