7 ‘Strong Buy’ Dividend Kings to Own Now If the Fed Rate Increase This Week Is Huge

The company’s BD Interventional segment offers hernia and soft tissue repair, biological and bioresorbable grafts, biosurgery and other surgical products; surgical infection prevention, surgical and laparoscopic instrumentation products; peripheral intervention products; and urology and critical care products.

Becton Dickinson stock investors receive a 1.40% dividend. Morgan Stanley’s $295 price target compares with the $284.45 consensus target and Friday’s close at $249.33 a share.

Black Hills

This Dividend King is way off the radar for many, but it is among the safest plays now. Black Hills Corp. (NYSE: BKH) operates as an electric and natural gas utility company in the United States.

The Electric Utilities segment generates, transmits and distributes electricity to approximately 218,000 electric utility customers in Colorado, Montana, South Dakota and Wyoming. It owns and operates 1,481.5 megawatts of generation capacity and 8,892 miles of electric transmission and distribution lines.

The Gas Utilities segment distributes natural gas to approximately 1,094,000 natural gas utility customers in Arkansas, Colorado, Iowa, Kansas, Nebraska and Wyoming. It owns and operates 4,732 miles of intrastate gas transmission pipelines, 41,644 miles of gas distribution mains and service lines, six natural gas storage sites and approximately 50,000 horsepower of compression and 515 miles of gathering lines.

The company also constructs and maintains gas infrastructure facilities for gas transportation customers, and it provides appliance repair services to residential utility customers, as well as electrical system construction services to large industrial customers. In addition, it produces electric power through wind, natural gas and coal-fired generating plants, as well as coal at its coal mine located near Gillette, Wyoming.

Shareholders receive a 3.20% dividend. The BofA Securities target price is $87, while the consensus target is $82.29. Black Hills stock closed at $74.40 on Friday.

Colgate-Palmolive

This reliable dividend payer is also a very safe play for investors. Colgate-Palmolive Co. (NYSE: CL) is the stock to buy in consumer staples. The company continues to deliver solid execution and is one of the best-positioned in its staples sector, given its strong brands in attractive categories, particularly oral care.

Over half of total revenues (52%) are derived in faster-growth emerging economies, and the company maintains leading or near-leading market shares in Brazil, Russia, India and China. While those have markets slowed over the past year, a pickup in growth could be coming, especially with a weak dollar making products attractive overseas.

Colgate-Palmolive stock comes with a 2.45% dividend. The $88 Stifel price target is higher than the $81.47 consensus target, and shares closed on Friday at $76.63.

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