United Technologies “raised its quarterly dividend by 5% to $0.74/share in October. CFRA Equity Analyst Jim Corridore forecasts 15% earnings growth for UTX to $9.00 per share for 2020. If achieved, it would result in the company paying out only 33% of earnings through dividends, providing ample flexibility for additional dividend increases,” according to Rosenbluth.
The other two additions to the S&P 500 Dividend Aristocrats Index are financial services names. Currently, NOBL allocates 10.08% to financials, making that the ETF’s sixth-largest sector weight.
Insurance provider Chubb (NYSE: CB) “raised its quarterly dividend in May by only 2.8% to $0.73/share, it was enough to extend the consecutive annual streak to 25 years. CFRA Equity Analyst Cathy Seifert projects the insurer will generate 13% earnings growth in 2019 to $11.45 per share, which would result in a modest 26% dividend payout,” said Rosenbluth.
CFRA has an Overweight rating on NOBL.
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