4 Must-Own Dividend Stocks In 2021: AbbVie, Vale, Progressive, And HP

NYSE: ABBV | AbbVie Inc.  News, Ratings, and Charts

President Trump has signed a new stimulus bill which is good news for the markets going into 2021. However, the coronavirus pandemic s still raging and it is unclear how quickly vaccination efforts will contain the spread. Moreover, a new and more infectious strain of COVID-19 has spread in many European countries, pushing their governments to implement fresh lockdown measures and adding more uncertainty to the pace of economic recovery.

Along with these concerns, political gridlock and the pace of economic recovery are expected to inject continued uncertainty in the financial markets over the coming quarters. So, it might be wise to pick stocks that have a strong history of paying dividends and upside potential based on strong fundamentals.

AbbVie, Inc. (ABBV - Get Rating), Vale SA (VALE - Get Rating), The Progressive Corporation (PGR - Get Rating), and HP, Inc. (HPQ - Get Rating) are three stocks that have been increasing their dividends. These companies have proven business models and they are innovating quickly to grab more market share.

AbbVie, Inc. (ABBV - Get Rating)

ABBV is involved in the development and marketing of therapies that address a range of health conditions. The company’s products help treat conditions such as Parkinson’s disease, psoriasis, rheumatoid arthritis, and more. ABBV’s stock has gained 16.8% so far this year.

The European Medical Agency recently recommended RINVOQ for approval. RINVOQ is an oral drug for the treatment of adult patients with active psoriatic arthritis and/or active ankylosing spondylitis. This drug has been developed by ABBV and could lead to significant gains for the company in the future.

ABBV has declared a dividend per share of $1.3 for this quarter. This is an increase of 10.2% from the earlier dividend amount. VZ’s dividend payout has grown at a CAGR of 20.9% over the past five years. The company has an annual dividend yield of 5.04%. The four-year average yield of the company is 4.33%.

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