2024-04-03 02:28:00 ET
If you think finding great dividend stocks is like trying to find a needle in a haystack, think again. It is as easy as walking through your local grocery store, where Dividend Kings, stocks that have 50+ years of annual dividend increases behind them, are all over the place. Three you might want to consider adding to your wishlist, if not your buy list, are Procter & Gamble (NYSE: PG) , Coca-Cola (NYSE: KO) , and Hormel Foods (NYSE: HRL) . Here's a quick look at each.
Procter & Gamble has increased its dividend annually for 67 consecutive years, soundly in Dividend King territory . The dividend yield is around 2.3% today, which isn't huge but is notably higher than what you would get from the S&P 500 , which is yielding around 1.3% right now. P&G's products fall into the consumer staples space, but it notably does not make food.
The big story with P&G is innovation. It works to ensure that its portfolio of everyday essentials, like paper towels, laundry detergent, and toothpaste, have strong brands backing them. But that strength is derived from offering industry-leading benefits, which allow P&G to charge premium prices. Spending on research and development allows the consumer staples giant to keep upping its game, bringing out "new" and "improved" products on a regular basis. That, plus the company's impressive marketing muscle, brings customers into stores and makes P&G an incredibly valuable supplier for retailers. If you like big, industry-leading companies, this Dividend King should be on your shortlist.
For further details see:
Years' Worth of Passive Income Is Hiding in Plain Sight