Don't Ignore the Monster Opportunity in This Passive Income Stock
Broadcom (NASDAQ: AVGO) has emerged as one of the more notable dividend stocks in the tech industry. While not the highest-yielding dividend stock, it stands out due to its dividend growth.
Like most other tech stocks, it has dropped significantly in the Nasdaq bear market. Still, that decline increases the dividend yield while discounting the valuation. Given such conditions, investors should consider taking a closer look at Broadcom's value proposition.
Broadcom pays shareholders $16.40 per share every year. At a price in the $525 per share range, it produces a return of 3.1%. While that is almost double the current 1.6% dividend yield of the S&P 500, numerous dividend stocks offer higher cash yields.
Source Fool.com
