12 Dividend-paying Stocks That Will Boost Your Retirement Income

Dominion Energy

Dominion Energy, with a market value of $60.4 billion, decided to cut its dividends last year. So, why are we including them on our list? The 33% dividend cut makes sense, especially since the company sold its natural gas transmission and storage business.

Instead, the company moved close to a pure-play regulated utility with 90% of its operating earnings from state-regulated gas and electric utilities, compared to 70% previously. To you and me this means they’ll continue generating predictable earnings thanks to getting rid of their slower-growing gas business.

This means that their dividend growth streak is 0, but management expects to deliver 6.5% annual earnings growth starting from 2022. Also in 2022, dividends are also expected to grow at a rate of 6%- quite a jump considering their previous 2.5% target.

Right now, Dominion Energy’s dividend yield sits at 3.4%.

General Mills

In the consumer staples sector, we’ve got General Mills with a market value of $35.8 billion and dividend yields of 3.5%. Did you know that the company has been around since the 19th century and has been involved in several industries such as toys, apparel, and restaurants? In 1996, they shifted their focus to foods and nowadays you can count on them for strategic and safe retirement investments.

They own a variety of well-known brands. Plus, the steady nature of food consumption ensures their success year after year. They even generated profits during the pandemic while a lot of other businesses stayed afloat.

Since acquiring Blue Buffalo in 2019, their dividends have been kept frozen, though recently management announced a 4% increase. So, despite the dividend growth streak being at 0 currently, take a look at their yield which currently sits at 3.5%.