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3 Must-Have Dividend Kings for Every Retiree’s Portfolio


  • Boost your retirement income with these three Dividend Kings.
  • Middlesex Water Company (MSEX): This is a defensive stock, offering its investors dividend income for over 100 years.
  • Walmart Inc. (WMT): The discount retailer just reached the Dividend King milestone.
  • Colgate-Palmolive (CL): The company is a household name with a 40.50% market share in the toothpaste sector.
dividend kings - 3 Must-Have Dividend Kings for Every Retiree’s Portfolio

Source: jittawit21/Shutterstock.com

The allure of having a sturdy financial safety net that takes care of your daily and future needs while relaxing on a beach somewhere is a very attractive setup. But while early retirement is the dream of most young adults, it’s not easy to reach. Still, not easy doesn’t mean impossible. It might be challenging, but you can always prepare early.

One of the most common tenets of personal finance is to start investing early. And when it comes to investing for retirement, having a stable income from dividends is one of the best strategies available. Dividends are financial rewards companies give to their shareholders — a show of appreciation for their trust, so to speak. But not all companies do so. And not all companies giving out dividends are reliable institutions.

To ensure your investment is in a quality company, look at the most prestigious classes of dividend stocks — the Dividend Kings.

These companies have long histories of staying power. They built their reputations as household names and have consistently increased company dividends for at least each of the last 50 years. Sounds incredible, right?

Let’s look at some dividend stocks we think should be part of any retiree’s portfolio.

Middlesex Water (MSEX)

A photo of water being poured into a glass that's sitting on a table.
Source: HQuality/ShutterStock.com

If you are looking for a company likely to stick around for the long haul, then Middlesex Water (NASDAQ:MSEX) may be one of the best choices. MSEX operates in Delaware and New Jersey. Its operations focus on water collection, treatment and distribution on a wholesale and retail basis to residential, municipal, private, commercial and industrial clients.

With its Strong Buy rating, MSEX attracts long-term investors and retirees because the company gives its shareholders a consistent and reliable income. Indeed, Middlesex Water has paid dividends to its shareholders since 1912. It has also consecutively increased its dividends for 50 years, qualifying it as a Dividend King. While its 1.73% dividend yield may not be as high as some other companies, its long-standing predictable payments make it one of the best dividend stocks to buy.

Walmart (WMT)

WMT Stock

The next on our list is another newcomer to the Dividend Kings list. Walmart (NYSE:WMT) is a blue chip stock that almost everybody knows. The retail store is considered one of the best go-to places for shoppers looking for a low price that they can’t find anywhere else. The company has stores in more than 10,500 locations.

Walmart stores aren’t just the go-to place for shoppers; analysts love WMT, too. The company has a Strong Buy recommendation by many industry analysts and is expected to reach as high as $210.00 within the next 12 months. That optimism is backed by stellar performance. For example, in the last four quarters alone, WMT smashed all analyst earnings expectations and currently offers its investors a 1.41% dividend yield. So, if you want something to add to your portfolio, Walmart is worth a look.

Colgate-Palmolive (CL)

Source: Shutterstock

The last entry on our list is no stranger in any retiree’s portfolio. Colgate-Palmolive (NYSE:CL) is a household name that has stood the test of time and weathered several economic downturns. The company is a product of the merger between Colgate and Palmolive in 1928. Today, it is a personal product manufacturer producing oral, personal and home care products. Indeed, the company is best known for its leading toothpaste brand, Colgate, and Palmolive soap. In fact, Colgate boasts a market share of 40.50% in the toothpaste sector.

The essential nature of CL’s products makes it worth keeping in a retirement or financial freedom portfolio. The 61 years of dividend increases have made it a favorite among income investors and those looking to build their nest egg for retirement. It is currently offering a 2.65% dividend yield and CL last reported beating analysts’ earnings per share (EPS) forecasts by 2.67%. While CL does not boast growth similar to other high-flying stocks, its reliability as a brand name, steady performance, income investment and status as a market leader in toothpaste make it one of our top Dividend Kings to buy for retirees.

On the date of publication, Rick Orford did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Rick Orford is a Wall Street Journal best-selling author, investor, influencer, and mentor. His work has appeared in the most authoritative publications, including Good Morning America, Washington Post, Yahoo Finance, MSN, Business Insider, NBC, FOX, CBS, and ABC News.

Article printed from InvestorPlace Media, https://investorplace.com/2023/09/3-must-have-dividend-kings-for-every-retirees-portfolio/.

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