This Top Tech Stock Is Now Yielding a 3.5% a Year Dividend
We're now a long way removed from the high-growth stock hype of 2021. Investors have taken a hard left and are now favoring highly profitable businesses that pay dividends. But the ability to dole out quarterly income isn't a lifesaver. Take Swiss tech company Garmin (NYSE: GRMN) as an example. Shares are down 54% from their peak last year as sales cool down from an early pandemic consumer spending frenzy.
After the massive sell-off, Garmin stock is now paying a 3.5% annualized dividend yield. Is it time to start nibbling if investment income is your preference?
Once upon a time, Garmin was primarily a GPS (global positioning system) device company. It still makes products geared toward the marine, aviation, and auto industries. But these days, the company's main breadwinner is wearable gear for fitness and outdoor enthusiasts.
Source Fool.com
