This 9% Dividend Yield Stock Is a No-Brainer Buy Right Now
If you're on your way to retirement, it may be time to start putting some dividend stocks in your portfolio. They may not have as much upside as high-growth stocks, but reliable dividend payers can provide consistent income for your portfolio with much less risk. As you age, it is not just about growing the pie, but maintaining it. And dividend payers are generally superior to growth stocks in this regard.
Most stocks with dividend yields approaching 10% operate risky businesses and are vulnerable to cutting their dividends over the next few years. Typically you are better off buying dividend payers with lower yields that have the chance to grow their dividend payouts over the next decade. But there is one dividend payer that will not only be able to sustain its 9%+ yield this decade, but has a clear path to growing its dividend per share. Enter Altria Group (NYSE: MO), a misunderstood tobacco giant that is a no-brainer buy for income-seeking investors.
Altria is the leading tobacco company in the United States with its Marlboro cigarette brand. Marlboro has a greater-than-50% share of the premium cigarette market in the country, shipping 52 billion Marlboro sticks just through the first nine months of this year.
Source Fool.com
