2 Incredible Oil-Fueled Dividend Growth Stocks
The oil patch has a lackluster track record of paying dividends. Many oil companies pay lucrative dividends during boom times only to slash their payouts when prices fall.
However, some oil stocks have excellent track records of growing their dividends despite all the market volatility. Two oil producers that have delivered big-time dividend growth over the years are EOG Resources (NYSE: EOG) and Pioneer Natural Resources (NYSE: PXD). In addition to paying a rapidly rising base dividend, they have also started making additional payments from their oil-fueled windfalls.
EOG Resources has an impressive dividend track record. The oil company has never suspended or reduced its dividend payment. While it hasn't increased it every year, EOG has grown it at a more than 20% compound annual rate over the last two decades. The company most recently boosted its dividend by 82% and has doubled it over the past year. It currently offers investors an attractive dividend yield of more than 2.5%, one of the highest in the oil patch and well above the 1.6% yield of an S&P 500 index fund.
Source Fool.com
