Author: Brian Bollinger, Simply Safe Dividends

Based on what we know today, the stock seems like a reasonable source of current income.

It appears to be one of the best utility stocks for safe dividend income.

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.

Ultimately, the company looks like an above-average choice with a well-covered dividend in a highly defensive sector.