Topic: How To Invest

Dividend Advisor Hotline – Friday, December 11, 2020

Article Excerpt

CAMPBELL SOUP CO., $47.21, New York symbol CPB, is a buy. With the February 2021 payment, Campbell will raise your quarterly dividend by 5.7%. Investors will then receive $0.37 a share instead of $0.35. The new annual rate of $1.48 yields a solid 3.1%. The company continues to benefit from its new strategic plan, which began in 2018. Under that plan, it sold most of its international and refrigerated-foods businesses. That let it focus on canned soups, pasta and V8 vegetable juices. Campbell also kept its snack foods operations. They were significantly expanded in March 2018 when the company paid $6.1 billion for snack-foods maker Snyder’s-Lance. Demand for canned foods and snacks remains strong as more people eat at home during the pandemic. In its fiscal 2021 first quarter, ended November 1, 2020, Campbell’s sales rose 7.2%, to $2.34 billion from $2.18 billion a year earlier. That beat the consensus forecast of $2.32 billion. If you adjust for the businesses Campbell sold, sales…