DRI - Want Dividend Growth? Consider Buying This Blue Chip Stock
2023-06-28 08:10:00 ET
Quality businesses can outperform the broad market. That partly explains how shares of full-service restaurant specialist Darden Restaurants (NYSE: DRI) have soared 38% in the past 12 months. For context, that is far better than the 11% gain the S&P 500 index posted during the same period.
Yet, even following that steep climb, the restaurant chain is still an attractive buy, especially for dividend growth investors. Let's dig into Darden's fundamentals and valuation to better understand why this is the case.
Since opening its first restaurant, The Green Frog, in Georgia in 1938, Darden Restaurants has ascended to the status of being the largest full-service restaurant company in North America. The company's restaurant portfolio consists of nine brands, including Olive Garden, LongHorn Steakhouse, and newly acquired Ruth's Chris Steakhouse . Thanks to the wide variety of brands, over 400 million guests visit its restaurants each year.
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Want Dividend Growth? Consider Buying This Blue Chip Stock