BEP - 3 Top Dividend Stocks to Buy Now That Are Down 23% to 27%
This year has been a really challenging one for investors. The stock market is down significantly due to concerns that we could be heading toward a recession. A downturn could force many companies to reduce their cash outflows, including dividend payments to shareholders.
Even top-notch dividend stocks like Dominion Energy (NYSE: D) , Brookfield Renewable Partners (NYSE: BEP) , and Brookfield Infrastructure Partners (NYSE: BIP) haven't been immune to the sell-off, as all three tumbled more than 20% this year. However, a few Fool.com contributors see opportunities amid their declines. Here's why they think these top dividend stocks look like great buys right now.
Reuben Gregg Brewer (Dominion Energy): Dominion Energy made a drastic shift in its business when it sold most of its midstream pipeline business to Berkshire Hathaway in 2020. It was a material division, so the company also cut the dividend. However, it announced that it would quickly return to regular dividend growth, which it did with a dividend increase at the start of 2022.
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3 Top Dividend Stocks to Buy Now That Are Down 23% to 27%