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5 Dividend Kings to Buy Now for Dependable Retirement Passive Income
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While getting to retirement age can be a blessing and a curse, the reality of counting on the U.S. government to provide for your needs is not the best idea. The full retirement age is 66 if you were born from 1943 to 1954. The full retirement age increases gradually if you were born from 1955 to 1960 until it reaches 67. For anyone born in 1960 or later, full retirement benefits are payable at age 67.
With the youngest Baby Boomers (Americans born between 1946 and 1964) approaching retirement age, it’s becoming increasingly important to focus on magnificent dividend stocks that will supply big passive income either in or out of designated retirement accounts like IRAs.
According to the Internal Revenue Service (IRS), passive income generally includes earnings from rental activity or any trade or business in which the individual does not materially participate. It can also include income from limited partnerships and other similar enterprises where the individual is not actively involved.
Investors seeking dividend dependability for retirement may be drawn to the Dividend Kings. These 53 companies have raised their dividends for 50 consecutive years or more. We found five perfect passive income ideas for investors now, and all are rated Buy at top Wall Street firms.
This tobacco company offers value investors a great entry point now and a rich 8.40% dividend. Altria Group Inc. (NYSE: MO) manufactures and sells smokable and oral tobacco products in the United States through its subsidiaries.
The company provides cigarettes primarily under the Marlboro brand, as well as:
It sells its tobacco products primarily to wholesalers, including distributors and large retail organizations, such as chain stores.
Altria used to own over 10% of Anheuser-Busch InBev (NYSE: BUD), the world’s largest brewer. The company sold 35 million of its 197 million shares through a global secondary offering. That represents 18% of their holdings, but still leaves a hefty 8% of the outstanding shares in their back pocket. They also announced a $2.4 billion stock repurchase plan funded in part by the sale.
With a strong 5.76% dividend and residing in a highly safe sector, this company is a steal are current trading levels. Canadian Utilities Limited (OTC: CDUAF) together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally.
It operates through three segments:
The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in:
This segment also provides integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia. It owns and operates approximately 9,100 kilometers of natural gas pipelines, 11 compressor sites, approximately 3,600 receipt and delivery points, and a salt cavern natural gas storage peaking facility near Fort Saskatchewan, Alberta in Canada.
The ATCO EnPower segment provides:
The Corporate & Other segment retails electricity and natural gas, and it provides whole-home solutions.
While real estate has slowly come back, demand is still growing, and hard assets are good in inflationary times. Federal Realty Investment Trust (NYSE: FRT) is a recognized leader in the ownership, operation, and redevelopment of high-quality retail-based properties in major coastal markets from the District of Columbia to Boston, San Francisco, and Los Angeles.
Federal Realty’s mission is to deliver long-term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply.
Its expertise includes creating urban, mixed-use neighborhoods like:
Federal Realty’s 102 properties include approximately 3,300 tenants in 26 million square feet and 3,100 residential units. Federal Realty has increased its quarterly dividends to its shareholders, which is currently 4.29% for 56 consecutive years, the longest record in the REIT industry.
Spun off from Johnson & Johnson Inc. (NYSE: JNJ) last year, this potential total return home run pays a solid 4.21% dividend. Kenvue Inc. (NYSE: KVUE) is a global consumer health company.
The company operates through three segments:
The self-care segment offers cough, cold, and allergy pain care, digestive health, smoking cessation, and other products under these brands:
The Skin Health and Beauty segment provides face and body care, hair care, sun care, and other products under these brands:
The Essential Health segment offers oral and baby, women’s health, and wound care products under these brands:
Six Ultra-High-Yield Dividend Stocks That Pay Investors 10% and More Monthly
When the economy is struggling, the do-it-yourself legions repair instead of replace, and this tool giant is a very solid idea with a big 3.85% dividend. Stanley Black & Decker Inc. (NYSE: SWK) engages in tools, storage, and industrial businesses in the United States, Canada, the rest of the Americas, France, the rest of Europe, and Asia.
The company’s Tools & Storage segment offers professional products, including:
This segment sells its products through retailers, distributors, dealers, and a direct sales force to professional end users, dealers, dealers, retail consumers, and industrial customers.
Stanley Black & Decker’s industrial segment is a key player in several industries, including:
It provides engineered fastening systems and products; sells and rents custom pipe handling, joint welding, and coating equipment; and offers pipeline inspection services.
Additionally, it sells hydraulic tools and performance-driven heavy equipment attachment tools.
This segment’s clientele includes the oil and natural gas pipeline industry and other industrial customers, further solidifying the company’s market position and potential for future growth. It also caters to commercial customers with its automatic doors.
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