Once again, Washington’s debt ceiling debate is causing concern on Wall Street. With the United States hitting its debt ceiling on Jan. 19, the Treasury Department began taking extraordinary measures to ensure the government can continue to pay its bills. But, for all the political grandstanding around spending reductions, defense outlays are unlikely to be impacted by the negotiations. Our latest addition to the Best Industrial Dividend Stocks List is a leading defense contractor that continues to benefit from U.S. government spending.
You can check out the Best Industrial Dividend Stocks to explore all the stocks.
Thanks to solid growth in organic sales, robust quarterly earnings and revised guidance for 2023, our pick is a welcome addition to income investors’ portfolios. Investors who are particularly risk-averse should also take solace in the fact that our pick has massive contracts with the Department of Defense and other governmental agencies.
To make room for our latest defense pick, we’ve removed a leading railroad franchise that has been struggling lately.