Early Retirement Portfolio: 5 Stocks to Live Off Dividends Revisited

In this article, we discuss 5 best dividend stocks for retirement. If you want to read our detailed analysis of the early retirement phenomenon and dividend stocks, go directly to read Early Retirement Portfolio: 15 Stocks to Live Off Dividends Revisited. 

5. Black Hills Corporation (NYSE:BKH)

Dividend Yield as of February 14: 3.92%

Black Hills Corporation (NYSE:BKH) is an American diversified energy company, based in South Dakota. On January 25, the company declared a quarterly dividend of $0.625 per share, which fell in line with its previous dividend. In 2022, it completed 52 consecutive years of dividend increases, which places it as one of the best dividend stocks for retirement. The stock’s dividend yield on February 14 came in at 3.92%.

In February, Wells Fargo maintained an Equal Weight rating on Black Hills Corporation (NYSE:BKH) with a $65 price target.

In Q4 2022, Black Hills Corporation (NYSE:BKH) reported revenue of $791.4 million, which showed a 40.7% growth from the same period last year. The company also presented a capital investment forecast of $3.5 billion through 2027.

At the end of Q3 2022, 16 hedge funds tracked by Insider Monkey reported owning stakes in Black Hills Corporation (NYSE:BKH), compared with 19 in the previous quarter. The collective value of these stakes is over $104.6 million. Among these hedge funds, Adage Capital Management was the company’s leading stakeholder in Q3.