2 Supercharged Dividend Stocks to Buy Now

Investing in dividend stocks can provide a steady income stream and potential capital appreciation. However, not all dividend stocks are created equal. Some are "supercharged" with exceptional dividend growth and consistency, making them stand out in the market. This article highlights two such stocks: Nucor Corporation (NYSE: NUE) and Eaton Corporation (NYSE: ETN).

Nucor Corporation, a leading North American steelmaker, is a prime example of a supercharged dividend stock. With over five decades of annual dividend increases, Nucor has consistently rewarded its shareholders with growing income. The company's electric arc mini-mills allow it to ramp up and down production based on demand, supporting strong margins throughout the steel industry cycle. Currently, Nucor is well-positioned to benefit from the $1.4 trillion in announced projects in North America, each worth $1 billion or more, since the start of 2021. Most of these projects haven't even started yet, presenting a significant opportunity for Nucor to win contracts and generate strong demand for its products.

Eaton Corporation, another supercharged dividend stock, has a 15-year streak of annual dividend increases. Although it paused raises during a transformational acquisition, Eaton has since resumed its dividend growth trajectory. Eaton's global reach and massive product portfolio position it to benefit from the same $1.4 trillion in mega projects set to ramp up over the next few years. The company's backlog in its Americas division rose 29% year over year, with a strong book-to-bill ratio of 1.2 times, indicating that it is adding more to its backlog than it is working off. This trend is expected to power earnings and drive dividend growth for Eaton shareholders.

Both Nucor and Eaton have experienced recent stock price declines, but this presents an opportunity for long-term investors. Their strong earnings potential and dividend growth prospects make them attractive choices for those seeking supercharged dividend stocks. As the construction boom in North America continues, these companies are well-positioned to benefit and reward shareholders with growing income.

In conclusion, Nucor Corporation and Eaton Corporation are two supercharged dividend stocks that deserve consideration from income-oriented investors. Their exceptional dividend growth and consistency, combined with strong earnings potential, make them stand out in the market. As the North American construction boom continues, these companies are well-positioned to benefit and reward shareholders with growing income.