Author: Marc Lichtenfeld, Wealthy Retirement

This monthly payer has a nearly four-decade track record of consistent dividends.

With more than a decade and a half of dividend increases, management has shown that it takes its dividend seriously.

I don’t suspect the dividend is in immediate danger, but if oil prices sink and free cash flow reverses lower, it’s quite possible that management will reduce the dividend to preserve capital.

I don’t expect to make it to 107, but I haven’t expected a lot of things in my life. I better get prepared.

However, once the calendar turns and the 2022 numbers are no longer included, it should see an upgrade in its safety rating.