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NEW YORK ( TheStreet) -- Should investors be worried that defensive stocks like General Mills (GIS) are seeing huge gains? Jim Cramer told Debra Borchardt at TheStreet.com Wednesday that he's not worried, because investors are simply looking for one thing.. yield.
Cramer explained that companies like General Mills have raised their dividends multiple times, almost doubling it over the past five years. Add to that the company's terrific track record, great management and solid balance sheet and it's no wonder investors are clamoring for shares.
Cramer reminded viewers that taxes on dividends didn't go up as many expected with the fiscal cliff, which makes dividends even more attractive at a time when Treasuries pay next to nothing.To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here. -- Written by Scott Rutt in Washington. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC