Is This High-Yield Stock a Buy for Passive Income?
Stubborn inflation well above the Federal Reserve's 2% target, elevated interest rates, and slowing economic activity are all warning signs of a potential recession in 2023. A survey of economists suggests that the probability of an economic downturn coming to the U.S. within the next 12 months is around 68%.
With a potential recession on the way, investors often adjust their portfolio strategies to prepare. When done right, dividend growth investing has proven itself to be a durable strategy no matter the economic environment. This is because the best businesses are operating well enough to raise their payouts no matter what is going on in the world.
T. Rowe Price Group (NASDAQ: TROW) has raised its dividend annually for 37 consecutive years. This track record of growth raises the question: Is this stock a buy for investors seeking reliable income? Let's take a closer look at T. Rowe Price's fundamentals and valuation to see if an answer arises.
Source Fool.com
