Dividend Lovers Grabbing 7 Stocks That Benefit From Continued Rising Interest Rates

The company also offers residential mortgage, multifamily residential, commercial and industrial, agricultural and non-real estate agricultural loans, as well as construction, land development and other land loans. Its consumer loans include automobile, recreational vehicle, boat, home improvement, personal and deposit account collateralized loans. It also offers consumer durables and home equity loans, as well as loans for working capital, business expansion and purchase of equipment and machinery.

In addition, it provides internet banking, mobile banking, trust and wealth management, retail brokerage, mortgage services and treasury management, as well as debit and credit cards.

Shareholders receive a 2.97% dividend. Prosperity Bancshares stock has an $85 target price at Raymond James. The $79.14 consensus target is closer to Friday’s $74.12 closing share price.

Valero Energy

This Wall Street favorite is a solid energy play for conservative investors looking for safer ideas. Valero Energy Corp. (NYSE: VLO) is one of the largest independent petroleum refining and marketing companies in the United States. It is based in San Antonio, Texas; owns 13 refineries in the United States, Canada and Europe; and has a total throughput capacity of around 2.5 million barrels per day.

The company also is a joint venture partner in Diamond Green Diesel, which operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel is North America’s largest biomass-based diesel plant.

Valero sells its products in the wholesale rack or bulk markets in the United States, Canada, the United Kingdom, Ireland and Latin America. Approximately 7,400 outlets carry Valero’s brand names.

In addition, the company has very low debt, and interest expense on a yearly basis is very manageable.

Investors receive a 3.08% dividend. The Strong Buy rating at Raymond James is accompanied by a price target of $174. The consensus target is $158.87. Valero Energy stock closed on Friday at $132.75.

These seven top stocks come with dependable dividends and should continue to fare well despite what is sure to be at least three more 25-basis-point rate increases, in March, May and July. Despite being able to avoid interest rate risk, the problem now is market risk, as we could be headed much lower. With that in mind, it makes sense to scale buy these ideas over the next month or so.

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