JNJ - 2 Top Stocks to Buy Now for Years of Passive Income
2024-06-22 04:45:00 ET
When you invest for the long term, a good strategy is to add stocks from various industries with different growth qualities that complement each other. Dividend stocks generate one type of growth and can be a fantastic way to maximize your returns. They perform differently from growth stocks in varying market environments while providing some passive income to reinvest or use as you wish.
If you're on the hunt for great dividend stocks to buy and hold for five to 10 years or more, you don't have to look far. Here are two names to consider the next time you go shopping for dividend stocks.
Johnson & Johnson (NYSE: JNJ) is a long-standing member of an elite group of stocks that have been paying and raising dividends every year for decades. This pharmaceutical giant has paid (and raised) its dividend every year for 62 years consecutively. Its most recent dividend increase was 4.2% and pushed the per-share quarterly dividend to $1.24 per share. Given its share price, Johnson & Johnson's dividend yields around 3.4%. That's more than double the yield of the average stock (approximately 1.4%) trading on the S&P 500 .
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2 Top Stocks to Buy Now for Years of Passive Income