3 Dividend Kings Whose Growth Streaks Could Break Before 2030
Dividend growth streaks are impressive, but investors should be careful not to assume that they will continue indefinitely. Changes can happen with a company and new risks may arise, potentially putting once-safe Dividend payments in jeopardy. Three stocks with impressive growth streaks that I could see ending before the end of the decade are Johnson Johnson (NYSE: JNJ), Altria Group (NYSE: MO), and 3M (NYSE: MMM).
In April of this year, healthcare giant Johnson Johnson announced it would be raising its dividend by 5.3%. It marked the 61st consecutive year that the company has increased its payout. It's a long streak, even among other Dividend Kings.
Its 3.3% dividend yield is attractive right now, but this is not a payout that I would feel comfortable buying and forgetting about. That's because the company still faces the risk of paying out substantial fines for the talc-related lawsuits brought against it. With tens of thousands of plaintiffs and multiple judges now rejecting the company's efforts to put the liabilities in a subsidiary and to bankrupt it, in an effort to cap its potential exposure to the claims, there's a huge cloud over the business.
Source Fool.com
