My No. 1 Top Dividend Stock for May
Hormel (NYSE: HRL) is one of the lowest-yielding stocks in my portfolio even though its dividend yield is historically high. In fact, the core reason I bought it was its impressive dividend growth. There's more to tell on that score, but the key takeaway is that I'm still in the green on the investment even though the yield is higher today than when I started acquiring it.
If you are looking for a consumer staples company, this would be my top pick today.
Hormel has increased its dividend annually for 57 consecutive years, which makes it a highly elite Dividend King. The dividend yield today is around 2.7%. That's not huge on an absolute basis, but it is near the highest levels in the company's history. Using yield as a rough valuation tool, that suggests that Hormel is on the sale rack right now.
Source Fool.com
