A growing global economy always is in need of good, old-fashioned steel to fashion new buildings and new cities. Nucor Corp. (NYSE:NUE) provides the raw steel and steel products that go into building the world. And despite the chatter surrounding a Europe-induced global recession, there’s still massive growth taking place all over the world, especially in places like China, India, Brazil — and yes, even the United States. This means robust demand for steel, and this translates into plenty of revenue that Nucor can fabricate into fiscal girders strong enough to support income investors’ portfolios.
Nucor’s dividend record is impressive, as the company has dolled out hardened payouts since 1973. The stock also comes with a sturdy 4% dividend yield, which should appeal to just about every income investor. Nucor’s shares haven’t been stalwart performers of late, as fears of a global growth slowdown have hurt the stock. However, NUE still is a strong dividend performer, and at current price levels, now might be a very good time to build a position in this high-yielding dividend payer.
As of this writing, Jim Woods did not hold a position in any of the aforementioned securities.