Thanks to the sharp jump in interest rates, new car sales are starting to dwindle. While that may be painful for the dealers and auto manufacturers, it’s been a boon to other parts of the industry. Namely, those firms that provide parts and services to keep all the older cars running. Our Best Dividend Protection Stocks Model Portfolio pick is one of the best.
Our pick is a leading distributor of nuts, bolts and other products for the automotive and industrial sectors. This fruitful niche works as many of these items are often need-it-now things that are not available via online shopping due to size constraints. This fact, along with its massive presence, has made our pick a cash flow and dividend machine for decades.
With new avenues for growth and a long history of stability, our pick makes an ideal income stock for conservative investors. Watch for when the stock goes ex-dividend on Friday, June 17 (estimated date).
You can check out the Best Dividend Protection Stocks Model Portfolio to explore all the stocks.
