Profiting From Sustainable Dividend Stocks
Peter Andersen of Congress Asset Management told CNBC, "There’s a lot out there that’s very attractive from sustainable dividends. He shared a few strategies to boost investors' portfolios before the weekend.
"However, you have to make certain that they're sustainable," he warned.
Andersen also said some consumer product stocks provide attractive dividends.
"A lot of consumer products companies look like they’re offering sustainable dividends in a very attractively price at this point in the market," he said.
Hornbeck Offshore —Andersen said this oil-services company provides the “lifeblood of the offshore oil rigs” and that it is at "a very attractive value."
Portfolio Recovery —"As the economy improves, you'd think a company like Portfolio Recovery, which buys distressed consumer debt, would actually start to falter. But the opposite is true. As the economy slightly gets stronger, the debt collecting ability of the company is greater because it’s going after defaulted credit card accounts [and] presumably...these defaulted customers will have more paying abilities."
He also likes Valmont Industries .
For sustainable dividend plays, Andersen likes DiageoPhilip Morris International.
Disclosure information was not available for Peter Andersen.