3 Reasons to Buy This High-Yield Dividend Stock

Throughout the year, financial markets have had the jitters surrounding elevated inflation, rising interest rates, and softening parts of the economy. That's why the S&P 500 index is still down 10% year-to-date, despite the rally over the last several weeks.

But plenty of stocks that are viewed as more defensive and income-oriented have trounced the S&P 500 index thus far in 2022. Pharma stock Bristol Myers Squibb (NYSE: BMY) -- Up 20% year-to-date -- is one such example. Yet the shares appear to still be an appealing buy for income investors. Here's why.

With more than 32,000 employees throughout 45 countries, Bristol Myers is one of the largest pharmaceutical companies in the world. The company's drug portfolio is diversified across numerous therapy areas like oncology, immunology, and cardiology. 

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Source Fool.com