The Cheapest Dividend Kings in 2024

In the ever-evolving landscape of the stock market, investors are constantly on the lookout for opportunities that offer a balance of stability and profitability. For those seeking reliable income streams, Dividend Kings—stocks with an impressive track record of 50 or more consecutive years of dividend growth—hold a special allure. As we step into 2024, three standout companies, namely 3M, Black Hills, and Johnson & Johnson (JNJ), emerge as top picks based on their forward price-to-earnings ratio (P/E). Below you can find a full compilation of the 20 cheapest Dividend Kings.

3M (MMM)

3M, a multinational conglomerate known for its innovation across various industries, has proven to be a stalwart in the world of Dividend Kings. With a remarkable history of over 60 years of consecutive dividend growth, 3M has consistently rewarded its investors. What makes 3M particularly appealing in 2024 is its forward P/E ratio, a key metric indicating the market's expectations for a company's future earnings.

The current forward P/E for 3M stands at an attractive level, suggesting that the market may be undervaluing the company's earnings potential. This makes 3M a compelling choice for investors looking to secure a steady income from a company with a solid history of dividend payments.

Black Hills Corporation (BKH)

Black Hills Corporation, a diversified energy company, stands out as another cost-effective option for income-seeking investors. With an impressive track record of over 50 years of consecutive dividend increases, Black Hills has demonstrated resilience in navigating the challenges of the energy sector.

The forward P/E ratio for Black Hills is notably favorable, signaling potential undervaluation by the market. This could present an opportune entry point for investors aiming to capitalize on the company's dividend growth history. Black Hills' commitment to maintaining a reliable dividend stream makes it an appealing choice for those prioritizing income stability.

Johnson & Johnson (JNJ)

Johnson & Johnson, a global healthcare giant, has been a Dividend King for over half a century, consistently delivering returns to its investors. In 2024, JNJ stands out as a top pick due to its forward P/E ratio, which positions it as an attractively valued stock in the current market.

As a leading player in the healthcare sector, Johnson & Johnson benefits from a diversified portfolio of products and a resilient business model. The company's commitment to sustaining and growing dividends makes it an appealing choice for income-focused investors. With a forward P/E ratio that suggests room for potential capital appreciation, JNJ offers a compelling combination of stability and growth potential.

Conclusion

In the quest for reliable income, investors can find solace in Dividend Kings, and the year 2024 brings forth opportunities with 3M, Black Hills, and Johnson & Johnson taking the lead. These companies not only boast an impressive history of consecutive dividend growth but also present attractive valuations based on their forward P/E ratios.

While past performance is not indicative of future results, the combination of a robust dividend history and favorable forward P/E ratios positions these stocks as intriguing options for investors seeking a balance of income and potential capital appreciation. As always, thorough research and consideration of individual financial goals are crucial before making any investment decisions in the dynamic landscape of the stock market.

20 Cheapest Dividend Kings by PE

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