Moody's Corporation

Moody's is one of the two dominant global credit rating agencies, and it has expanded into analytics, risk assessment and financial data services. The ratings business operates as an effective duopoly with high barriers to entry, since debt issuers need ratings to access capital markets, giving Moody's exceptional pricing power and margins. Moody's has raised its dividend for roughly three decades, backed by highly profitable, recurring revenue. The yield is low because the stock commands a premium valuation and much capital goes to buybacks, but the payout grows steadily and is comfortably covered. It offers a quality dividend growth profile where the appeal lies in reliability and compounding rather than current yield.