I own MO, PM and KFT. The latter two due to spin offs from MO. I orginally bought Philip Morris in the early 80s when I quit smoking. Electric utilities are, IMHO, one of the safest dividend paying stocks. They can always just raise the rates if they need more money. Electric utilities are a good long term investment if you do not plan to sell and will be satisfied with a 5% dividend. Higher inflation can easily spoil that party if bond rates climb above that 5%.
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