If You Like Dividends, You Should Love These 3 Stocks

If you are looking for dividend stocks today, this trio of longtime payers is going to be right up your alley. They range from dividend growth names to high-yield, but all of them are worthy of some serious investor love. Here's why you'll probably like Hormel Foods (NYSE: HRL), W.P. Carey (NYSE: WPC), and Enbridge (NYSE: ENB) enough to add them to your portfolio.

In 2012, foodmaker Hormel paid $0.30 per share in dividends for the year. In 2022, the annualized dividend is $1.04 per share, nearly three and a half times larger in less than a decade. That's impressive dividend growth. Sure, the current yield is only around 2%, but the dividend growth makes up for the modest starting yield. Here's the thing, though: That yield is toward the high end of Hormel's historical yield range, so the stock looks relatively cheap.

What are you getting? A food company with a long history of growth focused around protein products. It owns some of the most iconic brands in the food space, including SPAM, Skippy, and Planters. And, proving its long-term success, it has managed to increase its dividend every single year for a huge 56 years, making it a Dividend King. The company has deftly used acquisitions to spur its expansion of late, including deals that have increased its reach into foreign markets. Inflation is a headwind right now, but inflation is a normal fact of life in the food space that management knows how to handle. Dividend growth investors should definitely like Hormel.

Source Fool.com