BMY - Is Bristol Myers' Dividend in Danger?
2024-05-11 07:29:00 ET
Bristol Myers Squibb (NYSE: BMY) pays investors an attractive dividend, which yields an incredibly high rate of 5.5%. That's nearly four times the S&P 500 average of 1.4%. At such a high rate, investing approximately $18,200 would be enough to generate $1,000 in annual dividends from the stock.
However, as is the case with many high-yielding stocks, Bristol Myers' dividend comes with some risk. The company's growth has been a concern for investors, and recently, its financials haven't been all that great. Below, I'll look at the dividend's safety and whether investors can rely on it.
On April 25, Bristol Myers reported its most recent quarterly numbers. While its top line was decent -- the healthcare company's revenue grew by 5% year over year to $11.9 billion -- the bottom line was problematic.
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Is Bristol Myers' Dividend in Danger?