2024-04-09 07:30:00 ET
Summary
- Even among the Dividend Kings, American States Water is in a class of its own.
- The water utility's operating revenue fell slightly during the fourth quarter as non-GAAP EPS grew.
- S&P awards an A credit rating to AWR on a stable outlook.
- Shares could be trading 27% below fair value.
- As interest rates eventually begin getting cut, AWR could benefit from a rally.
In dividend growth investing, four groups of dividend payers pique my interest.
First up, there are companies with recently initiated dividends that have the potential to become great dividend growers but still have to prove it. This group can also include companies with a few years of dividend growth. I would put a company like Paycom ( PAYC ) in this group.
Next up are companies that have put up impressive dividend growth in the last 10 to 15 years. I think of these companies as up-and-coming Dividend Aristocrats. This group includes the likes of UnitedHealth Group ( UNH ) and Visa ( V )....
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American States Water: Buy America's Most Battle-Tested Dividend King Now