Looking for Safe Income? This Stock Raised Its Dividend in the Last 2 Recessions.
Surprising almost everyone with some skin in the game, the U.S. Federal Reserve is tentatively planning two more interest rate hikes before the end of this year. Although the nation's central bank kept its current target federal funds rate steady when it had a chance to raise it on Wednesday, the Fed's governors remain concerned that falling inflation is still a little too high.
And that's an understandable concern for income investors. The economy isn't exactly on a firm footing as it stands right now. Higher borrowing costs could inadvertently push it into a recession.
Before panicking, though, know there are plenty of dividend-paying companies that can overcome such a headwind to not only continue paying their dividend but continue raising their dividend payments. Mutual fund company T. Rowe Price Group (NASDAQ: TROW) is one of these names you'll want to consider scooping up in light of the current economic backdrop.
Source Fool.com
