Whenever it comes to strong income investments, we investors like dividend stocks that have a lengthy history of increasing their payouts in all types of economic situations. There are various ways to locate equities with extensive dividend histories, but one of the simplest is to start with the Dividend Aristocrats. The Aristocrats are a collection of just 65 stocks that have increased their dividends for at least 25 straight years.
With that degree of dividend longevity, all 65 of these firms have been able to boost their dividends during recessions, implying that the likelihood of doing so again in future recessions is substantially higher.
Some Dividend Aristocrats are more focused on profits growth, a dividend increase, or current yield than others. We’ll concentrate on the latter in this post, highlighting three Dividend Aristocrats with more than 4% current yields.
Wall Street analysts consider these three trusty dividend-payers to be excellent choices for our growing portfolios:
AbbVie (ABBV)
AbbVie (ABBV) is a pharmaceutical conglomerate with many products. Humira, the world’s best-selling medicine, is ABBV‘s most significant income source. Humira is sold for a variety of diseases. ABBV also provides a range of cancer therapies, thyroid treatments, anemia treatments, and other services. ABBV was founded in 2012, but it was formerly a division of Abbott Laboratories (ABT).
ABBV employs 50,000 people, earns $56 billion in yearly revenue, and has a $240 billion market value. AbbVie has grown its dividend for 50 straight years, including its tenure as part of Abbott, earning it the title of Dividend King. ABBV has a current dividend yield of 4.1%. It has quite impressively bested experts’ projections on both EPS and revenue for the past four consecutive fiscal quarters, and it shows year-over-year growth. ABBV’s current quarter shows us $15 billion in sales, at $3.28 per share. The consensus price target for ABBV among analysts that provide 12-month price estimates is 143.00, with a high of 172.00 and a low of 105.00. The forecast implies an increase of 7.42% over current pricing, and ABBV comes with a solid buy rating from analysts.
Chevron (CVX)
Chevron (CVX) is a multinational oil, gas, and chemical company established in the United States. CVX is a company that engages in both upstream and downstream activities, which means it explores, develops, and produces petroleum and natural gas and refines crude into marketable end products. Chevron was previously a subsidiary of Standard Oil, which dates back to 1879. It now employs 48,000 people, earns $160 billion in revenue, and has a $249 billion market value.
CVX‘s dividend has been increasing for 34 years in a row; it currently pays a dividend yield of 4.1%. CVX’s current quarter shows $44.6 billion in sales, at $3.10 per share. Its year-over-year numbers are all in the green, and it has beaten Wall Street’s EPS and revenue expectations for the past two consecutive quarters. Growth is forecasted to continue regarding EPS and revenue annually and quarterly. CVX has a consensus price target of 140.00 among analysts that provide 12-month price estimates, with a high of 167.00 and a low of 105.00. The median estimate reflects an increase of 5.66% over its most recent price, and analysts give CVX an easy buy rating.
Leggett & Platt (LEG)
Leggett & Platt (LEG) is a multinational manufacturer and distributor of engineered components and other goods. The company has three business segments: bedding, furniture and textiles, and miscellaneous. Leggett manufactures steel rods, chemicals and additives, foams, mattresses, springs, automobile seating components, and much more through these categories.
The firm was formed in 1883, has a market valuation of $5.5 billion, and generates roughly $5 billion in yearly revenues. It employs little over 20,000 people. LEG has grown its dividend for 48 years in a row. As with the other Aristocrats mentioned, it boasts a dividend yield of 4.1%. Also similar to its fellow Aristocrats in this article, it is no stranger to beating Wall Street’s EPS and revenue expectations. Revenue expectations were bested for the past four consecutive fiscal quarters. LEG’s current quarter shows us $1.3 billion in sales, at 73 cents per share. LEG has a consensus 12-month price target of 51.50, with a high of 55.00 and a low of 47.00 from analysts that provide 12-month price forecasts. The forecast reflects a 28.21% rise from current pricing, and the consensus is to buy and hold LEG.
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