The dividend king is something of a crown jewel for income investors. These are stocks that have paid out a dividend for at least 50 consecutive years.
Coca-Cola (NYSE:KO) is the largest non-alcoholic beverage company in the world. Many consumer staples have long dividend-growth histories. Coca-Cola boasts a portfolio that spans more than 21 brands and has reported over $1 billion in sales worldwide.
There were reports in the fall of 2018 that suggested Coca-Cola was in serious talks with Aurora Cannabis to develop cannabis-infused beverages.
However, later in the year CEO James Quincey threw cold water on the idea. Cannabis is still illegal under federal law for any purpose, which would complicate such a pursuit for a company with the reach of Coca-Cola.
Coca-Cola last paid out a quarterly dividend of $0.40 per share.
This represents a 3.4% yield. For the full-year in 2018 the company reported that revenues dropped 10% from 2017 to $31.9 billion. Coca-Cola has battled slumping sales in North America and Latin America and is vesting more and more hope in its growth in Africa.
Its Europe, Middle East, and Africa (EMEA) segment reported a 6% increase in concentrate sales. However, net revenues were still down 2% year over year.
Coca-Cola stock has dropped 4% in 2019 as of early afternoon trading on March 7. The stock boasts an RSI of 38, which is just outside of oversold territory. Investors hungry for a steady dividend should consider Coca-Cola stock today.
