Andreus/iStock via Getty Images
Introduction
As a new retiree, I now have a lot of time on my hands to do one of my favorite hobbies, search for dividend stocks! One stock I came across while researching was Otis Worldwide Corporation (
Otis Worldwide: Put This Dividend Grower On Your Radar
Summary
- Otis Worldwide Corporation has a short dividend track record but has the potential to be a long-term hold for dividend investors.
- The company has shown impressive dividend growth, increasing the dividend by 70% since 2020.
- OTIS has been actively repurchasing shares and has room to continue raising the dividend, with a safe payout ratio and growing cash flows.
- The elevator industry is projected to grow at a rate of 7% through 2030, which will likely benefit Otis Worldwide positively.
- The company continues to face headwinds due to the high interest rate environment as new equipment orders was down in both Q2 and Q3.
Contributing analyst to the iREIT+Hoya Capital investment group. The Dividend Collectuh is not a registered investment professional nor financial advisor and these articles should not be taken as financial advice. This is for educational purposes only and I encourage everyone to do their own due diligence. I'm a Navy veteran who enjoys dividend investing in quality blue-chip stocks, BDC's, and REITs. I am a buy-and-hold investor who prefers quality over quantity and plans to supplement his retirement income and live off dividends in the next 5-7 years. I aspire to reach and help the hard working, lower and middle class workers build investment portfolios of high quality, dividend-paying companies. I also hope to give investors a new perspective to help them reach financial independence.
Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.