Author: Brad Thomas, Wide Moat Research

It’s one of the key holdings in the portfolio of my premium service, the Intelligent Income Investor… and right now, shares trade at less than16X adjusted funds from operations (which is considerably lower than its long-term average of 19x).

At the end of the day, its strong brand and efficient business helps the company perform well both in good times and bad.

They offer unparalleled cash flows, have fortress balance sheets, and generously reward their investors with shareholder returns.

They beat the market each year, and they do it with 12% lower volatility (meaning their share prices don’t bounce around as much).

… and they’ve faithfully continued to reward shareholders with increasing dividends through it all.