MFC - 3 Dividend Stocks to Buy for Decades of Passive Income
2024-07-12 06:58:00 ET
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Dividend stocks are reliable investments for the long term. It provides additional income in the form of typically quarterly distributions that will most likely grow as a business continues to scale, on top of share price appreciation from the underlying securities.
Dividends provide investors with a passive income stream. That can add up to substantial capital, particularly among those who continue investing until retirement.
Below are three dividend stocks offering decent dividend yields for their shareholders and considerable share price appreciation. This may enable these companies to continue increasing their distributions to investors in the future.
Manulife Financial (MFC)
Manulife Financial (NYSE: MFC ) offers financial products and services, such as individual life insurance, annuities, property and casualty insurance and investment portfolio management.
Over the past year, MFC shares have risen by nearly 50%, due partly to its continued earnings growth, especially in its wealth management segment.
On May 8, Manulife Financial reported earnings for the first quarter of 2024 , stating that core earnings rose by 16% and its global wealth management business’ total revenue increased by approximately 52% compared to the year before.
MFC offers a dividend ratio of 4.14% on an annual basis. It has provided dividend increases for investors for the last ten consecutive years. Its most recent quarterly distribution was for twenty-nine cents per share on June 19.
Manulife has experienced considerable growth over the last year. It is reporting strong potential in its asset management business and sales growth in Asia , which could lead to significant earnings growth in the future.
Seagate Technology (STX)
Seagate Technology (NASDAQ: STX ) is a data storage company that produces solid-state drives (SSDs), hard disk drives (HDDs) and related technology for large-scale data storage capabilities.
On April 23, Seagate Technology reported earnings for the fiscal third quarter of 2024 , stating that total revenue fell by 11%. In Q3 FY 2023, a net loss of 433 million was reported; for Q3 FY 2024, a net income of $25 million was reported.
STX provides a dividend yield of 2.62% on an annual basis. Its most recent quarterly distortion to investors was on July 5.
Seagate’s earnings are anticipated to rise in Q4 FY 2024, according to its Chief Financial Officer, who stated gross margins and net income growth are expected. This news has also been correlated with an increase in its share price.
Seagate Technology is a well-performing tech stock with a decent dividend yield. Investors are awaiting its full earnings release to understand its earnings growth.
NewLake Capital (NLCP)
NewLake Capital (OTC: NLCP ) is an industrial REIT that offers real estate, such as cultivation and dispensary facilities, for the regulated cannabis industry primarily through triple-net leases.
Over the past year, its share price has risen by 30% due to earnings growth, reinvestment in its facilities, and recent acquisitions.
On May 9, NewLake Capital reported earnings for the first quarter of 2024 , stating that total revenue increased by 10% and net income rose by 17%.
NLCP also provides a strong dividend yield of 8.94% for investors annually following a 5% increase in its dividend to forty-three cents per share, payable on July 15 as a quarterly distribution.
Back in April, the U.S. Drug Enforcement Administration announced that it reclassified marijuana as a Schedule III substance from Schedule I, which is more heavily regulated. With this change, the Chief Executive Officer of NLCP stated that the cannabis industry should be excited following this news.
NLCP offers a very strong dividend to its investors, and with anticipated growth within the cannabis industry, this stock should continue to garner investor attention.
As of this writing, Noah Bolton did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Noah has about a year of freelance writing experience. He’s worked with Investopedia dealing withtopics such as the stock market and financial news.
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