Greif, ALLETE, and Hawaiian Electric Industries have one big thing in common. They are on my list of the best dividend stocks which have generously contributed to my portfolio income over the past couple of months. A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. Here are other similar dividend stocks that could be valuable additions to your current holdings.
Greif, Inc. (NYSE:GEF)
Greif, Inc. produces and sells industrial packaging products and services worldwide. Established in 1877, and now led by CEO Peter Watson, the company now has 13,000 employees and with the company’s market cap sitting at USD $2.69B, it falls under the mid-cap category.
GEF has a nice dividend yield of 3.10% and their payout ratio stands at 47.36% . In the last 10 years, shareholders would have been happy to see the company increase its dividend from US$1.12 to US$1.68. During this period, they haven’t missed a payment, as one would expect from a company increasing their dividend. Dig deeper into Greif here.
ALLETE, Inc. (NYSE:ALE)
ALLETE, Inc. operates as an energy company. Established in 1906, and run by CEO Alan Hodnik, the company provides employment to 1,995 people and with the stock’s market cap sitting at USD $3.48B, it comes under the mid-cap category.
ALE has a solid dividend yield of 3.26% and distributes 63.13% of its earnings to shareholders as dividends , and analysts are expecting the payout ratio in three years to hit 63.42%. ALE has increased its dividend from US$1.72 to US$2.24 over the past 10 years. It should comfort existing and potential future shareholders to know that ALE hasn’t missed a payment during this time. More detail on ALLETE here.
Hawaiian Electric Industries, Inc. (NYSE:HE)
Hawaiian Electric Industries, Inc., through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. Started in 1891, and now led by CEO Constance Lau, the company provides employment to 3,880 people and has a market cap of USD $3.62B, putting it in the mid-cap category.
HE has a sizeable dividend yield of 3.68% and is currently distributing 81.58% of profits to shareholders . Although shareholders may not be happy that the last payment of US$1.24 was lower than its dividend payout of US$1.24 10 years ago, the company has consistently paid a dividend in this period. Interested in Hawaiian Electric Industries? Find out more here.
For more solid dividend paying companies to add to your portfolio, explore this interactive list of top dividend payers. Or create your own list by filtering companies based on fundamentals such as intrinsic discount, health score and future outlook using this free stock screener.
To help readers see pass the short term volatility of the financial market, we aim to bring you a long-term focused research analysis purely driven by fundamental data. Note that our analysis does not factor in the latest price sensitive company announcements.
The author is an independent contributor and at the time of publication had no position in the stocks mentioned.