4 Top Dividend Stocks To Buy In November

In response to the coronavirus pandemic, the Fed is maintaining a low-interest-rate environment and repurchasing treasury bills and mortgage-backed securities. 

To support the economic recovery, the Fed announced its intentions to hold the interest rates near zero till 2022. With millions of people out of work and an increasing number of Americans feeling severely cash-strapped, dividend stocks can prove to be good bets as they can offer a steady stream of income.

Moreover, as the market volatility is expected to rise with the fear of the “Second Wave” of coronavirus, companies such as  Quest Diagnostics, Inc. (DGX - Get Rating), Snap-on Incorporated (SNA - Get Rating), Penske Automotive Group, Inc. (PAG - Get Rating) and Evercore Inc. (EVR - Get Rating) that offer impressive dividend yield and have been able to sustain their dividend payments could be some of the safest investment bets in the upcoming months.

Quest Diagnostics, Inc. (DGX - Get Rating)

DGX is diagnostic testing, information, and service provider operating globally. The company has a strategic partnership with hc1, Clinical Genomics Pty Ltd, and Anthem, Inc.

DGX has recently partnered with Catapult Health to facilitate virtual clinical services to the employees of various organizations at lower costs. This should incentivize more companies to sign up with DGX to offer all-round healthcare benefits to its employees, thereby increasing its revenue.

On October 6th, DGX announced its collaboration with CLEAR to provide mobile identity verification technology with verified DGX COVID-19 test results. This partnership could put DGX at the forefront of pandemic response in the United States and also increase its MyQuest – patient portal, user base significantly.

DGX currently pays $2.24 as dividends annually, which yields 1.8% based on the current price. DGX’s revenue grew 42.5% year-over-year to $1.95 billion in the third quarter ended September 2020. Operating income increased 129.5% from the year-ago value to $718 million, while EPS rose 164.6% year-over-year to $4.14 over this period.

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