If you're a retiree looking for a way to boost your income and offset the impact of inflation, there are some quality dividend stocks you should consider putting your money into today. Bristol Myers Squibb (NYSE: BMY) , Cisco Systems (NASDAQ: CSCO) , and McDonald's (NYSE: MCD) all pay better yields than the S&P 500 average of 1.6%. Their businesses are also profitable, so they can make for ideal stocks to buy for risk-averse investors.
Bristol Myers is a top drugmaker that investors can count on for long-term growth and dividend income. In its most recent quarter , for the period ended June 30, the company reported revenue of $11.9 billion that rose 2% year over year. In the U.S. market, it achieved revenue growth of 12%.
The company's continued innovation makes it a promising investment. Earlier this year, the U.S. Food and Drug Administration approved a new cancer treatment for advanced melanoma (which involves Opdualag and top-selling medicine Opdivo) that could generate $4 billion in annual revenue for the company at its peak.
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3 High-Yielding Dividend Stocks That Are Ideal for Retirees