This Cash-Gushing Energy Stock Just Raised Its Dividend by 20%
The U.S. stock market continues to roar higher. What's surprising is that the best performing sector in the S&P 500 is none other than energy stocks -- the very same sector that finished dead last in 2020.
Equinor's (NYSE: EQNR) CFO, Ulrica Fearn, put it well: "compared with the quarter last year, the price environment could hardly be more different." She's right. We are nearly two-thirds into 2021 and oil and gas prices are having a very strong year. It's a critical reprieve for integrated oil and gas majors like Equinor that went through the wringer in 2020. Equinor's business has rebounded and is gushing tons of free cash flow (FCF), providing ample dry powder to raise the dividend. Let's take a look at why Equinor could be a great dividend stock to buy now.
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Source Fool.com
