1 Dividend Juggernaut Down 39% to Buy on the Dip
This dividend powerhouse should benefit from President Donald Trump's tariff and trade polices.
President Donald Trump's sweeping tariffs have thrown a monkey wrench into the growth plans for some of the largest companies in the U.S. Nucor (NYSE: NUE), however, remains undeterred, and its CEO Leon Topalian has even publicly supported Trump's tariff policy. The Trump administration, after all, imposed a 50% tariff on steel and aluminum imports effective June 4, and that should work in favor of Nucor, also North America's largest and most diversified steel producer.
Nucor is already sitting on its highest backlog ever and just provided an upbeat guidance for its second quarter. Nucor is also a Dividend King -- a label only a handful of publicly listed companies in the U.S. can boast of -- and recently declared its 209th consecutive quarterly dividend. The steel stock, however, is still trading almost 39% off its all-time highs as of this writing, making it a dividend juggernaut you'd want to buy hand over fist on the dip.
Image source: Getty Images.
