The offense these days may be a strong defense – as a defense contractor. With the Russian crisis continuing to escalate and the world on high alert, firms that provide defense and weapons systems have been riding high. Our latest Best Dividend Protection Stocks Model Portfolio pick is a great one to own.
Our pick is one of the largest defense contractors on the planet. Key has been our pick’s niche among its rivals. Yes, it has plenty of aerospace and weapons system muscle, but it is also the major shipbuilder for NATO and its allies. This niche has provided it with plenty of contracts throughout its history and should provide ample growth going forward as nation’s build up their arsenals.
Even better is growth coming from the private sector as well. The demand for cargo ships is rising, while private jet usage continues to grow. These are providing unexpected boosts to its bottom line.
With over three decades’ worth of dividend growth behind it, our pick is poised to keep the good times going. Watch for when the stock goes ex-dividend on Wednesday, June 22 (estimated date).
In order to make room for our defense pick, we’ve been forced to remove a retailer from the list.
You can check out the Best Dividend Protection Stocks Model Portfolio to explore all the stocks.
