For dividend growth investors looking to add a well-covered large-cap Consumer Products stock to their portfolio, a new holding in the Best Dividend Growth Stocks model portfolio offers exciting opportunities. With an impressive 11-year track record of dividend increases ranking in the top 10% of dividend stocks, the future looks promising.
The 3-year dividend per share compounded annual growth rate of 11% places this investment in the top 40% of all dividend stocks.
A low beta of 0.64 further enhances its appeal, offering diversification and less correlation to equity markets.
Despite lagging behind the S&P 500’s 19% return with an 10% return to date, it outperformed the Consumer Products industry’s -2%.
Notably, investors can anticipate a 10.4% increased non-qualified payout of $0.425 per share going ex-dividend on September 28.
While forming our recommendation, we’ve also factored in key growth drivers and financial performance discussed by the company’s management during its Q2 earnings call held on July 28, 2023.
For an in-depth analysis that explores the stock’s potential to optimize returns through dividend growth, prioritize dividend safety, and consider returns risk and yield attractiveness, read on in the following section.