While other issues have now taken over the headlines, the Russian-Ukraine crisis is still raging on – keeping the world on high alert. Moreover, it’s still pushing an upward surge in worldwide defense spending. For firms operating in the sector, it’s been a boon to earnings and backlogs. That includes our latest Best Industrial Stocks Dividend List pick!
Like many defense contractors, our pick courts the U.S. government and NATO allies as its main customers. The secret to our pick’s success has been its niche of shipbuilding. Since its spin-out about a decade ago, our pick has become the nation’s largest military shipbuilder. This includes warships as well as nuclear-powered submarines. And thanks to their specialized nature, our pick has continued to be tapped for maintenance and other repair needs.
Moreover, the firm has continued to add new data and digital capabilities to its arsenal. Real-time data mining and A.I. applications have continued to drive the shift toward the digital battlefield. This has only strengthened our pick’s revenues and backlog even further.
All in all, our pick’s niche continues to pay benefits for its shareholders.
In order to make room for our defense play, we’ve removed a construction equipment maker from the portfolio.
You can check out the Best Industrial Dividend Stocks List to explore all the stocks.
