Molson Coors Beverage Company

Molson Coors is one of the world's largest brewers, home to brands such as Coors, Miller, Blue Moon and Molson, with a strong presence in North America and select international markets. The company operates in a mature, slowly declining beer market and is working to premiumize its portfolio and expand into hard seltzers and non-alcoholic options to offset volume pressure. Molson Coors has a long dividend history, though it cut its payout in the past before rebuilding it, and now offers a solid yield backed by steady, if unexciting, cash flow. The distribution is well covered and the yield relatively attractive, making it a reasonable income holding, tempered by the structural challenges facing traditional beer volumes.