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6 Stocks for the Live-Off-Dividends Retirement Plan

Maintaining a steady stream of income at the lowest tax and cost

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Chevron (NYSE:CVX), through its subsidiaries, engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. This integrated energy company has one of the best reserve replacement ratios in the industry. It is also attractively valued at 8.40 times earnings and yields 3.20%. It has raised dividends at 8.80% per year over the past decade. The company plans to spend $37 billion per year in capital spending over the next five years.

The company is targeting over 22 projects, that will deliver 1 million BOE per day by 2016. The major projects that are expected to be brought online include Kashagan Phase 1 project in Kazakhstan, Kearl Oil Sands Project in Canada as well as a few in Africa. Its recent deal with Rosneft to explore in the Arctic and Black seas could generate long-term dividends for the corporation, which has tried to do business in Russia for years. (analysis)

Automatic Data Processing (NYSE:ADP) provides business outsourcing solutions. The company operates in three segments: Employer Services, Professional Employer Organization (PEO) Services, and Dealer Services. This technology company is expecting higher revenues as a result of acquisitions, improving client retention rates, and increased North American auto sales, which would boost its Dealer Services segment. The hidden growth kick behind ADP is the relatively untapped market for payroll outsourcing services for small and medium sized businesses. The company has boosted dividends for 37 years in a row and has a ten year dividend growth rate of 13.40% per year. It is attractively valued at 20 times earnings and yields 3.20%. (analysis)

Kinder Morgan Energy Partners (NYSE:KMP) operates as a pipeline transportation and energy storage company in North America. The partnership expects its acquisition of El Paso to generate significant synergies and cost savings starting from year one. It also plans on increasing distributions in 2012 to $4.98 per unit. Kinder Morgan expects future distribution growth to average 5% to 6% over the next several years, as it expands its network of fee generating assets. This dividend achiever has boosted distributions for 16 years in a row. Yield: 6.10% (analysis)

Full Disclosure: Long All companies mentioned above

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