Fertilizer doesn’t exactly sound like a growth business, but indeed it is. And, in fact, a mega-sized one. For one thing, many natural fertilizers need to be mined and supplies are limited. Secondly, man-made ones are chemically produced, and those firms that make them own the rights to their formulas. The combination of factors makes the fertilizer business a huge growth industry. This is especially true as our population explodes and there is increased demand for more food and protein. And that’s why our latest Best Material Dividend Stocks List pick could be a big winner for investors.
Our pick is an AgTech giant that produces fertilizers, alternative proteins and other products to increase crop yields, reduce food waste and better feed the world. It’s a good place to be – revenues surged by over 48% year-over-year in the last reported quarter, while earnings jumped by over 325%.
Those kinds of profits and sales surges have helped our new pick become a dividend giant. The firm has long been a dividend payer, but it recently became more serious about steadily increasing its shareholder rewards. With that, investors have an opportunity to gain a foothold in a powerful dividend growth story and lock in a 3.5% yield.
To make room for our latest pick, we had to remove a gold mining company this week. We also replaced the class B shares of an industrial packaging products and services company with its class A shares.
You can check out the Best Materials Dividend Stocks List to explore all the stocks.
