GIS - 3 Reasons to Buy This Blue Chip Dividend Stock
The true test for whether a stock is worthy of a place in the portfolio of an income investor is how it fares on the brink of a recession. Richard Kelly, the head of global strategy at Toronto-Dominion Bank 's TD Securities, believes that the odds of the U.S. falling into a recession by next year are more than 50%.
Yet the consumer defensive General Mills (NYSE: GIS) announced a 5.9% increase in its quarterly dividend per share to $0.54 last month. This is a sign of confidence from management that the company's future outlook is bright. Here are three reasons why income investors should think about adding General Mills to their portfolios.
General Mills reported its results for the fourth quarter ended May 29. The company once again topped the analyst consensus for both net sales and non-GAAP (adjusted) diluted earnings per share (EPS) in the quarter.
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3 Reasons to Buy This Blue Chip Dividend Stock