Investors can still find value and yield by looking outside some of the traditional dividend sectors. The benefit to looking off the beaten path for yields is more than just cheaper valuations. Looking across multiple sectors and industries carries the added bonus of diversification in returns. I found five names that are best-of-breed companies within their industries, and have the fundamentals to protect high dividend yields. Each company has a competitive advantage that will protect cash flow even if the rest of the market stumbles.
Dividends at the five companies below are covered by an average of 187% by free cash flow and all five have aggressively repurchased shares. In the event of further market weakness or an economic recession, these five will be able to reduce repurchases to protect cash flow and even grow their dividend: HollyFrontier Corp (HFC), Invesco Ltd.(IVZ), Pfizer Inc. (PFE), Emerson Electric Co. (EMR) and Carnival Corp (CCL).
Source: InvestorPlace
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- High-Yield Managed Distribution Policy Funds
- 6 Blue Chip Dividend Stocks For When the Chips Are Down
- The 2016 Elite Dividend Stocks List
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