Phillips 66 (NYSE:PSX) is working to build its three platforms, which include refining, midstream, and chemicals. The company has billions of dollars in future growth opportunities, thanks to the phenomenal growth of U.S. oil and gas production. However, it’s taking a balanced approach as it invests to grow its business, while leaving plenty of capital left over to reward investors by growing its dividend and buying back stock. Add it all up, and Phillips 66 (NYSE:PSX) offers investors a balance of growth and shareholder distributions, which make it a great dividend stock for the long-term.
Foolish bottom line
While all three are great dividend stocks for an IRA, I’d like to draw your attention to the 4% dividend from Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX). Not only does the company offer a fantastic current yield, but, because of its exposure to commodities — especially gold — it provides a great long-term inflation hedge. That puts investors on a nice path forward as we navigate an always uncertain future.
The article 3 Great Dividend Stocks for Your IRA originally appeared on Fool.com and is written by Matt DiLallo.
Fool contributor Matt DiLallo owns shares of Phillips 66 (NYSE:PSX). The Motley Fool recommends National-Oilwell Varco, Inc. (NYSE:NOV). The Motley Fool owns shares of Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) and National Oilwell Varco.
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