XOM - 3 High-Yielding Dividend Stocks That Are Trading at Dirt-Cheap Valuations
2024-04-20 05:23:00 ET
What's better than a high-yielding dividend stock? A high-yielding dividend stock that's trading at a dirt-cheap price. As long as the underlying business is in strong shape, buying a cheap dividend stock can help maximize your long-term profits as you benefit from both the stock rising in value, assuming it rallies, and from the dividend income you'll earn from holding it.
Bristol Myers Squibb (NYSE: BMY) , Verizon Communications (NYSE: VZ) , and ExxonMobil (NYSE: XOM) are not only cheap, but they pay you more than double the S&P 500 average of 1.4%. Here's why these dividend stocks are worth buying right now.
Shares of Bristol Myers Squibb have been under pressure over the past 12 months, falling by 30%. Although this is a top healthcare company to invest in with a market cap of around $100 billion, investors are concerned for multiple reasons. The first is its high debt load of more than $40 billion, which makes the stock unattractive, particularly as interest rates are high. Secondly, there's also the concern of what lays down the road for Bristol Myers, which has multiple top-selling drugs losing patent protection in the years ahead.
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3 High-Yielding Dividend Stocks That Are Trading at Dirt-Cheap Valuations