Want Income for Life? Coca-Cola Has Raised Its Dividend for 64 Straight Years and Yields 2.4%. Here's Whether It Belongs in Your Portfolio.
Coca-Cola is a compelling income investment because its modest yield is supported by durable business growth, innovation, and 64 consecutive years of dividend increases.
Overview
Coca-Cola (NYSE: KO) has raised its dividend for 64 consecutive years and yields about 2.4% at a share price near $90. I think it belongs in most income portfolios, though not for the reason most people assume.
In February, Coca-Cola raised its quarterly payout from $0.51 per share to $0.53, bringing the annual dividend to $2.12 per share from $2.04. That was a 3.9% increase and the 64th straight year of growth, a streak that has survived recessions, inflation spikes, and repeated shifts in what people drink. This streak puts Coca-Cola on the elite list of Dividend Kings, companies that have grown their dividends for at least 50 consecutive years.
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Originally published at www.fool.com.