British American Tobacco (NYSE: BTI) has a massive 9.9% dividend yield. If it can sustain that dividend, investors will basically get the average return of the market over time from dividends alone. If the stock price goes up, all of that gain would be gravy. That sounds like a recipe for long-term investment success. But read this before you jump in thinking British American Tobacco is set to make you a millionaire.

The problem with British American Tobacco is that the main product it sells is cigarettes. Demand for cigarettes has been in decline for years. For example, in 2018 the company produced around 700 billion cigarettes. In 2023 the figure was just 555 billion. So in just five years the company's production of cigarettes fell by roughly 21%, which is a hugely troubling figure for a consumer staples business.

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Source Fool.com