When it comes to finding a well-balanced dividend investment, one well-covered large-cap stock in the Transportation Equipment sector remains a cornerstone in the Best Dividend Stocks model portfolio. This standout company has a 34% forward payout ratio, which is not only low but also aligns well with the sector average of 24%. This relatively low payout ratio suggests that the company is not overextending itself financially, allowing it to continue paying dividends reliably.
What truly sets this stock apart is its remarkable track record of increasing dividends for 18 consecutive years. This consistent performance places it among the top 10% of all dividend-paying stocks. Investors can also expect this trend to continue, as future increases in dividends are anticipated. Additionally, the company currently yields 2.92% – higher than both the benchmark and sector average.
Investors should also keep an eye out for the next dividend payout. The company just declared its next dividend of $1.680 per share, with the stock expected to go ex-dividend on November 22. This further underscores the stock’s dividend reliability.
This snapshot is just the beginning. We have taken into account the growth drivers and financial results discussed by the company management during their Q2 2023 earnings call held on August 9, 2023.
To delve deeper into the nuts and bolts of why this stock merits a spot in a balanced dividend portfolio, stay tuned for our in-depth stock analysis that follows. Here, we’ll further explore the stock’s attributes, focusing on an equal blend of Yield Attractiveness, Dividend Safety, Returns Potential, and Returns Risk to provide a comprehensive perspective.
