Securing a stable cash flow for retirement can be challenging, and reliable dividend stocks have long been sought after by investors for their consistent income stream. In this exclusive, we bring to you three dividend aristocrats that not only provide high yields but also have a history of increasing annual dividends, making them the cream of the crop in the investment landscape.
Realty Income Corporation (O)
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Realty Income Corporation (NYSE:O) stands out for its monthly dividend payouts. As a real estate investment trust, O manages and acquires single-unit freestanding commercial properties. The company’s unique focus on a net lease portfolio covering up to 85 industries has positioned it as a defensive stronghold during economic downturns.
Realty Income’s recent 644th monthly dividend payment of $0.2565 per share translates to a $3.078 annualized dividend, offering a 5.88% annual yield based on the current price, ensuring a lucrative income source for investors. The company’s robust financial performance, with remarkable growth in net income available to common stockholders and normalized funds from operations, underpins its reputation as a reliable dividend aristocrat.
With its unwavering commitment to monthly dividends and impressive financials, Realty Income Corporation is undoubtedly an attractive choice for investors seeking high-quality dividend aristocrats.
3M (MMM)
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3M Company (NYSE:MMM) is not just the originator of post-its and adhesive tapes; it is also renowned for its impressive 66-year track record of consistently increasing dividend payouts. MMM’s diversified operations across various industries such as healthcare, automotive, and electronics make it an ideal addition for investors seeking exposure to a range of sectors. MMM offers one of the highest yields among the dividend aristocrats, with its quarterly dividend of $1.51 for Q1’24 translating to an annual dividend yield of 6.62% based on the current price.
Despite a slight decline in sales last quarter, 3M’s fourth-quarter earnings exceeded analyst estimates, instilling confidence in the company’s ability to deliver strong results in the coming years. This outlook is particularly reassuring for dividend growth investors, considering the company’s projection of comfortably surpassing its estimated dividend payout for FY’24.
In light of its impressive historical performance and future outlook, 3M remains an enticing option for those seeking an above-average income-producing stock at a compelling value.
Amcor PLC (AMCR)
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Amcor PLC (NYSE:AMCR) is a leading global packaging manufacturer, operating through its Flexibles and Rigid packaging segments. Despite a recent decline in net sales, the company has managed to exceed EPS analyst estimates and is optimistic about its fiscal year targets, citing improving volumes and other strategic initiatives as catalysts for growth.
Offering a $0.50 annual dividend for FY’24, Amcor presents investors with a healthy ~5.53% annual yield based on current prices, making it an appealing option for dividend growth seekers. Despite challenges, the company’s strategic efforts and resilience position it as a noteworthy candidate for investors aiming to fortify their portfolio income.
On the date of publication, Rick Orford did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
