The housing market has been on fire. With home purchases come new home projects, and our latest pick is a giant within the home retailer industry – an industry with an addressable market of over $900 billion. We decided to tap into that market with our latest Consumer Discretionary Dividend Stocks List pick.
Despite its core strengths, shares of our latest pick have sold off due to rising interest rates. However, the outlook for the home improvement market remains favorable. The number of aging homes in the U.S. supports the growth of the repair and remodel market. Homebuyers may be more selective, but they also tend to like older, more affordable homes. Or they may opt to stay in their current residence and update it. These homes won’t renovate themselves, and disposable income remains high.
Plus, our pick just raised its dividend – signaling strength and a positive growth outlook. The safest dividend is the one that was just raised. The ex-dividend date is set for Wednesday, June 1 (estimated date).
To clear the way for this discounted blue-chip growth stock, we also removed a restaurant operator from our list.
You can check out the Best Consumer Discretionary Stocks List to explore all the stocks.
