The beauty of a diversified business is when one segment of the business is doing poorly, another can pick up the slack, resulting in strong overall long-term profits. Just take a look at our latest Best Industrial Dividend Stocks List pick for proof of that.
Our pick is a global manufacturing powerhouse. Key is that it operates under a variety of different business segments and products, including everything from high-tech measuring equipment to resealable zippers found on food packaging. Our pick’s huge breadth of product diversity has helped it generate ample cash flows for decades.
In fact, our pick has managed to raise its dividend for nearly 50 years straight.
With its diversification of product, our pick makes a wonderful choice in the currently uncertain economic environment. Investors should watch for the stock when it goes ex-dividend on Wednesday, June 29.
In order to make more room for our industrial pick, we’ve reduced our holdings in three defense stocks.
You can check out the Best Industrial Dividend Stocks List to explore all the stocks.
