Compass Minerals (CMP): 12 Consecutive Years of Dividend Growth, 3.6% Yield, and Recession-Resistant Demand

Compass Minerals (CMP) has increased its dividend every year since going public in 2003 and boasts an operating history dating back to 1844. Its businesses are simple to understand, largely uncorrelated with the economy, and meaningfully advantaged by a unique set of assets that is, in many cases, practically impossible to replicate.

The stock also has an attractive dividend yield of 3.6%, a 10% historical dividend growth rate, a reasonable earnings multiple (14x), and meaningful free cash flow growth potential over the next five years.

Temporary macro headwinds (the mild winter weather in the Midwest and weak agricultural markets) are impacting the business at the moment. In fact, CMP issued a press...