We all know that diversification can yield plenty of benefits for our portfolios. It can do the same for corporations. When one business is doing poorly, another can pick up the slack. This helps in both good and bad times. Ultimately, adding in variety allows for dividends and profits to be had over the long haul. And for our latest pick in our Best Dividend Stocks List, this has been true for over 30 years.
Our pick is a leader in the health care industry. Its portfolio includes a major pharmaceutical distribution business, medical devices and various services/tech applications for hospitals, doctors and clinics. Its diversity of business lines allows our pick to pull in plenty of steady cash flows and earnings. Better still, our firm has grown as technology and M&A have boosted its bottom line.
And it continues to share that bottom line with investors. Our pick has been able to increase its dividend for 35 years straight and continue to support its share price with a hefty buyback program.
In order to make room for our healthcare stock and another energy pick, we are forced to drop both an insurance stock and a utility pick from our list this week.
You can check out the Best Dividend Stocks Model Portfolio to explore all the stocks.
