3 Strong Dividend Stocks to Buy Today
This email is from Ian Cooper for Behind the Markets
Economic uncertainties, sinking consumer confidence, nearing presidential elections, dovish comments from the Federal Reserve, Bank of China stimulus, and explosive tension in the Middle East have all made markets a bit more volatile.
And while it may take some time for it to all blow over, you can keep your portfolio safe with healthy, dividend-paying stocks.
Dividend-paying stocks provide a way for investors to get paid during rocky market periods, when capital gains are hard to achieve.
They may provide some hedge against inflation, especially when they grow over time.
Here are 3 Strong Dividend Stocks to Buy Today:
T-Mobile (SYM: TMUS)
Just days ago, T-Mobile (SYM: TMUS) raised its dividend by 35%, which now brings its yield to 1.74%.
According to the company, it will now pay out a cash dividend of 88 cents on December 12 to shareholders of record as of November 27.
Even better, the company just said it’s selling the iPhone 16 at a greater rate than last year’s model. “The first week was better than last year,” CEO Mike Sievert said, as quoted by CNBC. “Not only good, but better than last year, and people are buying Pros, they’re buying Maxs, so they’re buying up the food chain, and they’re buying at a greater rate than last year.”
In addition, the company, which expects to see adjusted free cash flow of between $18 billion and $19 billion in 2027, says it plans to return up to $50 billion to shareholders in 2027 with share buybacks and dividend payouts.
Altria (SYM: MO)
Altria (SYM: MO) just raised its dividend by 4.1% to $1.02 per share, payable October 10 to shareholders of record as of September 16. This marks the company’s 59th consecutive year of increasing its dividend over the last 55 years. The raise also brings Altria’s yield to just under 8% at the moment.
Analysts at Barclays also just raised their price target on the stock to $43 from $37. The firm noted that, “Tobacco stocks had a strong Q2 as market multiples are set not on what is happening now, but on what could happen in the terminal year,” as quoted by TheFly.com.
Dover Corp. (SYM: DOV)
Dover (SYM: DOV) also just raised its dividend to 52 cents a share, which was payable on September 16 to shareholders of record as of August 30.
Recent earnings have been just as impressive.
In its second quarter, the company’s EPS of $2.36 beat estimates by 15 cents. Revenue of $2.18 billion, up 3.8% year over year, beat by $30 million. “In 2024, Dover expects to generate GAAP EPS in the range of $10.80 to $10.95 (adjusted EPS of $9.05 to $9.20), based on full-year revenue growth of 3% to 4% (2% to 3% on an organic basis). Full-year 2024 guidance includes the Environmental Solutions Group business unit,” added the company in its earnings release.
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