Depend on these niche dividend stocks

Article Excerpt

These two companies have held their dividends steady for several years, and we feel their current payouts continue to be safe. Both are also leaders in niche industries, which cuts your risk. RUSSEL METALS INC. $30 is a buy. The company (Toronto symbol RUS; Cyclical-Growth Dividend Payer Portfolio, Manufacturing & Industry sector; Shares outstanding: 63.1 million; Market cap: $1.9 billion; Dividend yield: 5.1%; Dividend Sustainability Rating: Above Average; www.russelmetals.com) is one of the largest metals distributors in North America with more than 30,000 end customers across many different industries. Russel has paid regular quarterly dividends of $0.38 a share since the third quarter of 2014; the annual rate of $1.52 yields a high 5.1%. The company has made 82 consecutive quarterly dividend payments. The company’s revenue in the three months ended June 30, 2022, jumped 27.5%, to $1.36 billion from $1.07 billion a year earlier. That reflects the improving economy and higher oil prices. (Russel supplies pipes to oil and gas drillers.) Russel earned $124.0 million, or $1.96…

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