Author: Brian Bollinger, Simply Safe Dividends

The company has paid uninterrupted dividends since 1976 and increased its payout by 10% annually since 2005. However, it recently encountered some challenges, sending its dividend yield above 4% to sit near its all-time high. While some investors are concerned about the safety of its dividend, we believe the company’s payout remains secure.

It’s likely to remain a low-risk dividend stock for the foreseeable future.

The company’s dividend yield sits just above 5%, its highest level in nearly 30 years. And its dividend continues to look secure thanks to its strong balance sheet. But the company’s high spending on growth projects, coupled with today’s challenging energy market, will likely put more pressure on the firm’s cash flow in the short to medium term.

There’s reason to believe that better times are ahead for this bank, and its CEO seems like the right leader for the job. With the company remaining in great financial shape and paying a safe 4% dividend yield, we are content continuing to give its turnaround more time.