Want Passive Income? Buy These 2 Beaten-Down Dividend Stocks
A cool thing about dividend stocks is that when their shares drop, their dividend yield rises, giving shareholders an opportunity to add to their positions and lock in better cash returns at a lower price. In the current bearish market, several appealing options have been created to do just that and allow savvy investors to increase their passive income.
Of course, it only makes sense to buy a beaten-down dividend stock if you're confident that the company's cash flows will be consistent enough to support its payout year after year. With that in mind, let's take a look at two stocks that have taken a significant price lately but still have what it takes to maintain (and even grow) their dividend distributions to investors.
The national pharmacy chain Walgreens Boots Alliance (NASDAQ: WBA) is doubtlessly in a slump, with its shares down 47.2% in the last five years. This decline is related, in part, to the slowing growth of its top line, with its trailing-12-month revenue total rising by only around 11.7% over those five years. And it's no surprise why that's the case: The demand for pharmacy services is relatively static from year to year, even when the business offers fresh and relatively popular products like coronavirus diagnostic tests.
Source Fool.com
