3 Dividend Stocks to Bank On for Consistent Income

Your portfolio can be a reliable source of income if you pick the right dividend stocks. There are numerous dividend stocks for consistent income that pay out dividends frequently, either monthly or quarterly. Moreover, as these businesses grow earnings, they increase their dividends periodically, gradually increasing your yield on cost. From their dividend growth record, it’s evident that these are established businesses with economic moats. Otherwise, they would not have sustained the dividend growth for that long. Currently, the following three dividend aristocrats are undervalued and guarantee consistent income.

These undervalued dividend stocks provide consistent income and have increased payments for over 25 years. NextEra Energy (NEE): Expect more dividend increases from earnings growth driven by a record renewable project backlog. Medtronic (MDT): This healthcare technology giant yields over 3% and expects mid-single-digit top-line growth. Target (TGT): This dividend growth star has surmounted its inventory and pride backlash problems.

Source: InvestorPlace

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