The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has risen for a seventh consecutive session today, led by some of the nation's most popular dividend stocks amidst expectations of another interest rate cut next week.
Telstra Corporation Ltd (ASX: TLS) has continued its record-breaking run, rising 1.4% to a new 14-year high of $6.56 just five weeks after the stock managed to breach the $6 mark for the first time in 13 years. At this rate, the stock will hit stockbroker Charlie Aitken's $7 price target in no time – especially if it announces an increase to its interim dividend (currently 14.5 cents per share, fully franked) when it reports next month.
Another stock hitting record highs today is Commonwealth Bank of Australia (ASX: CBA). Despite its lofty valuation, investors continue to target its compelling dividend yield and have today pushed the stock across the $90 mark for the first time in history.
It goes to show, there's nothing keeping a solid dividend stock down in a low interest rate environment.
An even better bet than Telstra in 2015
