Dividend paying utilities and infrastructure stocks are back in the spotlight as AI related capital spending, softer jobs data and steady services activity reshape expectations for rates and long term power demand. Renewed AI momentum, a US$750b AI infrastructure budget from major hyperscalers for 2026 and continued services expansion are steering more attention toward companies that combine income potential with balance sheet resilience. This article walks through 3 stocks from our Dividend Paying Utilities and Infrastructure screener that appear relatively well positioned, based on their exposure to these news catalysts and their history of more stable dividends.

Emerson Electric (EMR)

Overview: Emerson Electric is a global technology and software company that helps utilities, industrials, and infrastructure operators run plants, grids, and facilities more safely and efficiently by providing advanced control systems, sensors, valves, test equipment, and automation software across multiple sectors.

Operations: Emerson generates most of its revenue from Intelligent Devices such as sensors at US$4.2b, Safety & Productivity solutions at US$1.4b, and Software and System Test & Measurement at US$1.6b.

Market Cap: US$79.3b

Investors watching AI powered data center build outs and grid upgrades may find Emerson Electric relevant, as it provides the valves, sensors, control software, and test systems that utilities and industrial customers use to meet higher power and reliability demands. The company combines a long history of dividend payments with earnings described as high quality, expanding profit margins, and a growing backlog tied to power, LNG, and life sciences projects, while also focusing on industrial AI through tools like Nigel AI and AspenTech’s grid software. At the same time, high debt, insider selling, and exposure to cyclical capital spending and complex software integration highlight that execution and balance sheet discipline remain important considerations.

Emerson Electric’s push into industrial AI and grid software is gaining attention, but the real story lies in how its cash flows, margins and capital spending risks line up in the analysis report for Emerson Electric

AECOM (ACM)

Overview: AECOM is a global infrastructure consulting company that helps governments and businesses plan, design, manage, and deliver large projects across transportation, water, energy, environmental, and social infrastructure, as well as select real estate developments.

Operations: AECOM generates most of its revenue from the Americas segment at about US$12.4b, with a further US$3.6b from its International segment.

Market Cap: US$8.9b

AECOM gives investors direct exposure to AI driven data center build outs, climate resilience projects, and government backed infrastructure, while paying a regular dividend and building a record backlog of higher margin consulting work. The company is winning work with major hyperscalers and governments on power, water, and security related projects, and is rolling out its own AI tools on client engagements to improve efficiency and win complex contracts. At the same time, high reliance on public funding, meaningful debt, and long duration project risk mean cash flow timing and execution quality matter. For a dividend focused portfolio looking at AI infrastructure and essential services, that balance of opportunity and risk in AECOM is a key factor to consider.

AECOM’s AI fueled infrastructure backlog is becoming more central to the story, but the real tension is how that opportunity aligns with the long dated project risks in the analysis report for AECOM

Carrier Global (CARR)

Overview: Carrier Global is a large HVAC and refrigeration company that provides heating, cooling, ventilation, and energy management systems for homes, commercial buildings, and transport fleets worldwide, along with ongoing maintenance and digital monitoring services.

Operations: Carrier Global generates its revenue primarily from Climate Solutions Americas at US$10.4b, followed by Climate Solutions Europe at US$5.2b, Climate Solutions Asia Pacific, Middle East & Africa at US$3.3b, and Climate Solutions Transportation at US$3.0b.

Market Cap: US$58.2b

Carrier Global sits at the intersection of AI data center expansion and the long term need for efficient climate solutions, as hyperscalers invest heavily in cooling to handle much higher chip heat loads while governments and customers push for lower emissions. The company is tying this to its own AI enabled platforms such as Abound and Lynx, which use sensor data to anticipate failures and improve energy efficiency, and it is integrating acquisitions such as Viessmann to widen its product and service reach. At the same time, investors need to weigh debt coverage, reliance on higher risk funding, and regions where demand has softened. The mix of AI driven cooling demand, dividend income, and these funding and execution questions is a key part of the Carrier Global story.

Carrier Global’s AI-cooled data center opportunity is accelerating, but the real question is how that story fits with its funding, debt coverage, and regional demand swings in the analysis report for Carrier Global

The three dividend paying utilities and infrastructure stocks here are just a starting point, with the full Dividend-Paying Utilities and Infrastructure screener surfacing 50 more companies that combine income potential, financial resilience, and exposure to similar themes. Use Simply Wall St to identify and analyze the specific catalysts, dividend histories, and business narratives that matter most to you so you can focus on the ideas with the highest conviction for your watchlist.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.