3 High-Yielding Dividend Stocks That Investors Can Safely Buy and Hold for Decades
Yahoo Finance ·
These are strange times for the stock market. Although the S&P 500 ( ^GSPC +1.58% ) is technically more expensive than it's ever been and the AI stocks leading it higher are finally showing signs of vulnerability, we're also still within sight of the record highs reached early last month. And that's despite consumer confidence remaining near multiyear lows. Lingering inflation doesn't seem to be weighing too much on investors' minds either, even though it's forcing the Federal Reserve to ratchet up interest rates, which seem likely to stay there for a while. This might be a good time to rethink what your portfolio looks like for the indefinite future, focusing more on future cash flow and relying a little less on capital growth that may not materialize as much as previously anticipated. In other words, it may be time to add some long-term exposure to higher-yielding dividend stocks. Here are three to consider. Clorox ( CLX +5.71% ) hasn't exactly felt like a super-safe dividend stock to buy and hold lately. Although the consumer goods ticker rallied during and because of the COVID-19 pandemic, since its 2020 peak it's peeled back by 60%, making a new multiyear low just last month. Thanks to a 2023 cyberattack that did some surprisingly long-term damage and a migration to a new ERP (enterprise resource planning) platform that's not gone as smoothly as hoped, the company's simply struggled -- with the shrinking sales and earnings to prove it. Never mind the fact that it just doesn't have the same benefit of scale that much larger rival Procter & Gamble enjoys. P&G did $87 billion worth of business last fiscal year, for perspective, while Clorox only did $6.7 billion, down 5%.
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