When the going gets tough, investors know where to look for shelter. Consumer staples are one source of reprieve for those concerned about recession and volatility. For our latest addition to the Best Consumer Staple Dividend Stocks List, we selected a food retailer with 15+ years of dividend growth under its belt. Holders of the stock can expect their next regular payment of $0.26/share—a 24% increase from the previous payout—when it goes ex-dividend on Friday, August 12.
Our pick is an iconic American brand whose logo graces thousands of retail stores across 38 states. If you’re in the Midwest or Southwest, there’s a good chance that you or someone you know frequents this brand’s stores at least once a week, if not more.
As a consumer staple stock, don’t expect our pick to wow you with its dividend yield. But it has, on multiple occasions, surprised analysts with higher earnings growth. If you’re worried that the economy is heading for recession—or at least a period of uneven growth—a food-focused retailer could be a welcome addition to your portfolio.
To make room for the food retailer, we had to remove a processed food maker from the list this week.
You can check out the Best Consumer Staple Dividend Stocks List to explore all the stocks.
