Share prices of consumer staples giant Clorox (NYSE: CLX) are hovering around a three-year low after the company reported worse-than-expected quarterly results and slashed guidance earlier this month. A silver lining of the Clorox stock sell-off is that its dividend yield is now 3.3%, which is the highest it has been in seven years.
Clorox stock could keep falling in the short term. But there are reasons why it could be a good passive income stream for long-term investors.
Image source: Getty Images.
For further details see:
Want $1,000 in Passive Income? Invest $10,000 in This Dividend Aristocrat and Wait 3 Years