5 Best Long-Term Dividend Stocks To Buy Now

2. Union Pacific Corporation (NYSE:UNP)

Number of Hedge Fund Holders: 85
Consecutive Years of Dividend Growth: 16
5-Year Average Payout Ratio: 41.4%

Union Pacific Corporation (NYSE:UNP) is a Nebraska-based transport company that operates one of the largest railroad networks in the country. In the first quarter of 2023, the company posted revenue of $6.06 billion, which saw a 3.4% growth from the same period last year. The company’s operating cash flow for the quarter came in at over $1.8 billion. It paid $795 million in dividends to shareholders.

Union Pacific Corporation (NYSE:UNP), one of the best long-term stocks, currently pays a quarterly dividend of $1.30 per share. The company has raised its dividends for 16 years in a row. As of June 27, the stock has a dividend yield of 2.56%.

According to Insider Monkey’s database of Q1 2023, 85 hedge funds owned stakes in Union Pacific Corporation (NYSE:UNP), up from 83 a quarter earlier. These stakes have a consolidated value of over $4 billion.

Matrix Asset Advisors mentioned Union Pacific Corporation (NYSE:UNP) in its Q1 2023 investor letter. Here is what the firm has to say:

“During the quarter we added a new position in Union Pacific Corporation (NYSE:UNP). Union Pacific (UNP) is the 2nd largest railroad network in the United States just behind Burlington Northern Santa Fe. The firm operates in the Western, Midwestern, and Southern portions of the United States. 90% of UNP sales come from the US and 10% from Mexico. Over the past decade, railroads gained market share from the trucking industry because it costs 10-40% less to ship via rails than trucks. The company has a long history of consistent operating growth and profitability. The shares fell from a high of $278 in May of 2022 after the firm experienced operating challenges due to a slower macro environment and higher expenses.”