Inflation remains a real worry for many consumers and they have cut back their spending in a lot of categories. But for those in must-have areas, spending remains strong. Luckily for our latest Best Dividend Growth Stocks Model addition it just so happens to be in the right category at the right time. In fact, it’s always in the right place, at the right time. This has allowed it to grow its dividend for a decade by a big 12% annual rate over the last five years!
You can check out the Best Dividend Growth Stocks Model Portfolio to explore all the stocks.
The key is that our pick produces snack foods. Snacking is big business, one that consumers are willing to pay some hefty bucks for. In that, our pick has been able to charge a few dollars more to cover its own rising costs. This has helped on the profit front and keep its cash flow growing during the current market environment.
Better still, our pick’s massive brand portfolio has been leveraged in a variety of new tangential products and flavors, while acquisition growth has moved new brands into the mix. This combination has provided meaningful growth to its bottom line.
The best part is that investors have continued to see growth as well through dividend increases and buybacks.
