Should You Consider Adding These Dividend Stocks To Your Watchlist?
As we tread through a volatile stock market, investors could be thinking of what stocks to buy. Amid the current headwinds in the market, dividend stocks could be worth watching today. For the uninitiated, companies that pay out dividends are often more established and have a track record of profitability. In addition, dividend-paying stocks also provide a way for investors to gain some returns during rocky market periods, especially when capital gains are hard to achieve.
A dividend stock investor could be taking note of right now is Lowe’s Companies (NYSE: LOW). Towards the end of last month, the home improvement retailer raised its dividend by 31.3%. The company now offers a quarterly dividend of $1.05 a share, up from $0.80. Lowe’s has paid a cash dividend every quarter since it went public in 1961. And on top of that, it has increased its dividend pay-out for more than 25 years consecutively. With that being said, here are four other dividend stocks to watch in the stock market today.
Dividend Stocks To Watch Today
- Eli Lilly and Company (NYSE: LLY)
- Keurig Dr Pepper Inc. (NASDAQ: KDP)
- TJX Companies Inc. (NYSE: TJX)
- Stanley Black & Decker Inc. (NYSE: SWK)
Eli Lilly and Company
Kicking off our list of dividend stocks today is Eli Lilly and Company (LLY). The company primarily engages in the discovery, development, manufacturing, marketing, and sales of pharmaceutical products across the world. For a sense of scale, the company has offices in 18 countries while its products are sold in approximately 125 countries. In brief, the company’s portfolio includes treatments for various diseases including diabetes, cancer, endocrine-related illnesses, and Covid-19 to name a few. LLY stock has climbed more than 35% over the past year. And last month, the company declared a quarterly dividend of $0.98.
On Sunday, LLY and Boehringer Ingelheim announced that their Jardiance (empagliflozin) drug was associated with a reduction in risk of hospitalization for heart failure in adults with Type 2 diabetes. According to Mohamed Eid, Boehringer Ingelheim’s head of clinical development and medical affairs, the findings suggest that empagliflozin has a well-understood safety and tolerability profile as well. As it stands, LLY and Boehringer Ingelheim have been working hard to establish their competitive footprint in the diabetes and cardiovascular treatment landscapes. Given this, should you add LLY stock to your watchlist?
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Keurig Dr. Pepper
Up next, we have Keurig Dr. Pepper or KDP for short. For the most part, it is a company that manufactures and distributes non-alcoholic beverages. KDP offers a diverse portfolio of flavored carbonated soft drinks, and non-carbonated beverages such as juices, water, and mixers. Some of its popular brands would include Dr. Pepper, 7UP, Crush, and many more. Additionally, the company also produces brewing systems under the brand name Keurig. On May 19, KDP declared a quarterly dividend of $0.1875 that is payable on July 15.
On Friday last week, the S&P Dow Jones Indices announced that KDP will become part of the S&P 500 index. This change will take effect on June 21 prior to the opening bell. Thus, index funds tracking the S&P 500 would be expected to purchase KDP stock. Apart from that, the company in late April posted its quarterly financials. Briefly, it brought in sales of $3.08 billion, up from $2.9 billion and exceeding the consensus estimate of $3.01 billion. Next to that, its net income came in at $585 million, up from $325 million last year. Accordingly, earnings per share were $0.41, increasing from $0.23 per share. All things considered, is KDP stock a buy?
TJX Companies
TJX Companies, otherwise known simply as TJX, is the parent company of T.J. Maxx, a discount department store chain. Throughout its portfolio, the company operates out of a total of 4,689 stores across nine countries. This includes the U.S., Canada, the U.K., and Australia among others. TJX stock has been under pressure over the past year. Nevertheless, the company recently increased its quarterly dividend payout by 13% to $0.295 per share. And according to the company’s CEO, Ernie Herrman, this marks TJX’s 25th dividend increase in the past 26 years.
Last month, the company posted its financial results for the first quarter of fiscal year 2023. TJX reported total net sales of $11.4 billion, up from $10.1 billion a year ago. This signals an increase of 13% year-over-year. As for its profits, TJX reported diluted earnings per share of $0.49. For comparison, the company brought in $0.44 last year. Along with that, net income for the first quarter was $587 million, up from $534 million in the same period last year. All in all, is TJX stock worth adding to your watchlist this week?
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Stanley Black & Decker
Last, but not least, we have Stanley Black & Decker (SWK). The company is a diversified global provider of hand tools, power tools, and outdoor products among others. It operates through three segments: Tools & Storage, Industrial, and Mechanical Access Solutions. And for a sense of scale, the company has over 60,000 employees and brings in $15 billion in annual revenue. In late April, SWK declared a quarterly dividend of $0.79, payable on June 21. In May, Tulip Interfaces announced that SWK has selected Tulip’s Frontline Operations Platform to provide digital manufacturing solutions to all its factories around the world.
For those unfamiliar, Tulip is a leading company in frontline operations. It helps companies of all sizes and industries to equip their frontline workforce to boost efficiency. Notably, SWK has been a Tulip customer since 2018. And since then, SWK has seen significant growth in its investment and expansion of its use of the platform across multiple sites. Natan Linder, CEO of Tulip, added, “This is a mutual investment in a long-term partnership between our two companies. The Stanley Black & Decker team is deeply committed to supporting their people. They are leaders in operational innovation, and I’m looking forward to seeing how they leverage Tulip to drive manufacturing excellence.” With that being said, is SWK stock worth keeping an eye on right now?
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