There Are Only a Handful of Dow Stocks That Yield Over 3%. Here's My Top Pick to Buy Before September Ends.
Chevron may look like an old-school oil stock, but its emerging power business could give dividend investors a new reason to pay attention.
As of now, only a small number of Dow Jones Industrial Average stocks pay dividends over 3%, according to recent data. The Dow, which includes some of America's most well-known companies, currently yields around 1.5%, reflecting how share prices have risen faster than dividend growth. Chevron, a notable player in the Dow, is an exception with a yield near 3%.
This energy giant's subsidiary, Energy Forge One, has recently inked a 20-year power purchase agreement with tech giant Microsoft for supplying electricity to a data center campus in Reeves County, Texas. Known as Project Kilby, this development aims to generate approximately 2.67 gigawatts of power, enough to meet the needs of over 530,000 Texas homes, as reported by Bloomberg.
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