Four Dividend Stocks With Flat Payouts But Still Well-Covered

Four companies have held their dividend payouts flat for years, but an examination of their cash flow reveals that they are still well-covered. AT&T (NYSE:T), Kraft Heinz (NASDAQ:KHC), Dow Inc. (NYSE:DOW), and Hasbro (NASDAQ:HAS) are the four companies in question.

AT&T's dividend has been stuck at $0.2775 per share since 2022, but its free cash flow came in at $4.7 billion in the second quarter, above management's guidance range of $4 to $4.5 billion. The company plans to invest heavily in fiber and spectrum deals, which will be funded by buybacks and dividends.

Kraft Heinz has paid out $0.40 per share for several years, but it has been using its free cash flow to pay down debt and reinvest in its brands. The company's adjusted EPS guidance was raised to $2.03 to $2.09, while its annual dividend of $1.60 is well-covered.

Dow Inc.'s dividend has been cut from $0.70 to $0.35 per share, but it has since held steady. The company has made debt reduction a priority and plans to deliver more than $1.3 billion in self-help benefits this year.

Hasbro's last raise took the quarterly dividend from $0.68 to $0.70 with the 2022-04-29 ex-date, but every payment since then has been at that level. The company has held the payout flat through a restructuring and debt paydown.