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The following list of solid dividend payers are not likely to get anyone excited about future growth prospects like some small cap tech company with a hot IPO, but in these uncertain times being able to diversify into a reliable dividend paying stock might work while you ride out the economic storm.Bank money market accounts, CD's and treasuries are not all that compelling right now. While it is wise to keep some cash handy in these places, you need not put all your resources there.
Earlier today my colleague Steven Halpern posted a story on the safest dividend payer in the DJIA and
Verizon Communications (NYSE: VZ) paying 6.1% was his conclusion. I recently posted about this stock pointing out the benefits of the communications companies, see: Chasing Value: AT&T and VZ, high yield plus safety
It is to be expected that a utility would show up on the list, given the strong recurring revenue and cash-flow and
Duke Energy (NYSE: DUK) paying 6.39% is that company. I have written many positive posts about Duke and my view has not changed.
Few people may know that the best performing stock in the history of the S&P 500 Index is Altria Group (NYSE: MO) paying 7.85%. The original company has been split in two separating the international business from the national, but its dividend is secure and its cash-flow remains strong.
The money just keeps rolling in and the shareholders just keep on collecting from Kinder Morgan Energy Partners (NYSE: KMP) paying 8.26%. KMP basically rents an energy delivery system for natural gas, some oil, and coal with rates that are not dependent on the pricing of the commodity.
The majority partner of Boardwalk Partners (NYSE: BWP) paying 8.68% is the Loews Corporation (NYSE: L) and they have been expanding the natural gas delivery system in areas not covered by competitors like KMP seeking the same rewards.
I own Annaly Capital Management (NYSE: NLY) which is paying 15.88%, and I have bought more since I recommended the stock and made it one my picks for the year. The stock is up this year, but even if it was not, the yield by itself has beat, and is likely to continue to beat the index this year.
All of the yields I have indicated are for the trailing twelve months (TTM) as present by AOL Money and Finance.
Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture and planning firm. He writes the columns Chasing Value and Serious Money. Disclosure: I own shares of NLY and VZ.
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