Buy This Dividend Stock Today and Relax

Dividend stocks can be a great source of income for retirees. However, all investors should consider dividend stocks as part of a balanced portfolio. According to a report by Principal Street Partners, from 1989 through 2018, dividend-paying stocks generated an average return of 11.6% (when dividends were reinvested), compared to 8.3% for non-dividend paying stocks, which returned 8.3%. Not only do dividend payers provide larger returns, but they also experience 35% less volatility.

One reliable dividend stock that flies under the radar is United Bankshares (NASDAQ: UBSI). The bank has a history of increasing its dividend payout -- a feat it has accomplished for 47 years straight. You won't find it on a list of Dividend Aristocrats, because it's not a member of the S&P 500; as a result, the stock can get overlooked by investors. Read on to make sure you don't miss out.

United Bankshares is a regional bank with over 200 offices spread across the mid-Atlantic and southeastern metropolitan areas in the U.S. The bank has a strong footprint across these regions. In terms of total deposits, it ranks No. 2 in West Virginia, with $5.3 billion in deposits. It's also the No. 7 bank in the Washington, D.C., area and the No. 1 regional bank in the area.

Source Fool.com