Another food company? Why not? Consumers might grumble about the rising costs of food, but none of them ever actually stop eating. Besides, H.J. Heinz (NYSE:HNZ) has been put on several media pedestals of late, for reasons above and beyond the sweet cash payout.
For instance, Fitch recently upped Heinz’ credit rating to BBB+, Jim Cramer recommended it, and billionaire Nelson Peltz is holding a huge chunk of it in his portfolio specifically because of the dividend. That’s a lot of tacit endorsement.
Even more compelling is the actual yield. HNZ is paying out 3.7% of its value. The current quarterly payout of 48 cents leaves behind more than a 20-year trail of rising payouts.