Molson and Coors merged in February 2005 and added StarBev in 2012, and it serves markets including the United States, Canada, Eastern Europe and the United Kingdom and Ireland, with exposure to other markets through its Molson Coors International division. It acquired the remainder (58%) of the U.S. joint venture (MillerCoors) in mid-October 2016.
The Coors light brand remains a huge favorite with Generation X and baby boomers, who were all around when the light beer revolution started. The company is now working on opportunities to market a cannabis-infused product.
Shareholders receive a 2.84% dividend. Molson Coors Brewing stock has a $66 price target at Jefferies. The consensus target is $56.94, and shares closed on Monday at $54.06.
Newell Brands
This top consumer goods stock is a safe play for investors worried about a toppy market, and it has backed up recently. Newell Brands Inc. (NASDAQ: NWL) is a manufacturer and marketer of consumer products with six reporting segments: Writing (Sharpie, Paper Mate, Waterman, Parker), Home Solutions (Rubbermaid, Calphalon, Goody), Tools (Irwin, Lenox), Commercial Products (Rubbermaid Commercial Products, Rubbermaid Healthcare), Baby & Parenting (Graco, Aprica) and Jarden (Yankee Candle, Jostens, Oster, Sunbeam, Mr. Coffee, K2, Marmot, Rawlings, Coleman, First Alert and many more).
Consumer staples stocks like Newell tend to be solid ideas in times of inflation and rising rates. In 2021, the company’s cash distributions to shareholders were close to $400 million. During the period, Newell produced roughly $600 million, which included an abnormally large $350 million in cash spent on an inventory buildup, which the company attributed to preparation for sales growth. With a dividend payout ratio below 70%, Newell should continue to easily support the large and tempting dividend.
Holders of Newell Brands stock are paid a 4.36% dividend. Jefferies has a $38 price target. The consensus target is $27.82, and shares closed on Monday at $21.39.
These are eight top dividend-paying defensive stocks for investors looking to stay in equities but trying to avoid high beta momentum names. All these companies are very dominant in their respective sectors and should continue to report solid earnings through 2022 and beyond.
Originally posted at 24/7 Wall St.
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