(GE's dividend increase announcement added in this update)BOSTON ( TheStreet) -- Investors have been told to seek the safety of boring U.S. stocks with predictable businesses and attractive dividends to protect their money from Europe's debt meltdown and slowing U.S. economic growth. That strategy isn't bulletproof. DuPont ( DD), the U.S. chemical maker that's a member of the Dow Jones Industrial Average, saw its shares plummet as much as 7% today after the company cut its full-year profit forecast.
Siemens AG ( SI) Company Profile: Based in Germany, Siemens AG is a global conglomerate with operations in energy, healthcare, transportation and industrials. Key Statistics: 4.1% dividend yield, forward P/E of 8.6, one-year revenue growth of 6.6% Consider in Place of: General Electric ( GE), Emerson Electric ( EMR), Honeywell ( HON), United Technologies ( UTX) Curtis' Take: Curtis says that Siemens is a lot like GE but without the financial services, a unit that gave GE a major headache during the 2008 financial collapse. While the company is based in Germany, Siemens is truly a global business, he says. "It's listed in Europe, but 50% of its sales are derived from outside of Europe," Curtis says. "They're big in turbines, which is a growth area. It has a strong balance sheet, which is a comfort to me. It is a cyclical stock and a bellwether industrial company. It's dividend growth was very strong last year, so going forward it will be more regular growth." Curtis adds that the company pays a dividend annually and is set to go ex-dividend in January, which makes the stock an attractive opportunity now. Siemens AG's yield of 4.1% overshadows a 4% yield for GE. On Friday, GE announced an increase of dividend, which pushed the yield from 3.7% to 4%. Siemens AG's yield also beat the 2.6% yield for United Technologies and 2.8% for Honeywell, both large U.S. industrial giants. Curtis says his fund owns shares issued in Germany, but notes that U.S. investors are able to buy American Depositary Receipts.
Royal Dutch Shell ( RDS.A) Key Statistics: 4.8% dividend yield, trailing P/E of 7.1, one-year revenue growth of 32% Consider in Place of: Exxon Mobil ( XOM), Chevron ( CVX), ConocoPhillips ( COP) Curtis' Take: Curtis notes that Royal Dutch is the second biggest oil company in the world only to Exxon, and it's even ahead of Exxon in terms of the gas business. Royal Dutch Shell doesn't get the same attention from dividend investors that Exxon or Chevron do, but that's likely because Royal Dutch hasn't grown their dividend in the last year. That may be about to change, Curtis says. "They've been investing in recent years in technologically difficult long-life assets, like liquid natural gas in Qatar and Canadian oilsands. These are major projects with long lives," Curtis says. "They haven't grown the dividend for the last year since they've been spending on capex, but they haven't cut the dividend since World War II. These are just coming into production, so there will be a big boost to operating cash flow going forward. With the projects coming on stream, the dividend could start growing again within the next year." Royal Dutch Shell, which trades on U.S. stock exchanges, has a dividend yield (4.8%) that is more than double Exxon Mobil (2.3%) and is also higher than Chevron (3.2%) and ConocoPhillips (3.7%).