Many stocks pay a dividend. But not every dividend stock is worth owning.

Some companies may be on the verge of cutting their dividends, thus giving a false impression of high dividend yield.

Other companies could see their business languishing, thus choosing to pay out more cash because of an absence of growth opportunities.

Though dividends may be increasing, the core business may continue to decline and result in capital losses for investors.

Ultimately, you should be looking at how the business is performing to determine if it can continue to churn out consistent dividends.

When you focus on the select few dividend champions, you may be rewarded by stocks that can continue to pay rising dividends over the years.

There are specific attributes to watch out for when it comes to locating a great dividend stock.

Here are two of them.

Consistent, strong free cash flow