It turns out you can teach an old dog new tricks, and that’s just the case with our latest Best Industrial Stocks Dividend List pick. Thanks to new technology, our pick has moved beyond its core business and into more lucrative future-forward ones, allowing it to see profits rise. So much so that it was able to increase its dividend by 8.3%, leading to a decent 2.8% yield. Investors can catch this increased payout of $1.57/share before the stock goes ex-dividend on Thursday, August 18.
That new business, by the way, is all sorts of green power solutions, including expanding to new hydrogen fuel cell power sources as well as battery technology/storage. This, coupled with its natural gas engine and generator business, is providing plenty of runway for long term growth.
And with demand rising on all fronts and car manufacturers looking to go green, our pick should be able to keep the dividend growth going in the coming years!
In order to make room for our new engine maker, we’ve been forced to remove a shipbuilder from the list.
You can check out the Best Industrial Dividend Stocks List to explore all the stocks.
