Retirement Stock Portfolio: 12 Safe Dividend Stocks To Consider

Published on November 27, 2023 at 10:18 am by Vardah Gill in Dividend Stocks, Hedge Funds, News

In this article, we discuss 12 safe dividend stocks to consider for a retirement stock portfolio. You can skip our detailed analysis of the retirement situation in the US and the performance of dividend stocks over the years, and go directly to read Retirement Stock Portfolio: 5 Safe Dividend Stocks To Consider.

Over three and a half years after the onset of COVID-19, the US continues to have approximately 2 million more retirees than initially projected, marking one of the most notable and lasting shifts in the country’s workforce, as reported by Bloomberg. This unexpected rise in retirements is evident in the significant difference between the number of retirees currently and what was forecasted by a Federal Reserve economic model. Though the gap has decreased from 2.8 million late last year, it remains higher than anticipated and has even increased from 1.7 million in June. Even with the increasing population of retirees in the US, numerous baby boomers express that they lack adequate funds to sustain their retirement lifestyle.

In the current market landscape, investing for retirement requires a thoughtful and diversified approach. With economic uncertainties, varying interest rates, and market volatility, choosing the right investment avenues becomes pivotal. Due to these challenges, many ordinary Americans are struggling to retire comfortably with their existing income. Bankrate’s September survey revealed that approximately 56% of employed or temporarily unemployed Americans believe they’re falling short in saving for retirement. Additionally, nearly a quarter of workers admitted to not making any contributions to their retirement accounts for at least a year. Mark Hamrick, Bankrate’s senior economic analyst, made the following comments in the report:

“Amid the tumultuous developments of the past several years, including a short but severe recession and a period of high and sustained inflation, a majority of Americans say they’re not where they need to be to achieve their retirement savings goals.”

Retirement investments ideally balance growth potential with stability. Typically, a diversified portfolio involving a mix of stocks, bonds, and other assets can be beneficial. In addition to this, dividend stocks can be a valuable component of a retirement portfolio due to their potential to generate consistent income. These stocks belong to companies that regularly distribute a portion of their earnings to shareholders. For retirees seeking a reliable income stream, dividend-paying stocks can be beneficial as they provide a source of passive income. Over recent years, dividend stocks have demonstrated considerable returns. Conover et al. (2016) conducted an empirical study spanning more than 50 years of US data, from 1962 to 2014, revealing that investing in dividend-paying stocks not only boosts returns but also notably mitigates risk across both value and growth portfolios, regardless of market capitalization. Their findings highlighted that the risk reduction was particularly pronounced when combining growth and value styles. The study also indicated that dividend-paying growth stocks tend to yield higher returns compared to non-dividend-paying stocks. This research underscores the diversification advantages gained by incorporating an income-focused strategy into an investment portfolio.

Also read: Retirement Stock Portfolio: 12 Consumer Stocks To Consider

The Procter & Gamble Company (NYSE:PG), Colgate-Palmolive Company (NYSE:CL), and PepsiCo, Inc. (NASDAQ:PEP)are some of the best dividend stocks that can be added to a retirement stock portfolio due to their extensive history of consistently increasing dividends. Such consistency in dividend growth signifies financial stability, strong management, and a commitment to rewarding investors, making these stocks appealing to those seeking reliable income during retirement. In this article, we will take a look at other dividend stocks to consider for a retirement stock portfolio.

Photo by Vitaly Taranov on Unsplash

Our Methodology:

To create this list, we looked through Insider Monkey’s Q3 2023 database and selected companies that consistently increased their dividends for at least 10 years. Then, we narrowed down this list by choosing stocks that offer dividend yields exceeding 3%. This process aimed to find companies with a strong history of regularly boosting dividends while focusing on those currently providing a higher dividend yield. The stocks are ranked in ascending order of the number of hedge funds having stakes in them.

12. Flowers Foods, Inc. (NYSE:FLO)

Number of Hedge Fund Holders: 27

Flowers Foods, Inc. (NYSE:FLO) is an American leading producer and marketer of bakery products. The company operates through a network of bakeries across the country and distributes its products through various channels, including retail, food service, and convenience stores. It currently pays a quarterly dividend of $0.23 per share and has a dividend yield of 4.30%, as of November 27. FLO can be added to a retirement stock portfolio as the company has been raising its dividends for 21 consecutive years.

The number of hedge funds tracked by Insider Monkey owning stakes in Flowers Foods, Inc. (NYSE:FLO) grew to 27 in Q3 2023, from 21 in the previous quarter. The collective value of these stakes is over $166.7 million.

