Sometimes, a few trends converge at just the right time and make companies into superstars. Even if they are over a hundred years old. Our latest Best Dividend Stocks Model Portfolio is a prime example of this. The firm operates in a very needed niche and has seen its star shine in the last few quarters. So much so that it was able to raise guidance, buyback programs and, recently, increase its dividend by over 8%. This gives it a juicy 3% yield, which investors can catch when the stock goes ex-dividend on Thursday, August 18 with a payout of $1.57/share.
Our pick is a major manufacturer of engines, turbines and generators. Its niche has put the firm in the crosshairs of several major trends. Supply chain and energy woes have boosted demand for its industrial-sized generators, while a shift towards natural gas has strengthened both its power products and vehicle operations.
But our pick isn’t just sitting still. It’s invested and expanded into all sorts of green power solutions, including expanding to new hydrogen fuel cell power sources as well as battery technology/storage. The focus on new technologies gives our pick a long runway for future growth.
All in all, our pick’s long history, strong revenues and potential for growth make it a top choice for income seekers.
In order to make room for our new industrial pick, we’ve been forced to remove a utility firm from the portfolio.
You can check out the Best Dividend Stocks Model Portfolio to explore all the stocks.
