The combination of the pandemic and several economic tailwinds has made home improvement a top sector for investors. As we’ve now spent more time in our homes from quarantining and working from home arrangements, consumers have broken out their wallets to improve them. Add in a dash of economic recovery and you have a recipe for strong profits. And our latest pick for the Best Consumer Discretionary Dividend Stocks List is reaping plenty of them.
The stock is one of the largest producers of appliances, kitchen gadgets, and other durable goods for homes. And since the pandemic began and the economy recovered, demand for our pick’s products has surged. Better still is that our pick has been able to pass on price increases to consumers to cover its rising feedstock costs.
As for growth, new forays into connected and smart appliances and gadgets are starting to pay off. With their energy efficiency and other higher tech perks, these gadgets come with higher price points to begin with. That’s helped strengthen our pick’s cash flows and made it a dividend giant.
With a growing 2.7% yield, low valuation and the expectation of it going ex-dividend on March 1 (estimated date), our pick makes an ideal selection to play the sector.
In order to make room for our latest durable goods pick, we had to remove a recreational vehicle and equipment maker.
You can check out the Best Consumer Discretionary Stocks List.
