This Dow Jones Stock Is a Genius Buy for Dividend Growth
The Dow Jones Industrial Average is one of the most followed stock market indexes in the United States; it contains 30 of America's largest and best-known companies. That includes industrial conglomerate Honeywell International (NASDAQ: HON). You might be familiar with Honeywell; the company has its name on some thermostats and other residential products, but most of its business is in industrial and aerospace applications.
It's time to get more familiar with Honeywell; it could be a sneaky good dividend stock over the coming years. But don't take my word for it; here is the hard evidence that Honeywell could be a winner in your portfolio.
Honeywell isn't exactly new to the dividend scene; the company's already raised its dividend for 12 consecutive years, following a freeze enacted during the financial crisis in 2009-2010. The dividend yield is solid at just under 2%. It's enough to add some income to your portfolio, but the growth is probably what you own the stock for. The payout has increased by an average of 8% annually over the past five years, enough to outpace inflation (when it's not at its highest rates in decades).
Source Fool.com
