2019’s stock market rally has been incredible, contributing to strong portfolio growth across all major sectors. While stock price growth (and subsequent trading) is a great way to make money on the market, dividends are the better focus for investors who want stable income.
The following are three of the best dividend stocks available on the market this month.
Johnson & Johnson (NYSE: JNJ)
A company that likely needs no introduction to the average consumer and investor, Johnson & Johnson is one of the largest personal care, pharmaceutical, and medical device companies in the world.
Stock growth has been mild this year, with price increasing 6.95% since January. Despite underperforming its sector and the market, Johnson & Johnson comes with a compelling dividend of $0.90, making for a 2.61% yield at today’s prices.
For income minded investors, this is a stable company with a long history of strong fiscal management. Over five years, stock has provided a total return of 61%. For investors who want a growing stock as well as a regular dividend, this is one of the best on the market today.
Abbott Laboratories dividends (NYSE: ABT)
Abbott is a diversified health care product manufacturer with operations in pharmaceuticals, diagnostic products, cardiovascular health products, and nutritional products. The company has a large market capitalization of over $136 billion and is a popular dividend stock.
Abbot laboratories has created a 134% return for shareholders when looking at the stock over five years. Abbot has only a moderate yield of 1.68%, but it has consistently increased its dividend since 2013. The dividend hikes are likely to continue as revenue grows. In the 2018 fiscal year, sales revenue increased 11.64%, the second-best period of growth in the last five years.
CVS Health Corp. (NYSE: CVS)
As one of the most well-known pharmacy and health care providers in the United States, CVS Health Corp. is a popular investment. Stock is down -19.08% year to date, which has led to some analysts calling this stock “too cheap to ignore”.
CVS might not look like the perfect investment as far as stock price goes, but its high dividend yield of 3.71% is well above the market average and could be a good way to expand a portfolio. CVS has generated strong revenue growth for the last five fiscal years, and profits were up 10.55% in the 2018 fiscal year. This could protect the dividend for months to come, even if stock is underperforming in the meantime.
As with every investment decision, due diligence through research is always recommended. Both stock prices and dividends can fluctuate, and historical performance is never a guarantee of future success.
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