Aerospace continues to get all the investor attention these days when it comes to the major defense contractors. However, rising defense budgets in the wake of the Russia-Ukraine conflict have many nations rethinking their naval fleets as well. These increased budgets for sea capabilities are wonderful news for our latest Best Industrial Dividend Stocks List pick and its 10+ year streak of rising dividends!
You can check out the Best Industrial Dividend Stocks List to explore all the stocks.
Our pick happens to be Uncle Sam’s and NATO’s preferred builder of warships and naval vehicles. With over 135 years’ worth of operating history, our pick was set free roughly a decade ago via a spin-off. In that time, it has won countless contracts to design, build and repair Uncle Sam’s fleet of aircraft carriers, battleships and other boats. With new naval contracts hitting the wires, our pick is poised to make the most of the current geopolitical environment and increase its backlog of business.
But our pick hasn’t stopped at just building ships. In order to combat the lumpiness in shipbuilding revenues, our pick has expanded into a variety of mission control and other defense product capabilities. This has it operating across land, sea, air and even space. With new high-tech sensors, radars and software on its menu, our pick has continued to see its cash flow surge.
Investors have profited too, with a five-year annual dividend growth rate of over 13%!
All in all, our shipbuilder specialist has a lot to offer investors in the defense sector, and it shouldn’t be ignored.
In addition to our shipbuilding stock, we’ve also increased our positions in two other defense contractors while reducing holdings in another defense contractor and a logistic stock.
