CINF - Want Safe Income? This Stock Raised Its Dividend In the Last 9 Recessions
2023-06-19 06:00:00 ET
Dividend stocks are an excellent source of passive income. These stocks also produce solid returns with less volatility than others. According to a study by Hartford Funds, companies that have initiated or increased their dividends have delivered returns of 10.2% annually. This outpaces an equal-weighted S&P 500 index, which has gained 7.7% annually.
Paying and raising dividends across recessions is an impressive feat only accomplished by companies with steady revenue streams and strong cash management. One company that has increased its dividend every single year since 1960 -- a timespan that has included nine recessions -- is Cincinnati Financial (NASDAQ: CINF) . Here's how this insurer accomplished this feat and why it can remain a reliable income stock for investors.
Cincinnati Financial writes insurance policies for businesses and individuals, specializing in property and casualty coverage. Insurers can generate consistent cash flows because of the nature of the business.
For further details see:
Want Safe Income? This Stock Raised Its Dividend In the Last 9 Recessions