5 best dividend-paying stocks to buy in July
While the stock market has remained largely resilient over the past year or so – recovering quickly from the first …
While the stock market has remained largely resilient over the past year or so – quickly recovering from the initial disruptions associated with the pandemic in early 2020 and hitting another set of records – things have admittedly slowed down this summer.
In fact, since the end of April, major stock market indices have been largely stable thanks to lingering concerns about inflation and overvalued stocks after the recent acceleration. This leads some investors to consider “risk-free” transactions which are less volatile.
The following five dividend-paying stocks offer both impressive dividends of over 3% as well as strong stock price performance over the past few weeks to prove they may have more to offer in July and into 2021 :
– B&G Foods (ticker: BGS)
– Broadstone net lease (BNL)
– EnLink Midstream (ENLC)
– Fortress Transportation and Infrastructure Investors (FTAI)
– The Macerich Company (MAC)
B&G Foods (BGS)
Current yield: 5.77%
B&G Foods offers packaged foods under a multitude of brands, including Crisco Shortening, Ortega Taco Sauces and Shells, and Green Giant Canned Vegetables.
Founded in 1889, the company has a long history of delivering strong consumer brands to grocery stores across the country and knows how to manage finances to provide shareholders with consistent payments since its IPO in 2004. Dividends have grown over 125% over the past 10 years, from 21 cents per quarter in 2011 to 47.5 cents per share currently.
Stocks have been showing strong momentum lately with double-digit gains in the last month or so.
Broadstone Net Lease (BNL)
Current yield: 4.24%
Broadstone Net Lease is a real estate investment trust, or REIT. This special category of shares benefits from tax advantages for its heavy real estate transactions in exchange for a mandate to return 90% of taxable income to shareholders.
What makes Broadstone interesting is the “net lease” in its name, where the tenant is actually required to pay things like maintenance and taxes, and BNL just cash the rent check.
The fact that Broadstone is focused on around 660 single-tenant properties like independent Taco Bell restaurants or Family Dollar discount stores adds even more stability to stocks. These long-term leases with established companies tend to be incredibly reliable, which means the dividend is stable and secure.
EnLink Midstream (ENLC)
Current yield: 6.02%
EnLink is an “intermediate” energy operator with a natural gas processing, transportation and storage network across Texas, Oklahoma and Louisiana.
The company operates approximately 11,900 miles of pipelines, 22 natural gas processing plants and a fleet of trucks, barges and rail assets. The outlook for energy has been bleak in recent times, thanks to commodity prices rallied in recent months on the prospect of higher inflation, but then fell sharply in recent times on higher interest rate indices from the Federal Reserve.
However, ENLC is immune to price volatility as it is essentially an intermediary in the supply chain. This has allowed a stable performance of the shares since the start of the year, as well as a generous and reliable dividend.
Investors in transport and fortress infrastructure (FTAI)
Current yield: 3.82%
FTAI operates transportation-related terminals, including industrial seaports, and leases airplanes and engines to the aviation industry.
Although based in New York City, Fortress’s main properties are located along the Ohio River and the Gulf of Mexico. The company has nearly 300 aeronautical assets serving a global clientele from Africa to Europe via South America.
The stable income generated by this reliable business is fueling a generous dividend, and the recent return of cyclical economic activity, including commercial flights and industrial activity, has helped propel Fortress stock to a new 52-week high. recently.
The Macerich Company (MAC)
Current yield: 3.38%
Macerich is another REIT for income investors to consider.
Beyond the attractive dividend stream, Macerich is a solid cyclical stock to buy right now thanks to its 51 million square feet of real estate which consists primarily of regional malls and malls. In the wake of the pandemic and amid continued cuts in social distancing restrictions, in-person spending continues to rise as Americans with cabin fever go out more often.
With a resurgence of consumer spending As the pandemic continues to slip into the rearview mirror, MAC stock has risen 70% year-to-date, in addition to a generous payment of 15 cents per quarter.
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Update 6/24/21: This story was posted at an earlier date and has been updated with new information.