2 Dividend Stocks to Double Up On Right Now
Sometimes dividend investors focus on yield without giving dividend growth enough weight in their investment decisions. But keeping up with the ravages of inflation is just as important as maximizing current income. This is why it pays to add some lower-yielding, but higher-dividend-growth, investments to your portfolio -- like Texas Instruments (NASDAQ: TXN) and Hormel Foods (NYSE: HRL). Both are trading with historically high yields today, so it could be a great time to double down on these two stocks.
The global chip sector went from an upturn in which demand outstripped supply to an industry downturn in which supply is above demand. Global chip giant Texas Instruments has been caught up in the fallout, with its nearly 2.9% dividend yield near the high end of its historical range. That suggests this stock is cheap today.
Image source: Getty Images.
Source Fool.com
