Is This 5.5% Yielding Dividend Grower the Ultimate Income Stock?
Analysts estimate that millions of people die prematurely around the globe every year from habitual cigarette usage. This has been an issue for over a century, which is why people and governments are consistently working to reduce smoking levels among the global population. But what if I told you the largest driver of cigarette reduction today is one of the world's largest tobacco companies?
Enter Phillip Morris International (NYSE: PM). That's right, over the last decade-plus the global tobacco giant has invested billions and successfully pivoted its business away from cigarettes to "safer" nicotine products. Even though it has embraced these fast-growing nicotine products, its stock still trades at a cheap earnings multiple and has a strong dividend yielding over 5.5%. Investors are likely still valuing it as a tobacco stock, a sector that is considered to be in secular decline.
Here's why this misunderstood nicotine giant can be a fantastic income grower for your stock portfolio.
Source Fool.com
