With the midterm elections starting to heat up, there’s one industry that will benefit no matter the results. We’re talking about the defense industry. Defense spending is one issue that both sides of the aisle can agree upon. And that’s why the latest pick for our Best Dividend Growth Stocks Model Portfolio is top notch.
Our pick is one of the largest defense contractors out there, featuring a portfolio of various aerospace and weapons programs, including many that Uncle Sam and other foreign governments want in their arsenal. This is evident by the firm’s massive $60+ billion in revenues recorded in 2021, which is about $3 billion more than the previous year.
While the midterm elections are expected to be contentious, defense spending is still set to rise no matter who wins office. This will only benefit our pick further and help strengthen its cash flows – cash flows that have supported over two decades’ worth of dividend increases.
With a low valuation and strong 2.9% yield, our pick’s position on our Dividend Growth portfolio has been affirmed. The stock will go ex-dividend on Monday, February 28.
You can check out the Best Dividend Growth Stocks Model Portfolio to explore all the stocks.
