In the realm of investing, a dividend is a payment made by a corporation to its shareholders, typically in the form of cash or additional shares of stock. This distribution, often derived from the company’s earnings, serves as a reward for investors who hold the company’s stock. Dividends provide a steady stream of income, making them a highly sought-after feature for many investors, especially those seeking consistent returns or looking to balance their portfolios.
Dividend stocks are shares of companies that regularly distribute dividends to their shareholders. These stocks appeal to investors who prioritize consistent income generation alongside potential capital gains. Dividend-paying companies are usually well-established, financially stable, and have a proven track record of profitability, making them a popular choice among investors seeking lower-risk investments with a focus on long-term growth and stability. With that said, let’s dive into two dividend stocks to watch in the stock market today.
Dividend Stocks To Buy [Or Avoid] In April 2023
3M Company (MMM Stock)
To start, 3M Company (MMM) is a multinational conglomerate that produces a wide range of products across various sectors, such as healthcare, electronics, transportation, and consumer goods. The company is well-known for its innovation, consistently developing new products and technologies. Currently, MMM has an annual dividend yield of 5.87%.
At the end of January, 3M reported its 4th quarter 2022 earnings results. In the quarter, the company posted earnings of $2.28 per share, along with revenue of $8.1 billion for Q4 2022. Meanwhile, analysts’ consensus estimates were earnings of $2.34 per share and revenue of $8.1 billion. In addition, 3M also said that it estimates 2023 earnings to be in the range of $8.50 to $9.00 per share, with revenue estimates in the range of $32.15 billion to $33.52 billion.
Over the last month of trading action, shares of MMM stock have fallen by 6.95%. While as of Wednesday’s closing bell, MMM stock is trading at $102.29 per share.
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Chevron (CVX Stock)
Next, Chevron Corporation (CVX) is a multinational energy corporation. The company engages in exploring, producing, and refining oil and natural gas, with operations worldwide. The company is one of the largest integrated oil and gas companies globally. Today, CVX offers its shareholders an annual dividend yield of 3.56%.
Earlier this week, Chevron reported the date it will release its Q1 2023 financial results. In detail, the company will report its Q1 2023 financial results on Friday, April 28, 2023, at 11:00 am EST. To briefly recap, in Q4 2022, Chevron notched in earnings of $4.09 per share, and revenue of $56.5 billion.
In the last month of trading action, CVX stock has increased by 2.23%. Meanwhile, as of Wednesday’s closing bell shares of CVX closed the day at $169.88 a share.
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