As you may know, the Canadian stock market offers investors a plethora of excellent dividend companies. However, there are also outstanding dividend stocks in the U.S. that deserve consideration for your portfolio. By diversifying your holdings across different countries, investors could provide their portfolios with additional stability.
In this article, I’ll discuss three U.S. dividend stocks that could turbo charge your portfolio. All three stocks are currently listed as Dividend Aristocrats, which means they have increased dividend distributions for at least 25 consecutive years.
This company is absolutely massive
Unless you’ve done research on this company, you may not be aware of how big Procter & Gamble (NYSE: PG) actually is. This company operates more than 60 brands. This includes the likes of Charmin, Febreze, Gillette, Old Spice, Pampers, Tampax, and Tide, among many others. This breadth in Procter & Gamble’s product portfolio is what attracted me to the company many years ago, when I made it the very first stock that I owned.
Another aspect of Procter & Gamble that attracted me was its dividend. As of this writing, it has raised its dividend distribution in each of the past 66 years. That gives it the longest active dividend-growth streak in the U.S. With a forward dividend yield of 2.62%, investors would also receive good value for their money. If you’re only interested in one U.S. dividend stock, I highly recommend considering Procter & Gamble.
A behemoth healthcare company
Johnson & Johnson (NYSE: JNJ) is another massive company that Canadians should take note of. Although its product portfolio may not be as large as Procter & Gamble’s, its products have carved out massive moats in their respective niches. For example, Johnson & Johnson is the company behind popular names such as Band-aid, Benadryl, Listerine, Nicorette, and Tylenol, among many others. Similar to Procter & Gamble, this breadth in Johnson & Johnson’s product lineup is what convinced me to make it the second stock in my initial portfolio.
Listed as another Dividend Aristocrat, Johnson & Johnson has managed to grow its dividend in each of the past 60 years. That’s an incredible feat which should be noted by investors. For comparison, the longest active dividend-growth streak by a Canadian company is 49 years. Johnson & Johnson also offers investors with an attractive dividend yield of 2.78%.
Invest in this reliable retailer
Finally, investors should consider adding Walmart (NYSE:WMT) to their portfolios. This massive retailer operates nearly 10,600 locations across 12 countries. Not only that, but within a single location, consumers can find nearly anything that they may need. That includes groceries, clothing, pharmaceuticals, automotive items, and more.
Like the other two stocks discussed here, Walmart has done an excellent job of increasing its dividend over the years. It currently holds a 49-year dividend-growth streak. Although it only offers investors a forward dividend yield of 1.68%, its 44.4% payout ratio suggests that the company could continue to comfortably raise its dividend in the future.
