Want Safe Income? This Stock Raised Its Dividend in the Last 8 Recessions
Invest long enough and you'll experience the stock market's ups and downs. For long-term investors, finding quality companies you can invest in through the good and bad times is important to building wealth. For dividend investors, that's especially so. A great business can pay dividends during tough times and keep raising them.
Industrial conglomerate Illinois Tool Works (NYSE: ITW) is a great example. The company has raised its dividend for 60 consecutive years, spanning the last eight recessions! Here is the stock's secret to dividend longevity and why investors can continue banking on future raises.
Industrial companies like Illinois Tool Works rely on the broader economy. If a recession occurs and building and manufacturing slow, industrials will likely see slower growth or even lose revenue. You can see below that Illinois Tool Works has seen the occasional bump; revenue declined during recessions in 2001, 2009, and 2020.
Source Fool.com
