Top 3 Defensive Dividend Stocks in August 2024: Altria Group Inc., Verizon Communications, and Entergy Corporation
The recent volatility in the market has investors on edge, but dividend stocks can provide a cushion against potential losses. With the VIX still elevated and credit card delinquencies on the rise, it’s crucial to consider defensive dividend stocks.
1. Altria Group Inc. (NYSE: MO) – With a 7.79% dividend yield and a strong market share in the tobacco industry, Altria continues to deliver consistent revenue. Their expansion into e-cigarettes is paying off, with impressive growth in shipment volume. Despite a declining sector, Altria remains optimistic about their earnings per share for 2024.
2. Verizon Communications (NYSE: VZ) – As a telecom giant with a 6.56% dividend yield, Verizon dominates the market with stable wireless revenue and consistent net additions. Their recent earnings beat estimates, making them a reliable defensive dividend stock.
3. Entergy Corporation (NYSE: ETR) – With a 3.85% dividend yield, Entergy is investing heavily in grid upgrades and a transition to carbon-free energy sources. Despite lower net income due to large investments, the company’s future looks promising with anticipated demand growth and potential interest rate cuts.
In times of market uncertainty, these defensive dividend stocks offer stability and potential for growth. Consider adding them to your portfolio to protect against volatility and generate consistent returns.
(Note: This information is for educational purposes only and does not constitute financial advice. Please consult a professional advisor before making any investment decisions.)