Thanks to its excellent financial health and commitment to growing its payout, income investors can likely count on the company to continue delivering double-digit dividend increases in the years ahead.
The company has seen its share of drama over the years. Most recently, its stock has sold off 30% since early September 2018, causing its dividend yield to soar to a record high near 5%. That said, let’s take a look at the company’s latest slump to review if anything appears to have changed with its dividend safety profile or long-term outlook.
Thanks to its regulated business model and management’s conservative capital allocation, the company has long been a source of safe and growing dividends. And combined with strategic acquisitions and diversification into the midstream industry, it has delivered some of the best earnings and dividend growth rates of any regulated utility.