APY - Why This Dividend Aristocrat Can Keep Up Its 63-Year Run
Industrial company Dover (NYSE: DOV) doesn't own the most exciting collection of businesses, and management's aspirations for GDP-plus-type growth isn't going to turn on growth investors, but for dividend-seeking investors, its 63-year history of raising dividends cannot be ignored. Moreover, management has taken the scalpel to the business in recent years and put it in a position to carry on growing its dividend in the future. Sporting a current dividend yield of around 2%, Dover is pretty good option for investors looking for income in their retirement. Here's why.
Dover's story in the last five years has been one of releasing the value in the stock through a combination of reducing cyclical risk and making operational improvements that have rendered the company's dividend more sustainable.
Retail fueling is Dover's biggest single end market. Image source: Getty Images.