Finding a great dividend stock can be difficult for even the savviest investors. So when you come across a stock like ExxonMobil (NYSE:XOM), it's good to take note.
While Exxon's profitability and stability are certainly contributing factors to its status, there are three reasons in particular that make the stock great for income-seeking investors. First, it yields 2.5%, compared to the S&P 500's 1.98%. Second, Exxon currently distributes an extremely reasonable 33% of earnings, leaving plenty of room to increase its dividend if the board of directors chooses to do so. And last but not least, the energy giant has both paid and increased its dividend consistently for 31 years.
As Motley Fool contributor John Maxfield discusses in the video below, the net result of these impressive facts is that Exxon is indeed a great dividend stock for income-seeking investors to buy and own today.