Veolia Environment (NYSE:VE) is a French utility giant which owns the worlds largest water business in terms of revenue. In the last 5 years Veolia has grown too aggressively and drowned in debt during the recession. Analysts think that improvements to the balance sheet and investments to growth areas could drive 80% growth in income next year and 16% growth in each of the next 5 years. Shares are modestly valued at just 75% of book value and the company seems to be very committed to protecting its 10.7% annual dividends. The cash flow of this company has enough to cover the dividend more than 5 times over. This is a safe high dividend stock that I would think about purchasing.
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