Investing in dividend stocks can be a smart way to build wealth over time while enjoying passive income. As we approach the end of the year, now is an ideal time for investors to reassess their portfolios and consider adding some promising dividend stocks. Here are four dividend stocks worth considering that have strong potential for future growth.
Chevron: A Reliable Dividend Growth Stock
Chevron (NYSE: CVX) has a solid reputation for increasing its dividends consistently. The oil giant recently held its Investor Day, outlining a growth plan that aims for a compound annual growth rate (CAGR) of 2% to 3% in oil production. Chevron is committed to maintaining a robust balance sheet while ensuring its dividends are safe. With a history of increasing dividends for 38 consecutive years, Chevron plans to continue this trend through 2030, making it an attractive option for dividend investors.
- Market Cap: $313 billion
- Current Price: $157.22
- Dividend Yield: 0.04%
Brookfield Asset Management: Strong Growth Ahead
If you haven’t explored Brookfield Asset Management (NYSE: BAM), now may be the time to consider it. Since its formation through a spinoff in December 2022, an investment of $10,000 would have grown to $18,000 today, thanks to its strong dividend reinvestment strategy. Brookfield manages over $1 trillion in assets and expects to double its business in the next five years, targeting a CAGR of nearly 18% in distributable earnings by 2030. This growth is likely to result in annual dividend raises, making it a compelling investment.
- Market Cap: Not specified
- Current Price: $51.78
- Dividend Yield: 0.17%
Enterprise Products Partners: High Yield Potential
Enterprise Products Partners (NYSE: EPD) offers a substantial yield of 6.9%, making it one of the most appealing options for income-focused investors. This pipeline leader has raised its dividend every year for the past 27 years, supported by steady cash flow growth. With ongoing capital projects expected to come online by the end of 2026, Enterprise Products is poised for further dividend increases, making it an excellent buy for those seeking high-yield stocks.
- Current Price: $32.32
- Dividend Yield: 6.9%
Waste Management: A Steady Performer
While it may seem mundane, Waste Management (NYSE: WM) is a dividend stock that has proven its reliability. With 22 consecutive years of dividend increases, this company has achieved an 8% CAGR on its dividend over the past decade. As the largest waste management provider in the U.S. and a significant recycler, Waste Management generates stable revenue and cash flows, enhancing its capacity to support dividend growth in the future.
- Current Price: $208.05
- Dividend Yield: 1.6%
In conclusion, as you evaluate your investment strategies, consider these four dividend stocks that not only offer solid current yields but also the potential for significant growth. Investing in these companies can provide both passive income and potential capital appreciation. For more insights and ongoing updates, make sure to visit Stock Market News. To explore reliable stock portfolio management services and retirement investment options targeting a 20% growth per year, check out Stock Portfolio Management.
