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Looking for income? We’ve got you covered! In this part one of the Best Dividend Income Stocks for 2024, we’ll discuss the pros and cons of 7 companies in 4 different sectors.
 

You’ll Learn

• First, let’s describe what a safe income dividend stock is to me and my criteria for selecting it.
• It seems easier to find high yields in Canada than in the US. I give you an explanation.
• The REIT sector is normally good for finding income stocks as they must distribute most of their income. In the US, we can think of Vici Properties (VICI). VICI is a triple-net lease REIT focused on Casinos. Its stable business model ensures it has a place on our list.
• But with all the economic uncertainties, isn’t buying a REIT based on leisure and spending riskier? What other potential downsides face VICI?
• Another REIT worth mentioning is Realty Income (O), a highly diversified REIT in terms of tenants, industries, geographies, and property types. This classic income play REIT shows an occupancy rate of 99%!
• Realty Income is among the five REIT members of the S&P High Yield Dividend Aristocrats. However, investors should expect little capital appreciation. Why is it so?
• The healthcare sector also shows some of the best income stocks on the market. Why are healthcare stocks actually showing higher dividend yields?
• Among our list is Pfizer (PFE). I describe his investment thesis for this one, relying on international sales and recent acquisitions.
• Many investors were concerned about PFE in 2023 as its stock price greatly declined. Am I worried about it, and what should investors expect in the short term compared to the long term?
• Another company part of our Best Income Stocks list is AbbVie (ABBV), a dividend aristocrat. ABBV added new drugs to its pipeline, which makes it more diversified.
• As is often the case with healthcare companies, patent renewals can significantly affect AbbVie’s results. What else should we be aware of?
• We end with some of the Brookfield companies. These Canadian companies trade on the US market and pay their dividends in US dollars. I discuss Brookfield Asset Management (BAM), Brookfield Infrastructure (BIP), and Brookfield Renewable (BEP).
• Why should investors select these utilities instead of pure American plays?

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2023 Year-End Sector Review – Part 2