Dividend investing has become a widely popular strategy that ensures traders always have a steady income stream, regardless of their other stock market activities or day jobs. Dividends not only provide a consistent source of income but also offer the opportunity to increase one’s stock holdings through direct reinvestment. While dividends are not without flaws, they remain a crucial part of many market strategies.
In light of this, Finbold has analyzed and identified the three best blue-chip companies to invest in for regular quarterly payments in 2024. These companies have a strong track record of both returns and yield growth, making them attractive choices for dividend investors.
Chevron Corp (NYSE: CVX) is one such company. Despite the ongoing green transformation and the theoretical decline of oil as an energy source, Chevron remains a strong pick due to its stock market track record and extensive global network of oil extraction plants. Backed by Warren Buffett, Chevron’s stock performance in 2024 has been moderate, with a 3% increase. However, it offers a quarterly dividend of approximately $1.63 per share, resulting in a 4.23% annual dividend yield. Analysts predict a 12-month outlook with an average 21% upside for Chevron.
Apple (NASDAQ: AAPL), another Buffett-backed stock, may not offer high dividends with a 0.44% annual yield of $0.21 per share each quarter. However, it is still an excellent choice for savvy investors. Apple has a strong track record and recently announced a partnership with OpenAI to integrate ChatGPT into its future operating systems. Considering the significant rise of other AI stocks in 2024 and the modest growth of AAPL shares since the beginning of the year, it is likely to provide substantial returns alongside decent dividends.
Walmart (NYSE: WMT) may not be the most exciting stock in the market, but it has consistently offered exceptional returns. Despite not being part of flashy sectors like AI or solar energy, WMT shares have seen a nearly 90% increase over the last five years and over 35% in the last 12 months. Walmart is also considered a strong dividend pick, with an annual yield of 1.19% and a quarterly dividend of $0.21 per share. Analysts predict that WMT’s price, currently at $69.98, will rise to $73.85 in the next 12 months.
It is important to note that this article does not provide investment advice, and investing always carries risks.
