Uranium Producer Enriches Shareholders With A Higher Dividend
About: (Cameco, CCJ, Dividend Genius)
We talk a lot about the energy sector and the fact that this group is littered with cash-rich companies that have immaculate dividend histories and robust yields and payouts. That said, we're normally referring to companies in the oil patch or energy trusts or master limited partnerships. Uranium is one part of the energy complex we don't spend a lot of time exploring and it seems like most investors may only be familiar with uranium from watching the nightly news and hearing about some rogue nation boosting its uranium stockpiles to produce nuclear weapons.
Well, uranium is not just a nefarious fuel source. In fact, nuclear power is legitimate energy alternative that is used all over the world, though not much here in the U.S., which is a political point we're not going to lament. There are some interesting stocks in the uranium sector and one is Canada-based Cameco (NYSE: CCJ). Cameco has boosted its quarterly dividend by 17% to 28 cents a share from 24 cents.
The company has an impressive dividend history as the increase represents the sixth dividend hike the past eight years and Cameco has paid a dividend every year since going public in 1991. Cameco's five-year dividend growth rate is an impressive 26%. The new dividend is payable on January 15 to shareholders of record on December 31.
Disclosure: no positions