Everything is starting to look rosy again. The inflation data for October came in below the estimates; earnings have been reasonably good for the third quarter, and Congress may get the ongoing budget issues sorted out for a few years instead of a few weeks.
However, the reality is that we are now involved, albeit by proxy, in two wars—the one between Ukraine and Russia, plus the fighting in the Middle East between Israel and Hamas. While the former could turn into an ugly winter stalemate, the latter could explode and advance through the region.
In addition, many on Wall Street remain very concerned that the effects of 18 months of interest rate hikes are just starting to work into the economy, and with personal and government debt exploding higher, we could be in some dangerous territory in 2024.
So, will the market crash next year? No one knows, but we found seven dividend leaders to buy now that can hold up, perhaps even rally during a market meltdown. All are rated ‘Strong Buy’ across Wall Street.
Agnico Eagle Mines
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This top stock is one of Wall Street’s most preferred North American gold producers, paying a solid 3.43%. Agnico Eagle Mines Limited (NYSE: AEM) is a senior Canadian gold mining company that has produced precious metals since 1957.
Agnico Eagle’s eight mines are located in:
- Canada
- Finland
- Mexico
- With exploration and development activities in each region, the United States, and Sweden.
The Company and its shareholders have total exposure to gold prices due to its long-standing policy of no forward gold sales. Agnico Eagle has declared a cash dividend every year since 1983.
The stock backed up as gold has sold off the recent highs, and with continued, albeit lower, inflation, you can bet many savvy portfolio managers are ready to add back top companies like this.
Comcast
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This top media and entertainment company remains a Wall Street favorite and pays a solid 2.80% dividend. Comcast Corporation (NYSE: CMCSA) is the largest US provider of cable services, with over 22 million primary and nearly 27 million broadband subscribers. Through its acquisition of Sky, Comcast now has direct customer relationships with 53 million subscribers.
Comcast has a foothold in the European market (UK, Germany, and Italy) and its US operations.
Comcast also owns:
- NBCU, which includes NBC TV Networks
- Telemundo
- MSNBC
- USA
- SyFy
- Bravo
- E!
- CNBC
- Universal Films
- Universal Theme Parks
Comcast has invested in technology to build an advanced network that delivers the fastest broadband speeds and brings customers personalized video, communications, and home management offerings.
Dominion Energy
Many of the Wall Street firms we cover are still very positive on utilities, and this company pays a robust 6% dividend. Dominion Energy, Inc. (NYSE: D) operates through four segments:
- Dominion Energy Virginia
- Gas Distribution
- Dominion Energy South Carolina
- Contracted Assets.
The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to residential, commercial, industrial, and governmental customers in Virginia and North Carolina.
The Gas Distribution segment engages in regulated natural gas gathering, transportation, distribution, and sales activities and distributes nonregulated renewable natural gas. This segment serves residential, commercial, and industrial customers.
The Dominion Energy South Carolina segment generates, transmits, and distributes electricity and natural gas to residential, commercial, and industrial customers in South Carolina.
The Contracted Assets segment is involved in energy marketing and price risk activities.
The company’s portfolio of assets included approximately
- 30.2 gigawatts of electric generating capacity
- 10,500 miles of electric transmission lines
- 85,600 miles of electric distribution lines
- 94,200 miles of gas distribution lines
Dominion also sells electricity at wholesale prices to rural electric cooperatives and municipalities and into wholesale electricity markets. It serves approximately 7 million customers.
Lockheed Martin
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This company is one of the top aerospace and defense stocks to buy, has backed up nicely from the highs, and pays a dependable 2.83% dividend. Lockheed Martin Corporation (NYSE: LMT) researches, designs, develops, manufactures, integrates, operates, and sustains advanced technology systems, products, and services.
The company operates in five principal business segments:
- Aeronautics
- Missiles and fire control,
- Mission systems and training
- Space systems,
- Information systems and global solutions (IS&GS).
Being the Pentagon’s prime contractor, Lockheed Martin offers a diverse global aerospace, defense, security, and advanced technologies portfolio.
The company’s leveraged presence in the Army, Air Force, Navy, and IT programs guarantees a steady inflow of follow-on orders from the U.S. government and many foreign allies of the nation.
Molson Coors Brewing
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While the iconic American beer company did merge with a Canadian beer giant, they are still based in Denver and pay a 2.80% dividend. Molson Coors Brewing Company (NYSE: TAP) is one of the world’s largest brewers with core brands
- Coors Light
- Carling
- Molson Canadian
- Staropramen
Molson and Coors merged in Feb 2005, added StarBev in 2012, and serves markets including the United States, Canada, Eastern Europe, and the UK/Ireland, with exposure to other markets through its Molson Coors International (MCI) division.
The Coors Light brand remains a massive favorite with Generation X and Baby Boomers who were all around when the light beer revolution started.
In addition, the meltdown of Bud Light after a dreadful marketing campaign has added many new customers and helped launch second-quarter results. The company is also now working on opportunities to market a cannabis-infused product.
Newmont Corporation
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This is another one of the largest mining companies, is a solid buy for more conservative accounts, and pays a strong 4.68% dividend. Newmont Corporation (NYSE: NEM) is a gold producer producing gold. I
Newmont operates through the following geographical segments:
- North America,
- South America,
- Nevada,
- Australia, and
- Africa.
The North American segment consists primarily of Carlin, phoenix, twin creeks, and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado in the United States.
The South American segment consists primarily of Yanacocha in Peru and Merian in Suriname.
The Australia segment consists mainly of Australia’s Boddington, Tanami, and Kalgoorlie.
The Africa segment consists primarily of Ahafo and Akyem in Ghana.
The Procter & Gamble Company
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The company offers a substantial dividend, sells consumer staples that are always in demand and pays a 2.47% dividend. The Procter & Gamble Company (NYSE: PG) is one of the world’s largest consumer products companies,
The company operates under five segments:
- Beauty,
- Grooming,
- Health Care,
- Fabric and Home Care, and
- Baby and Family Care.
The Proctor & Gamble brands include:
- Pampers
- Tide
- Bounty
- Charmin
- Gillette
- Oral B
- Crest
- Olay
- Pantene
- Head & Shoulders
- Ariel
- Gain
- Always
- Tampax
- Downy
- Dawn
P&G sells its products through
- Mass merchandisers
- e-commerce
- Grocery stores
- Membership club stores
- Drug stores,
- Department stores
- Distributors
- Wholesalers
- Baby stores
- Specialty beauty stores
- High-frequency stores
- Pharmacies.
The company has been innovative in its product development process and uses that to help ensure future growth and cash flow. This should provide investors with years of steady growth and dividends.
A market crash will level all stocks to some degree. However, all of these top companies should fare much better as their products will remain in demand, or in the case of the Gold stocks, investors will grab them as a hedge against a market collapse.
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