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Nearly 50 Year-increasing Electric Utility Reaffirmed in Best Utility Dividend Stocks List

With inflation hovering near 40-year highs and the Federal Reserve raising interest rates into a decelerating economy, the threat of stagflation looms large for markets. Utility stocks with high dividend yields have become a more attractive bet for income investors seeking a risk-off approach to managing their portfolios. And our latest reaffirmation in the Best Utility Dividend Stocks List is a prime example.

Utility stocks are known for their defensive posture – that is, they have historically shown an ability to withstand economic shocks. Regardless of where we are in the business cycle, households and businesses still need to heat and cool their homes and turn the lights on.

Our latest reaffirmation serves a diverse customer base across the state of New York and has shown a high propensity for increasing its revenue in both core and peripheral products. Our pick serves electricity, natural gas, and steam and also generates revenue from non-utility services.

Although its dividend yield is slightly below the utility sector average, its solid track record in delivering higher payouts should be enough to spark interest among investors. The stock is expected to go ex-dividend on Thursday, September 1 (estimated date).

You can check out the Best Utility Dividend Stocks List to explore all the stocks.

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