USA TODAY

Dividends are great until you get your tax bill. But theres a way to get the economic buzz of dividends, but without the tax hangover.

There are 6 stocks in the Standard & Poors 500, including drugmaker Regeneron Pharmaceuticals (REGN). equipment renters United Rentals (URI) and satellite operator DirecTV (DTV) that pay no dividends but have delivered consistent economic benefits in another way. Each of these stocks gained by at least the dividend yield of the market in each of the past five years. They also delivered stock gains that beat the market even including the markets dividend yield in each of the past five years, according to a USA TODAY analysis of data from S&P Capital IQ.

Why is this such a magical formula? By generating stock price gains that routinely beat the market by at least the dividend yield of the market, these stocks turn into stealth tax shields. These stocks theoretically shift the gains that might have been paid as dividends to stock-price appreciation. Stock-price appreciation has tax benefits, the biggest being, taxes arent due on them each year.

The tax ramifications of these stocks pattern are huge. Rather than owing dividend tax rates on dividend income at the end of each year, investors owe nothing on capital gains as long as they dont sell. Some might not even owe taxes if they sell. And as a kicker investors have gotten even more. These six stocks have gained 49.1% over the past five years topping the 13.4% average annual gain of the S&P 500 during the same period.

You might think these stocks runs are destined to end, which is a legitimate concern. But each of these stocks have an 18-month price target by Wall Street analysts thats greater than the roughly 2% dividend yield currently paid by the market. The gain, without the tax pain.

United Rentals is a stock thats a perfect example of this tax-wise investing. The stock pays no dividend. But investors have been scoring, big time, without the tax hit. The stock last year, for instance, rose 30.9%. That gain easily topped the 11.4% gain of the S&P 500, even including the 1.92% dividend yield last year. And analysts are calling for the stock to leap another 18% this year.

Some of these companies make up for not paying dividends, and then some. Regeneron Pharmaceuticals, which is developing treatments for diseases like macular degeneration, has rocketed 84.6% a year on average the past five years. Dont think many investors will complain about missing out on a 2% market dividend yield.

Some giant caveats are in order with this strategy. Just because a company has managed to beat the markets returns doesnt mean that will last forever. Mohawk Industries (MHK) is a good example. The maker of floor coverings had beaten the market each year by 2% or more each year from 2010 to 2013. But that run ended in 2014, when the companys stock added 4.3%, falling short of the markets 11.4% gain.

Keep this in mind, too. Dividends are a bit more for-sure than counting on the vagaries of the stock market. Companies can cut or suspend their dividends, and many did during the financial crisis of 2008. But companies are very reluctant to lower their dividends. Theres also a timing consideration. You must hold stocks more than a year to qualify for the lower tax rates on capital gains. And most taxpayers will eventually own taxes on gains when they sell.

But even with those caveats, if you owned these stocks, you just kept some money out of Uncle Sams pockets.

S&P 500 STOCKS THAT PAY NO DIVIDEND BUT HAVE BEATEN THE MARKET EACH OF PAST FIVE YEARS BY THE AMOUNT OF THE DIVIDEND OR MORE