In a COVID-19 business environment that is fraught with uncertainty, it is especially important to focus on acquiring shares of high-quality dividend paying stocks that are trading at or below fair value.

Within the confines of high-quality dividend stocks, one can look no further than Hershey (HSY), which has been in business since 1894 and has paid uninterrupted dividends for longer than most of us have been alive.

As I will discuss below for the first time since I initiated coverage in Hershey last July, Hershey boasts a well-covered dividend that has the potential to grow in the range of 7-8% annually over the long-term, Hershey delivered fair operating results for Q2 of this fiscal year and maintains firmly investment-grade credit ratings from the major ratings agencies, and lastly, shares of Hershey are currently trading near my estimate of fair value.

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