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Growth names soared during the pandemic and then handed the ball recently to cyclical bets on an economic recovery. But a forgotten class of stocks could come back in favor next year as corporate balance sheets are repaired: dividend stocks.

Payouts are already starting to pick up. After a year where dividend cuts and suspensions were common in corporate America, there were 29 dividend increases and one initiation in November, compared with one cut and no suspensions, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

That pattern is set to continue in 2021. Silverblatt said in a note to clients that the amount paid out in dividends next year could surpass 2019, before companies were even thinking about the pandemic.

Correction: The report was for 2021. An earlier version had the wrong year.

Originally published at CNBC

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