Simple luxuries. Despite inflationary pressures, consumers continue to spend on products and services that provide them with joy. And if those products come with low prices, it’s even better. That fact has benefited our newest Best Dividend Growth Stocks Model pick in a big way. The firm has been able to drive its niche for decades and has managed to increase its dividend for the last 10+ years!
The secret is in that niche. Our pick is one of the largest candy and baking goods producers in the nation. It continues to leverage its massive catalog of brands to its advantage, boosting cash flow and seeing rising revenues.
Growth can be had with an increasing trend in baking and holiday treats. Consumers continue to spend money on experiences and holiday food versus physical goods, which has helped drive sales during the third quarter – and now into the fourth quarter as well.
With recent acquisitions in snack foods under its belt, our pick is poised for growth and looking to improve its dividend growth track record.
In order to make room for our new confectionery pick, we’ve been forced to remove an independent power producer from the list.
You can check out the Best Dividend Growth Stocks Model Portfolio to explore all the stocks.
