As the stock market recovers from a rough week of trading, some investors may be looking towards more defensive stocks now. In this case, dividend stocks would be among the viable plays now. Why? Simply put, this group of stocks can provide investors with recurring income in the form of dividends. Sure, they may not see massive gains like high volatility stocks today. But, some would argue that dividends provide a safe haven for investors amidst volatile times. This would especially be the case as the red-hot crypto market recently received a massive regulatory blow in China.
Now, when it comes to dividend investing, there are numerous factors to consider. For the most part, investors would tend to look at dividend stocks that provide higher dividend yields. This would usually be where big industry leads such as Merck & Co (NYSE: MRK) and Universal (NYSE: UVV) come into play. Alternatively, more adventurous investors would prefer betting on high-growth companies who also dish out dividends, albeit at lower rates. In this respect, you have tech giants like Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) in the stock market today.
By and large, there is no shortage of variety among dividend stocks in the current market. Likewise, there could also be many reasons for investors to consider adding some of the best dividend stocks to their portfolios. Whether it is for the sake of diversification or more consistent returns, dividend stocks have plenty to offer. Having read all of this, you might be keen on this group of stocks. If so, here are three dividend-paying stocks in the spotlight now.Top Dividend Stocks To Buy [Or Avoid] Now
- AbbVie Inc. (NYSE: ABBV)
- Brookfield Renewable Partners (NYSE: BEP)
- Exxon Mobil Corporation (NYSE: XOM)
AbbVie is a health care company that delivers innovative medicines. Its key therapeutic areas include immunology, oncology, neuroscience, and virology among others. In essence, the company combines advanced science and expertise to solve the world’s most serious health issues. ABBV stock has been up by over 30% since November.
Last week, the company announced a quarterly cash dividend of $1.30 per share. The cash dividend will be payable on August 16, 2021, to stockholders of record at the close of business on July 15, 2021. Since the company’s inception in 2013, AbbVie has increased its dividend by 225%. It has also announced that it has submitted applications to the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA), seeking approval for Skyrizi, for the treatment of adults with active psoriatic arthritis.
In late April, the company also reported its first-quarter financials. In it, AbbVie posted worldwide GAAP net revenues of $13.01 billion, an increase of 51% on a reported basis. A chunk of this net revenue came from its immunology portfolio, at $5.74 billion, an increase of 12.9% year-over-year. The company also posted diluted earnings per share of $1.99 on a GAAP basis. Given the impressive financials, the company is off to an excellent start this year and continues to enjoy strong performance across its core therapeutic areas. AbbVie also says that its first-quarter revenue and earnings results are ahead of its expectations. With that in mind, will you consider adding ABBV stock to your portfolio?Brookfield Renewable Partners LP
Brookfield is a dividend stock that operates one of the world’s largest publicly traded renewable power platforms. Impressively, its portfolio consists of approximately 21,000 MW of capacity and nearly 6,000 generating facilities across the globe. Its investment objectives are to deliver long-term annualized total returns of 12% to 15%. BEP stock has been up by over 40% in the last year.
In May, the company reported stellar first-quarter financials. Impressively, its long-term average generation for the quarter was 14,099 GWh. It also generated funds from operation (FFO) of $242 million, a 21% increase on a normalized per unit basis year-over-year. IT also signed 29 agreements for approximately 2,300 GWh of renewable generation with corporate off-takers across all major industries. This includes many of the largest counterparties by market capitalization in the world. The company also declared a dividend of $0.30375 per share, which will be payable on June 30, 2021.
Connor Teskey, CEO of Brookfield Renewable had this to say, “The tailwinds for renewables are accelerating as governments and businesses around the world are intensifying their focus on decarbonization. Given our global scale, operational depth, and financial strength, we remain uniquely positioned to participate in the accelerating build-out of renewables that will impact all sectors of the economy.” Given these impressive financials, will you consider BEP stock a top dividend stock to buy?
Read MoreExxon Mobil Corporation
Another dividend-paying company to consider now would be Exxon Mobil (XOM). In brief, the Texas-based company primarily operates in the oil and gas industry. In terms of scale, XOM is one of the largest publicly traded international energy companies in the industry. According to the company, it also boasts an industry-leading portfolio. The likes of which make it one of the largest refiners and marketers of petroleum and chemical products globally.
If anything, as demand for its products, rises amidst the economy reopening, investors could be eyeing XOM stock now. Evidently, XOM stock is currently sitting on gains of over 50% year-to-date. While all this is great news for XOM, the company does not seem to be slowing down anytime soon. Earlier this month, XOM announced the discovery of yet another high-quality hydrocarbon-bearing reservoir below its original Longtail-1 well. Senior VP Mike Cousins appears to be optimistic about XOM’s performance moving forward on this news. According to Cousins, this news, along with other discoveries further supplements the company’s “high-potential development opportunities” at offshore Guyana.
If all that wasn’t enough, the company also reported solid figures in its recent quarter fiscal posted back in April. In it, XOM raked in total revenue of $57.67 billion. Moreover, the company also saw massive year-over-year surges of 547% in net income and 557% in earnings per share. All things considered, would XOM stock be a top buy for you now?