High-dividend-paying stocks can provide some relief in this low-interest-rate environment, the CEO of Carson Wealth Management Group told CNBC Monday.
"We think dividend yields are a great sign of financial health and so you want to make sure [companies] can not only afford to pay the dividend but is there an ever-increasing dividend stream," Ron Carson said.
Carson oversees $3.2 billion in client assets.
Look at ConocoPhillips , Carson said: Not only did itrecently announce an increase to the dividend but the company is going to purchase shares. COP has a yield of 3.5 percent.
"We prefer to own things in the world that the world needs versus what they want. ConocoPhillips squarely fits in this," he added. "So this is a play on oil and then also...clean energy. They're the second-largest natural gas play in the US."
Abbott Labs yields 3.7 percent. Its products include prescription drugs, coronary and carotid stents, nutritional liquids for infants and adults and recent eye-care products acquisitions.
"Abbott Labs is not only undervalued, but the dividend is safe" and Carson expects "to see an increased in the dividend in future years."
He added, "We're living in an aging population. Yeah, there's Obamacare out there. We think a lot of that is already factored into this stock. I think that's why it's selling at a discount to its intrinsic value. [Abbott Labs] not only are the stalwart of the industry, but [it is] also very diversified."
Lastly, Exelon, the largest operator of nuclear power plants in the U.S.,has an almost 5 percent yield. It takes about seven years to build a nuclear power plant, along with billions of dollars and the ability to handle any community opposition. This gives Exelon a sustainable competitive advantage, which could last for years, he said.
"The stock is undervalued. You get paid to wait," Carson concluded.
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