With the youngest baby boomers (Americans born between 1946 and 1964) approaching retirement age, it is 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 and 401(K)s. The more passive income can help cover costly and rising costs like mortgage, insurance, taxes, and other expenses, the easier it is for investors to put away money for future needs as they build to or enter retirement. According to the Internal Revenue Service (IRS), passive income generally includes earnings from rental activity or any trade, business, or investment in which the individual does not materially participate.
We screened our 24/7 Wall St. high-yield quality dividend stock database, looking for companies that have paid reliable dividends for years. We found four stocks that baby boomers can count on to deliver significant and dependable dividends every quarter. All are Buy-rated at the top Wall Street firms we cover and are in the Dividend Kings group, which has raised the dividends shareholders receive for 50 years or longer.
Why do we cover the Dividend Kings?
Companies that have raised the dividends shareholders receive for 50 years or longer are the kind of investments that baby boomers who are passive income investors need to own. Dependability is necessary for those seeking to bolster their yearly income with dividend stock and other passive income investments.
Altria
This Dividend King is one of the world’s largest producers and marketers of cigarettes and other tobacco-related products.
This tobacco company offers value investors a rich 8.02% dividend and is touted across Wall Street as one of the top passive income stocks for investors to own now. 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:
- Cigars and pipe tobacco, principally under the Black & Mild brand
- Moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands
- on! Oral nicotine pouches
- e-vapor products under the NJOY ACE brand
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 S.A. (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 partially funded by the sale.
Federal Realty Investment Trust
Founded in 1962, Federal Realty’s mission is to deliver long-term, sustainable growth through investing in densely populated, affluent communities.
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 and Boston to from 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:
- Santana Row in San Jose, California
- Pike & Rose in North Bethesda, Maryland
- Assembly Row in Somerville, Massachusetts
Federal Realty’s 102 properties include approximately 3,500 tenants in 27 million square feet and 3,100 residential units. Federal Realty has increased its quarterly dividends to its shareholders, which is currently 4.26% for 56 consecutive years, the longest record in the REIT industry.
Northwest Natural Holding
Northwest Natural provides natural gas service to approximately 2 million people in more than 140 communities.
This off-the-radar utility stock suits worried conservative investors and pays a solid 5.06% dividend. Northwest Natural Holding Co. (NYSE: NWN), through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, industrial, and transportation customers in Oregon and Southwest Washington.
The company also operates:
- 5.7 billion cubic feet of the Mist gas storage facility contracted to other utilities and third-party marketers
- Offers natural gas asset management services
- Operates an appliance retail center.
In addition, it engages in gas storage, water, non-regulated renewable natural gas, and other investments and activities.
The company provides natural gas service through approximately:
- 786,000 meters in Oregon and southwest Washington
- Water services to about 80,000 people through about 33,000 water and wastewater connections in the Pacific Northwest and Texas
United Bankshares
This Dividend King is a bank holding company dual-headquartered in Charleston, West Virginia, and Fairfax, Virginia.
Yielding a solid 4.08%, this mid-cap financial offers solid total return potential now. United Bankshares Inc. (NASDAQ: UBSI), through its subsidiaries, primarily provides commercial and retail banking products and services in the United States.
It operates through two segments:
- Community Banking
- Mortgage Banking
The company accepts:
- Checking, savings, and time and money market accounts
- Individual retirement accounts and demand deposits
- Statement and special savings
- NOW accounts.
Its loan products include:
- Commercial loans and leases to small to mid-size industrial and commercial companies
- Construction and real estate loans, such as commercial and residential mortgages
- Loans secured by owner-occupied real estate
- Personal, student, and credit card receivables
- Personal, commercial, and floor plan loans
- Home equity loans.
In addition, the company provides credit cards, safe deposit boxes, wire transfers, and other banking products and services; investment and security services; services to correspondent banks, including buying and selling federal funds; automated teller machine services; and internet and telephone banking services.
Further, it offers community banking services, such as asset management, real property title insurance, financial planning, mortgage banking, brokerage services, and investment management and retirement planning services.
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