Looking for Safe Income? This Stock Raised Its Dividend in the Last 3 Recessions.
There's a lot of concern that a recession could be right around the corner. The Federal Reserve has pushed interest rates to their highest level in years to slow inflation. The worry is that the Fed might have gone too far and could drive the economy into a recession.
Economic downturns can have a meaningful impact on corporate profits and cash flows. Many companies have cut their dividends during past recessions.
However, that hasn't been the case for Essex Property Trust (NYSE: ESS). It has been a haven for income investors over the years. The real estate investment trust (REIT) has an unbroken track record of increasing its dividend since its initial public offering in 1994. That streak seems likely to continue through the next recession.
Source Fool.com
