A blue chip company is generally considered to be one that has survived the market’s ups and downs, and become a large, well-known company having a long history of sound financial performance. The term ‘Blue Chip’ was coined by Oliver Gingold in 1923. If you are looking we know what are the best blue chip dividend stocks in 2017.
Blue chip stocks generally give high returns over the long term and should add some degree of safety to one’s portfolio. It is not obligatory for blue chip stocks to give dividends. For example, technology giants like Alphabet Inc. (NASDAQ: GOOG) and Facebook Inc. (NASDAQ: FB) do not pay dividends. However, most blue chips have long records of paying dividends. The 10 Best Blue Chip Dividend Stocks in 2017 provide the potential for both capital growth and a steady income stream in the form of dividend payments.
Consolidated Communications Holdings (NASDAQ: CNSL) is a leading broadband and business communications company. With the recent acquisition of FairPoint, Consolidated Communications Holdings has expanded its advanced fiber optic network to more than 36,000 fiber route miles. The company serves businesses of all sizes and wireless companies and carriers in 24 states. Consolidated Communications offers a wide range of communications solutions, including data, voice, video, managed services, cloud computing, and wireless backhaul. Consolidated Communications has a healthy dividend yield of over 8% at $1.55 per share annually. The company has been paying dividends for 48 quarters in a row.
Buckeye Partners L.P. (NYSE: BPL) is a master limited partnership (MLP) engaged in providing midstream logistic solutions for liquid petroleum products. It is one of the largest independent liquid petroleum products pipeline operators in the U.S in terms of volumes delivered. Buckeye Partners L.P. (NYSE: BPL) is also one of the largest U.S independent operators in terms of the capacity of terminating and storage. The company owns and operates a diversified network of integrated assets consisting of the transportation, storage, and marketing of liquid petroleum products. Buckeye Partners has been paying dividends since its formation in 1986.
Vector Group Ltd (NYSE: VGR) is a leading manufacturer and seller of cigarettes through its Liggett and Vector Tobacco subsidiaries. The company also has dealings in real estate through its New Valley subsidiary. Vector Group Ltd (NYSE: VGR) sells cigarettes under popular brand names like Eve, Grand Prix, Pyramid, Liggett Select, and Eagle 20’s. Vector’s real estate business owns over 20 properties, consisting of land, apartments, hotels, condominiums, and marginal stakes in commercial properties. The company is a free cash flow generator with diversified businesses which enables it to grow its dividends. Vector Group has an impressive dividend yield of 7.7% and has grown its payouts at a 5% CAGR over the last decade.
If you like this list you’ll surely love our more extended version of this list. Do read the full article about 10 best blue chip dividend stocks in 2017 on Inside Monkey.