3 “Strong Buy” Dividend Stocks Yielding More Than 4%

NYSE: VZ | Verizon Communications Inc.  News, Ratings, and Charts

The current low-interest-rate environment has made it really difficult for investors to ensure a steady stream of income. While there is some optimism over the success of medical science to contain the virus in the near term, the continued increase in coronavirus cases should keep the investment environment difficult for some time. In such a scenario, betting on stocks that offer high dividend yields could be a great option.

While many companies suspended or cut dividends amid the pandemic, some companies have been able to keep rewarding shareholders with solid dividends as they were either able to withstand the pandemic or profit from its societal changes. Overall, dividend stocks have performed well this year, as indicated by the Vanguard High Dividend Yield ETF’s (VYM) 38.2% gain since March.

Verizon Communications, Inc. (VZ - Get Rating), AbbVie, Inc. (ABBV - Get Rating), and KB Financial Group, Inc. (KB - Get Rating) possess strength in their financials and business models and pay high dividends. So, betting on these stocks could help provide you a steady stream of income while offering strong potential for capital appreciation.

Verizon Communications, Inc. (VZ - Get Rating)

VZ is one of the leading telecommunication providers in the United States. The company provides information, communication, and entertainment products and services. VZ’s stock has gained 20.8% since hitting mid-March lows.

VZ is now offering a new line-up of iPhones which will run on the 5G VZ network. The company has also agreed to acquire a part of Bluegrass Cellular, which is a rural wireless operator based in Kentucky.

The company distributed a $0.6275 dividend per share for the last quarter, which is an increase of 2.03% from the earlier dividend amount. The company’s dividend payout has a five-year CAGR of 2.51%. The expected annual dividend yield is 4.16%, while the four-year average dividend yield is 4.62%.

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