Author: Brian Bollinger, Simply Safe Dividends

The company’s dividend yield sits just above 5%, its highest level in nearly 30 years. And its dividend continues to look secure thanks to its strong balance sheet. But the company’s high spending on growth projects, coupled with today’s challenging energy market, will likely put more pressure on the firm’s cash flow in the short to medium term.

There’s reason to believe that better times are ahead for this bank, and its CEO seems like the right leader for the job. With the company remaining in great financial shape and paying a safe 4% dividend yield, we are content continuing to give its turnaround more time.

For dividend investors seeking a secure income investment with decent long-term growth prospects, it may be an interesting industrials candidate as part of a well-diversified dividend portfolio.

I prefer to invest my money elsewhere.

The company’s core business model remains highly recession resistant, and its free cash flow is usually very stable.