10 Safest Dividend Stocks in the UK

7. Unilever PLC (NYSE:UL)

Number of Hedge Fund Holders: 22

Unilever PLC (NYSE:UL), established in 1860 and based in London, is a multinational consumer goods company with operations across Asia Pacific, Africa, the Americas, and Europe. The company provides a wide range of products, including hair and skincare items, soap, fabric care products, cooking aids, and ice cream.

Unilever PLC (NYSE:UL) has decided to abandon its plans to sell its €15 billion ice cream division to private equity firms and will now focus on achieving an independent public listing for the unit. Earlier in 2023, in March, the consumer goods giant announced its intention to spin off its ice cream business and gauge interest from private equity buyers for well-known brands like Ben & Jerry’s, Magnum, and Wall’s.

In the first half of 2024, Unilever PLC (NYSE:UL) saw a 4.1% increase in sales on an underlying basis, supported by three consecutive quarters of positive volume growth. Pricing adjustments aligned with expectations, showing a steady decline. The improvement in gross margins allowed the company to invest more in innovation, significantly boosting overall profitability. Operating profit reached €6.1 billion, marking a 17.1% year-over-year increase.

Unilever PLC (NYSE:UL) reported robust performance in its cash segment, with free cash flow reaching €2.2 billion during the period. By the end of the first half, the company’s cash and cash equivalents totaled €4.97 billion, an increase from €4.1 billion at the end of December 2023. It currently offers a quarterly dividend of $0.4755 per share and has a dividend yield of 3.2%, as of February 10.