Topic: How To Invest

Dividend Advisor Hotline – Friday, July 17, 2020

Article Excerpt

STANLEY BLACK & DECKER INC., $153.36, New York symbol SWK, is a buy. The company started up in 1843 and is now one of the world’s largest makers of hand and power tools for consumers. In addition to Stanley and Black & Decker, its top-selling brands include DeWalt, Craftsman and Irwin. Starting with the September 2020 payment, Stanley raises your quarterly dividend by 1.4%. Investors will then receive $0.70 a share instead of $0.69. The new annual rate of $2.80 yields 1.8%. The company has paid dividends continuously for 143 years and has raised the annual rate each year for the past 53 years. The stock continues to recover since falling to $70.00 on March 23, 2020, during the COVID-19 market drop. But the pandemic and stay-at-home orders have spurred new interest in do-it-yourself projects and the company’s tools. The reopening of more retail stores is also helping to lift sales. As a result, Stanley now expects its second-quarter organic sales (excluding acquisitions and…