With the midterm elections now in the books, one word comes to mind – gridlock. Due to the splitting of parties in Congress, policy should be light, but there is one sector that has plenty of bipartisan support. And our latest Best Dividend Protection Stocks Model Portfolio pick has used this joint support to recently boost its dividend by more than 7%. Investors can take advantage of this before Wednesday, November 30, when the stock goes ex-dividend with a regular quarterly dividend of $3 per share.
The support comes from the defense industry. Aerospace & defense is probably one of the few issues about which both sides of the aisle in the Congress can agree on. A rising defense budget is almost assured heading into the new year. As one of the biggest defense contractors in the world, our pick is ready to feast on that fact.
Additional growth for our pick can be had from overseas. Due to the Russian invasion of Ukraine, many NATO allies are stepping up their defense spending as well for the first time in decades. That will only serve to strengthen our pick’s bottom line going forward.
With plenty of current backlog, rising future spending and a worrisome geopolitical environment, our pick makes an ideal choice for conservative investors.
You can check out the Best Dividend Protection Stocks Model Portfolio to explore all the stocks.
