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3 Stocks in Focus That Hiked Dividends Amid Ongoing Market Volatility
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Key Takeaways
Becton Dickinson declared a $1.06 per-share dividend, marking its eighth hike in five years.
Cencora announced a $0.66 per-share dividend, increasing its payout six times in five years.
UniFirst declared a $0.38 per-share dividend, with six hikes over the past five years.
Markets have remained volatile for weeks, and on Thursday, Wall Street suffered one of its worst days, as investors dumped the high-flying tech and AI stocks on fears of a slowdown in data-center buildout.
Several market participants believe that the AI boom could come to an end soon. Investors’ sentiment has already been low owing to high inflation, which has been impacting the economy’s health for months.
As market uncertainty persists, conservative investors looking for steady income and protection against volatility may want to consider dividend-paying stocks. These investments offer a regular income stream through consistent dividend distributions while potentially providing greater stability during periods of market turbulence.
Here are three dividend stocks that investors may want to add to their watchlists: Becton, Dickinson and Company (BDX - Free Report) , Cencora, Inc. (COR - Free Report) and UniFirst Corporation (UNF - Free Report) .
Wall Street Crashes
Trillions of dollars were wiped out of Wall Street on Thursday, as markets gave up all the gains from the rally seen a day after the Midterm elections. The Nasdaq dropped 5.5% to end at 24,315.00 and entered correction territory. The tech-heavy index alone saw $2.3 trillion being wiped out in market value.
The Dow also plunged 1,833.06 points, or 3.4%, while the S&P 500 shed 4.4%. Investors fear that the Democratic victories in the U.S. midterm elections could see Congress crack down on AI development and data center expansion.
This saw investors rotate out of tech stocks and take refuge in more defensive areas of the market. Overall sentiment has remained low for months as inflation remains high, primarily because of a surge in oil prices.
Oil prices have remained elevated since March, after war broke out between the United States and Iran. This has resulted in inflation soaring over the past six months. The Federal Reserve raised interest rates by 25 basis points in September for the first time in over three years.
The Fed is likely to go for another rate hike by the end of this year. Higher borrowing costs could keep markets volatile for a longer period.
3 Stocks That Recently Announced Dividend Hikes
Becton, Dickinson and Company
Becton, Dickinson and Company is a medical technology company engaged principally in the development, manufacture and sale of medical devices, instrument systems and reagents. BDX’s operations currently consist of four reportable segments — Medical Essentials, Connected Care, BioPharma Systems and Interventional. Becton, Dickinson and Company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On Nov. 5, Becton, Dickinson and Company announced that its shareholders would receive a dividend of $1.06 a share on Dec. 31. BDX has a dividend yield of 2.01%. Over the past five years, Becton, Dickinson and Company has increased its dividend eight times, and its payout ratio presently sits at 32% of earnings. Check Becton, Dickinson and Company’s dividend history here.
Cencora
Cencora, Inc. is one of the largest pharmaceutical distribution and healthcare solutions providers globally. COR operates two segments: U.S. Healthcare Solutions and International Healthcare Solutions. Its scale in pharmaceutical distribution — spanning branded, generics, and specialty products — positions it at the core of the U.S. healthcare system, serving retail pharmacies, hospitals, physician practices, and specialty clinics. Cencora carries a Zacks Rank #3 (Hold).
On Nov. 3, Cencora declared that its shareholders would receive a dividend of $0.66 a share on Nov. 30. COR has a dividend yield of 0.68%. Over the past five years, Cencora has increased its dividend six times, and its payout ratio presently sits at 14% of earnings. Check Cencora’s dividend history here.
UniFirst Corporation
UniFirst Corporation has become an industry leader and remains one of the fastest-growing companies in the Uniform and Textile Services business. UNF’s business is the rental Lease and Sale of work clothing, uniforms, protective apparel, careerwear, and facility service products to businesses in virtually all industrial categories. UniFirst Corporation sports a Zacks Rank #1.
On Oct. 30, UniFirst Corporation announced that its shareholders would receive a dividend of $0.38 a share on Dec. 15. UNF has a dividend yield of 0.58%. Over the past five years, UniFirst Corporation has increased its dividend six times, and its payout ratio presently sits at 18% of earnings. Check UniFirst Corporation’s dividend history here.
