This Terrific Dividend Stock Is Spending $5.6 Billion to Add Even More Fuel to Its Dividend Growth Engine
EOG Resources (NYSE: EOG) has an excellent record of paying dividends. The oil and gas producer has delivered 27 years of sustainable and growing dividends. While the company hasn't increased its payout every single year since its initial public offering, it has never reduced its payment, which is a rarity in the oil patch. Further, it has grown its payout twice as fast as its peers since 2019. On top of that, EOG has paid several special dividends in recent years. The oil stock recently added a lot more fuel to its dividend growth engine. It's buying Encino Acquisition Partners in a $5.6 billion deal that's so accretive that EOG is boosting its dividend payment by another 5%. That will further increase its already attractive yield of over 3.5%, more than double the S&P 500's (SNPINDEX: ^GSPC) 1.3% dividend yield. Continue reading
EOG Resources (NYSE: EOG) has an excellent record of paying dividends. The oil and gas producer has delivered 27 years of sustainable and growing dividends. While the company hasn't increased its payout every single year since its initial public offering, it has never reduced its payment, which is a rarity in the oil patch.
Further, it has grown its payout twice as fast as its peers since 2019. On top of that, EOG has paid several special dividends in recent years.
The oil stock recently added a lot more fuel to its dividend growth engine. It's buying Encino Acquisition Partners in a $5.6 billion deal that's so accretive that EOG is boosting its dividend payment by another 5%. That will further increase its already attractive yield of over 3.5%, more than double the S&P 500's (SNPINDEX: ^GSPC) 1.3% dividend yield.
