UPS - 2 Top Dividend Stocks I Can't Wait to Buy in October
2023-10-04 08:00:00 ET
United Parcel Service (NYSE: UPS) and Texas Pacific Land (NYSE: TPL) have moved in dramatically different directions over the last three months, with the former down 10% and the latter rising a blistering 41%. While UPS would be hard-pressed to have more things working against it, Texas Pacific continues to generate near-record free cash flow (FCF) , with rising oil prices set to potentially increase these figures.
Despite this divergence in recent share price performance and short-term business outlook, I cannot wait to add to these dividend growth stocks in October. Whether it is UPS' 4.1% dividend or Texas Pacific's nearly annual special dividends, these two businesses could set me up for a lifetime of rising passive income potential.
Avoiding a massive potential strike in July, United Parcel Service and the International Brotherhood of Teamsters reached a five-year deal that covered over 330,000 of its employees. While it's not unreasonable to think UPS' contract settlement could be a temporary headwind for the stock, I'll never fault a company for paying its employees better -- particularly when it's not egregious stock-based compensation for executives.
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2 Top Dividend Stocks I Can't Wait to Buy in October