Water Utilities Monopoly Powers Its Way Onto Best Dividend Stocks List
Dividend.com has added a water utilities company to the Best Dividend Stocks list and removed a biotech company. This water utilities company has a complete monopoly over the 1 million people it serves in the city it operates in. The firm was founded in the 1800s and is a dividend aristocrat almost two times over with 47+ years of consecutive dividend increases. Over the last 10 years, the company has managed to increase its payout by more than 42%.
Apart from water utilities the firm also has plenty of unregulated businesses in the form of real estate development. These businesses provide extra “oomph” to an otherwise boring core-water business.
This company still has plenty of room to keep growing its dividend as its payout ratio sits very comfortably at 46% based on 2016 earnings estimates.
4 Reasons Why You Should Own This Stock:
The company is a dividend aristocrat almost two times over with 47+ consecutive years of dividend increases.
Complete monopoly over the area it operates in.
Real estate development business along with water provision adds diversification in terms of revenue mix.
Utilities have been bid up by investors as they attempt to hedge themselves against market volatility.
As a dividend investor, you need access to the best and safest stocks in the market. Dividend.com’s DARS ratings have been providing you with reliable and profitable stock analysis since 2008, and this addition is no exception.
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