Dividends4Life: 6 Dividend Stocks Every Retiree Should Consider Owning

Dividend stocks make for a great investment choice if you're looking to boost your income in retirement. But the key lies in selecting strong dividend-paying companies with solid growth avenues and financials to ensure they can sustain dividends during difficult times and offer a nice raise when things are smooth. Finding such a company, however, isn't an easy job. Keeping that in mind, we asked our contributors to suggest dividend stock ideas that are perfect for retirees to own. Here are six names to consider...

Phillips 66 (NYSE:PSX) is a rare business which can potentially provide three things especially important to retirees: Capital preservation; income; opportunity for long-term growth. American Water Works (NYSE:AWR), the largest investor-owned water and waste water utility in the United States, would make a great addition to many retirees' portfolios. It spouts, to varying degrees, the trio of qualities Jason mentioned that are important to many retirees: capital preservation, potential for long-term growth, and income. I recommend Enterprise Products Partners (NYSE:EPD) in a taxable account since it's an MLP and thus comes with certain tax benefits. ADT (NYSE:ADT) has a simple, yet profitable business model that makes it a great company to own. Caterpillar (NYSE:CAT) is currently at a down-point in its business cycle, but it's setting the stage for a potential rebound in the future. Dow Chemical (NYSE:DOW) deserves your attention if you're looking to boost your portfolio income.

Source: Motley Fool

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