In June, I started a new article series to present the top-ranked dividend growth stocks in each GICS sector. The first article introduced the best dividend growth stocks in the Communication Services sector, while the second article presented the best in the Consumer Discretionary sector.
Today, we’ll consider dividend growth stocks in the Consumer Staples sector. The Consumer Staples sector contains companies that provide essential products, such as food, beverages, and household items. These are products that individuals are either unwilling or unable to cut from their budgets even in times of financial hardship. The Consumer Staples sector typically outperforms the market during recessions and economic downturns. For this reason, stocks in this sector are defensive stocks.
As a dividend growth investor, I look to invest in high-quality stocks trading at reasonable valuations. Additionally, I look to diversify my portfolio by investing in different sectors, so mitigating some risk.
My watch list for candidates is Dividend Radar, a list of stocks trading on U.S. Exchanges with dividend increase streaks of at least five years. The list is updated and published every Friday and is available for download here. The latest edition (dated June 25, 2021) contains 762 stocks and 42 Consumer Staples sector stocks.
This article presents the seven top-ranked dividend growth stocks in the Consumer Staples sector. A few of them trade at reasonable valuations for such high-quality stocks!
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