It’s a good time to be a defense contractor. With the Russian-Ukraine crisis in full swing, the industry is getting plenty of investors’ attention as several nations look to expand their defense budgets. Such a development can be beneficial for the latest pick in our Best Industrial Dividend Stocks List.
Our pick is one of the largest defense contractors on the planet, with a portfolio of businesses spanning marine, aerospace, and missile defense systems. This huge umbrella has served it well for decades as the U.S. and other allies build out their defense capabilities. Given the ongoing geopolitical crisis around the Russia-Ukraine conflict, more contracts are expected to head our pick’s way in the upcoming months.
Even better is that our pick has seen plenty of interest from the private sector too. As one of the largest makers of personal jets, the surge in wealth/trading activity has been a surprising bright spot for demand in this business area.
All of this boils down to supporting our pick’s growing 2.1% yield. It’s worth keeping an eye on the stock when it goes ex-dividend on Thursday, April 7.
You can check out the Best Industrial Dividend Stocks List to explore all the stocks.