11. Edison International (NYSE:EIX)

Number of Hedge Fund Holders: 28

Edison International (NYSE:EIX) is an American utility holding company, based in California. The company mainly focuses on providing electricity to residential, commercial, industrial, and agricultural customers. It has raised its dividends for 19 years in a row and the company currently offers a quarterly dividend of $0.7375 per share. As of November 27, the stock has a dividend yield of 4.48%.

At the end of Q3 2023, 28 hedge funds tracked by Insider Monkey reported having stakes in Edison International (NYSE:EIX), up from 25 in the previous quarter. The consolidated value of these stakes is over $1.15 billion. With over 13.3 million shares, Pzena Investment Management was the company’s leading stakeholder in Q3.

10. Kimberly-Clark Corporation (NYSE:KMB)

Number of Hedge Fund Holders: 31

Kimberly-Clark Corporation (NYSE:KMB) is a multinational consumer goods company primarily engaged in the manufacturing and marketing of personal care and hygiene products. The company is a Dividend King, having raised its payouts for 51 years straight. It offers a quarterly dividend of $1.18 per share and has a dividend yield of 3.86%, as recorded on November 27. The company has always remained committed to its shareholder obligation as it returned over $1.3 billion to investors in dividends and share repurchases during the first nine months of the year.

As of the end of Q3 2023, 31 hedge funds in Insider Monkey’s database owned investments in Kimberly-Clark Corporation (NYSE:KMB), worth collectively over $790.4 million.

9. The Clorox Company (NYSE:CLX)

Number of Hedge Fund Holders: 34

The Clorox Company (NYSE:CLX) is an American multinational consumer goods company known for producing a diverse range of household and professional cleaning and disinfecting products. On November 15, the company declared a quarterly dividend of $1.15 per share, which was in line with its previous dividend. The stock can be added to a retirement stock portfolio as the company maintains a 20-year streak of consistent dividend growth. The stock’s dividend yield on November 27 came in at 3.40%.

At the end of September 2023, 34 hedge funds tracked by Insider Monkey reported having stakes in The Clorox Company (NYSE:CLX), which remained the same from the previous quarter. The total value of these stakes is over $534.3 million.

8. Duke Energy Corporation (NYSE:DUK)

Number of Hedge Fund Holders: 39

Duke Energy Corporation (NYSE:DUK) is a North Carolina-based power holding company that primarily operates in electric power generation, transmission, distribution, and energy services. The company has been making regular dividend payments to shareholders for the past 97 years and has raised its payouts for 12 consecutive years. The company offers a per-share dividend of $1.025 every quarter and has a dividend yield of 4.52%, as of November 27.

Duke Energy Corporation (NYSE:DUK) was a part of 39 hedge fund portfolios at the end of Q3 2023, as per Insider Monkey’s database. The collective value of stakes owned by these hedge funds is over $428.5 million. Among these hedge funds, Balyasny Asset Management was the company’s leading stakeholder in Q3.

7. Texas Instruments Incorporated (NASDAQ:TXN)

Number of Hedge Fund Holders: 53

Texas Instruments Incorporated (NASDAQ:TXN) is a global semiconductor company known for designing and manufacturing integrated circuits and related technologies. The company offers a quarterly dividend of $1.30 per share, having raised it by 5% in October this year. Through this increase, the company took its dividend growth streak to 12 years, which makes it one of the best stocks to be added to a retirement stock portfolio. The stock’s dividend yield on November 27 came in at 3.39%.

As of the close of Q3 2023, 53 hedge funds tracked by Insider Monkey owned stakes in Texas Instruments Incorporated (NASDAQ:TXN), compared with 56 in the preceding quarter. Their collective stake value is over $2 billion.

6. International Business Machines Corporation (NYSE:IBM)

Number of Hedge Fund Holders: 53

An American multinational tech company, International Business Machines Corporation (NYSE:IBM) is next on our list of safe dividend stocks to consider for a retirement stock portfolio. The company’s current quarterly dividend comes in at $1.66 per share for a dividend yield of 4.28%, as of November 27. It has been rewarding shareholders with growing dividends for the past 28 years.

As of the close of the third quarter of 2023, 53 hedge funds in Insider Monkey’s database owned investments in International Business Machines Corporation (NYSE:IBM). The total value of stakes owned by these funds came in at over $843 million. Among these hedge funds, Marshall Wace LLP was one of the company’s leading stakeholders in Q3.

Click to continue reading and see Retirement Stock Portfolio: 5 Safe Dividend Stocks To Consider.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on May 1, 2024 at by Inan Dogan, PhD

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A New Dawn is Coming to U.S. Stocks

Published on May 2, 2024 at by Insider Monkey Staff

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