These companies are likely to reward investors with special dividends and outperformance, Morgan Stanley says

A select group of stocks might be primed to offer investors an appealing combination of unexpected income and price appreciation, according to Morgan Stanley. Special dividends – one-time payments companies make to shareholders outside of their regular dividend cycle – tend to result in higher share prices, according to Todd Castagno, a strategist at Morgan Stanley.

Alphabet made Morgan Stanley's list. Earlier this year, the tech giant authorized its first dividend of 20 cents per share, along with a $70 billion share repurchase. The Google parent's shares are up more than 30% this year, and they offer a modest dividend yield of 0.4%.

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