"Biopharmaceutical company Bristol Myers Squibb Co. (NYSE: BMY) is a global giant that discovers, develops, and delivers innovative medicines. BMY is a strong dividend stock with a yield of 5.66% and has remained a solid pharmaceutical giant for many years. It has increased dividends for 16 consecutive years. Bristol Myers Squibb is committed to delivering transformative medicines for patients in areas such as immunology, oncology, cardiovascular disease, hematology, and neuroscience."
"The stock is exchanging hands for $43 and is down 22% year-to-date, offering a great entry point for investors. The stock is nearing its 52-week low and looks cheap to me. Despite the drop in value, Bristol Myers Squibb is a great buy for its portfolio. It has a lineup of new treatments that could offset the losses from losing exclusivity on two drugs- Eliquis and Revlimid."
"There's no better way to generate passive income than dividend stocks. If a stock has a dividend yield higher than the common benchmark, such as the S&P 500, it could be a worthwhile investment. The dividend yield of the S&P 500 averages 1.2%, nearing its record low. Fortunately, there are several dividend stocks with a higher yield and a solid history of increasing dividend payouts."
The S&P 500 dividend yield averages about 1.2%, close to a record low, making higher-yielding dividend stocks attractive for passive income. Investors should evaluate cash flow, balance sheet strength, and dividend sustainability when selecting high-yield stocks. Bristol Myers Squibb (BMY) yields 5.66%, has raised dividends for 16 consecutive years, and focuses on immunology, oncology, cardiovascular, hematology, and neuroscience medicines. BMY trades near $43, down 22% year-to-date, with a growing pipeline and revenue of $12.3 billion in Q2. Growth portfolio revenue rose 18% while legacy revenue fell 14%; management raised full-year guidance and maintains liquidity to support dividends.
Read at 24/7 Wall St.
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