View the Zacks #1 Rank List
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3 Stocks in Focus That Hiked Dividends Amid Ongoing Market Volatility
Key Takeaways
Markets have remained volatile for weeks, and on Thursday, Wall Street suffered one of its worst days, as investors dumped the high-flying tech and AI stocks on fears of a slowdown in data-center buildout.
Several market participants believe that the AI boom could come to an end soon. Investors’ sentiment has already been low owing to high inflation, which has been impacting the economy’s health for months.
As market uncertainty persists, conservative investors looking for steady income and protection against volatility may want to consider dividend-paying stocks. These investments offer a regular income stream through consistent dividend distributions while potentially providing greater stability during periods of market turbulence.
Here are three dividend stocks that investors may want to add to their watchlists: Becton, Dickinson and Company (BDX - Free Report) , Cencora, Inc. (COR - Free Report) and UniFirst Corporation (UNF - Free Report) .
Wall Street Crashes
Trillions of dollars were wiped out of Wall Street on Thursday, as markets gave up all the gains from the rally seen a day after the Midterm elections. The Nasdaq dropped 5.5% to end at 24,315.00 and entered correction territory. The tech-heavy index alone saw $2.3 trillion being wiped out in market value.
The Dow also plunged 1,833.06 points, or 3.4%, while the S&P 500 shed 4.4%. Investors fear that the Democratic victories in the U.S. midterm elections could see Congress crack down on AI development and data center expansion.
This saw investors rotate out of tech stocks and take refuge in more defensive areas of the market. Overall sentiment has remained low for months as inflation remains high, primarily because of a surge in oil prices.
Oil prices have remained elevated since March, after war broke out between the United States and Iran. This has resulted in inflation soaring over the past six months. The Federal Reserve raised interest rates by 25 basis points in September for the first time in over three years.
The Fed is likely to go for another rate hike by the end of this year. Higher borrowing costs could keep markets volatile for a longer period.
3 Stocks That Recently Announced Dividend Hikes
Becton, Dickinson and Company
Becton, Dickinson and Company is a medical technology company engaged principally in the development, manufacture and sale of medical devices, instrument systems and reagents. BDX’s operations currently consist of four reportable segments — Medical Essentials, Connected Care, BioPharma Systems and Interventional. Becton, Dickinson and Company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On Nov. 5, Becton, Dickinson and Company announced that its shareholders would receive a dividend of $1.06 a share on Dec. 31. BDX has a dividend yield of 2.01%. Over the past five years, Becton, Dickinson and Company has increased its dividend eight times, and its payout ratio presently sits at 32% of earnings. Check Becton, Dickinson and Company’s dividend history here.
Cencora
Cencora, Inc. is one of the largest pharmaceutical distribution and healthcare solutions providers globally. COR operates two segments: U.S. Healthcare Solutions and International Healthcare Solutions. Its scale in pharmaceutical distribution — spanning branded, generics, and specialty products — positions it at the core of the U.S. healthcare system, serving retail pharmacies, hospitals, physician practices, and specialty clinics. Cencora carries a Zacks Rank #3 (Hold).
On Nov. 3, Cencora declared that its shareholders would receive a dividend of $0.66 a share on Nov. 30. COR has a dividend yield of 0.68%. Over the past five years, Cencora has increased its dividend six times, and its payout ratio presently sits at 14% of earnings. Check Cencora’s dividend history here.
UniFirst Corporation
UniFirst Corporation has become an industry leader and remains one of the fastest-growing companies in the Uniform and Textile Services business. UNF’s business is the rental Lease and Sale of work clothing, uniforms, protective apparel, careerwear, and facility service products to businesses in virtually all industrial categories. UniFirst Corporation sports a Zacks Rank #1.
On Oct. 30, UniFirst Corporation announced that its shareholders would receive a dividend of $0.38 a share on Dec. 15. UNF has a dividend yield of 0.58%. Over the past five years, UniFirst Corporation has increased its dividend six times, and its payout ratio presently sits at 18% of earnings. Check UniFirst Corporation’s dividend history here.