Meet the (Almost) Dividend King with a 49-Year Streak That Wall Street Is Sleeping On
The stock's prolonged slump makes enough sense. Investors are just forgetting the underlying headwind is reliably cyclical.
Overview
Need reliable dividend income? Wall Street usually steers investors to the best ones to buy. Now and then, though, it misses one.
That's what seems to be the case here. Down 20% from its February peak and still dancing with new 52-week lows, this blue chip stock's forward-looking dividend yield now stands at a multiyear high of 2.8%. And that's based on a dividend, by the way, that's now been raised every year for the past 49 years, leaving it one year shy of attaining the title of Dividend King, or stocks that have increased their per-share payment for at least 50 straight years.
Details
There's no end to this streak in sight either. The underlying company is a fast-food restaurant chain, McDonald's (NYSE: MCD).
Source
Originally published at www.fool.com.