You can reduce your operating costs.
I made a decision not to use an Unilever example again and instead went to the stock market. Canadian Utilities (TSX:CU) has a yield of 5.3% and has found a way to increase its dividends for 48 years in a row. When their shares are down, they offer an excellent value to a long-term investor.
Canadian Utilities are a resilient business which means they are immune to either slow global economic activity or any pandemic. With 95% of their earnings coming from rate-regulated utility assets, cash flows and payouts are very safe.
That means there is consistent growth (from the regulated rate base) and they have found that putting together a plan to implement cost effeciencies (as well as adding more consistent revenue such as storing hydrocarbon) the company will continue to earn, create cash flow and payout dividends.
