Best Dividend Stock to Buy Now and Hold Forever
The integrated energy giant is still an evergreen income investment.
Overview
Chevron (NYSE: CVX), one of the world's largest integrated energy companies, has raised its dividend annually for 39 consecutive years. If it maintains that streak for 50 years in a row, it will become one of the elite Dividend Kings. It pays a forward yield of 3.9%, and its projected 2026 EPS of $14.11 should easily cover its forward annual dividend rate of $7.12.
Chevron might seem like a cyclical oil stock, but it's consistently raised its dividend through four official U.S. recessions, ongoing conflicts in the Middle East, and other global economic shocks. Let's see how it maintained that streak, and why it's still a great income stock to hold forever.
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Originally published at www.fool.com.
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