Double-Digit Dividend Growth For A Decade? This Retailer Is A Star!
It’s been a rough couple of weeks in the stock market.
I wish it were up and down – recently it’s just been down!
Retail in particular has been getting hammered.
The sector’s down almost 15% over the last month.
Ouch!
But it isn’t all doom and gloom for retailers and their investors.
One bright spot: Dick’s Sporting Goods (ticker: DKS).
Dick’s is the top sporting goods retailer in the United States.
No other company has a larger share of the sporting goods market than Dick’s!
And sporting goods’ a big and growing industry.
Think of the impact WNBA superstar Caitlin Clark’s going to have on young girls.
More and more girls are putting down Barbie and picking up a basketball.
And it isn’t just girls and basketball.
Both of my kids are huge into soccer. The practice fields feel like a second home!
The soccer fields are getting more packed each year. Parking’s a nightmare!
Plus, a World Cup in the United States next year means the growth will get even crazier.
All of those kids need to get sporting gear, right? That’s where Dick’s enters the picture!
Their growth prospects are great – but there’s another reason I love Dick’s even more.
It’s their dividend!
Dick’s is one of the only companies to increase their dividends by double-digits each year over the last decade.
Not just among retailers – the entire stock market!
And guess what? Dick’s is doing it AGAIN!
They’re hiking up their dividend another 10% to $1.21 per share.
But you have to act QUICKLY!
You must grab the stock by March 27th to get the higher payment.
That’s just 3 days from now!
There’s another reason to move fast.
Dicks’ dividend yield is around 2.5%.
2.5% isn’t a lot – but Dicks’ dividend yield hasn’t been higher in over a year!
Dick’s isn’t only giving money to investors through dividends.
In their earnings call earlier this month, Dicks’ management announced a $3 billion share buyback program over the next 5 years.
Dick’s is sending a lot of cash back to their investors!
Dick’s is also trading at a serious discount.
Even Wall Street thinks Dick’s is a steal.
Analysts’ target price is 25% higher than where Dick’s currently trades!
25% is a huge amount of upside with a growing dividend.
Are you buying Dicks on this news?
Send me an email!
Michael Jennings, Editor
This post originally appeared at Dividend Stocks Research.
Category: Dividend Stocks
