It’s no surprise that the stock market is heavily impacted by inflation report data. Inflation data is a report released by the U.S. Bureau of Labor Statistics that measures the changes in prices for goods and services over time. The inflation rate is used to gauge how the purchasing power of consumers has changed, and it can have a significant impact on the stock market.
Stock Market News Today
Just this week, investors received both the Producer Price Index (PPI) and Consumer Price Index (CPI) reports for September. Diving in, on Wednesday, the Producer Price Index reported a surprise increase in inflation. For the month of September, PPI data came in at 8.5%. This is compared to estimates, which were 8.4%. Meanwhile, today all eyes are on the Consumer Price Index or CPI inflation data.
On Thursday morning, the U.S. Bureau of Labor Statistics reported that CPI over the last 12 months, the all items index increased 8.2% prior to seasonal adjustments. Meanwhile, Core CPI was reported at 6.6% in September. Both of these results were higher than analysts’ estimates. As a result, all major stock market indexes have fallen on Thursday, while the S&P 500 drops to its lowest levels since 2020. In light of this new inflation data, we could see investors starting to pay closer attention to dividend stocks.
What Are Dividend Stocks?
Dividend stocks are stocks that offer shareholders a portion of the company’s profits, typically on a quarterly basis. Dividends may be in the form of cash payments or additional shares of stock. For investors, dividend stocks can provide a regular source of income, as well as the potential for capital appreciation.
Next, dividend stocks tend to be more mature companies with established track records of profitability. As such, they tend to be less volatile than other types of stocks and can provide a measure of stability for an investment portfolio. For these reasons, dividend stocks are often favored by income-seeking investors, as well as those who are looking for less volatile growth investments. With this in mind, here are three top dividend-paying stocks to check out in the stock market today.
Dividend Stocks To Watch Amid CPI Inflation Report
1. Altria Group (MO Stock)
First up, Altria Group (MO) is one of the largest cigarette manufacturers in the world. The company sells its products under a number of well-known brands, including Marlboro, Virginia Slims, and Benson & Hedges. Altria also owns a minority stake in Juul Labs, a leading e-cigarette manufacturer. In addition to cigarettes, Altria Group also produces cigars, smokeless tobacco products, and wine. The company has a significant presence in the United States, as well as in international markets.
MO Recent Stock News
In late August, Altria Group announced its Board of Directors declared an increase in the company’s regular quarterly dividend to $0.94, from the previous rate of $0.90. This increase reflects a 4.4% increase in Altria’s quarterly dividend. As a result, the company noted that the new yearly dividend rate is $3.76 per share, which represents an annual dividend yield of 8.2%. Moreover, this most recent dividend increase is the company’s 57th dividend increase over the last 53 years.
Aside from that, On Thursday, Altria Group announced it will be releasing its third quarter 2022 and nine-months year-to-date financial results on Thursday, October 27, 2022, before the market opens.
MO Stock Chart
Over the last month of trading action, MO stock has recovered 4.44%. Meanwhile, as of Thursday’s mid-morning trading session, shares of Altria stock are trading at $44.80 a share.
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2. Simon Property Group (SPG Stock)
Next, let’s take a look at Simon Property Group (SPG). In short, Simon Property Group is a real estate investment trust (REIT. The company focuses on investments and ownership in shopping malls, outlet centers, mills, and community/lifestyle centers. For a sense of scale, SPG is the largest owner of shopping malls in the United States.
SPG Recent Stock News
In recent news, this month Simon Property Group announced they will be releasing its 3rd Quarter 2022 financial results. Specifically, this will be for the company’s financial and operating results for the third quarter of 2022 ending September 30, 2022. In the news announcement, the company said it will announce the results on November 1, 2022, before the market opens. In the meantime let’s take a look back and see how the company did in the second quarter of 2022.
Back in August, SPG reported its 2nd quarter 2022 financial and operating results. In the report, the company notched in earnings of $2.96 per share, and revenue of $1.3 billion. What’s more, SPG also reported that it once again increased its quarterly dividend. Currently, the company offers a quarterly dividend payment of $1.75 per share, which results in an annual dividend yield of 7.43%.
SPG Stock Chart
On Thursday morning, shares of SPG are trading modestly higher by 0.60% at $94.24 per share.
3. ONEOK (OKE Stock)
Following that, we have ONEOK Inc. (OKE). In brief, ONEOK Inc. is one of the largest energy companies in the United States. It is a diversified company with operations in natural gas gathering, processing, storage, and transportation, as well as natural gas liquids (NGL) production, fractionation, marketing, storage, and transportation. Also, the company is engaged in crude oil gathering, processing, and transportation.
OKE Recent Stock News
This month, ONEOK announced they will report their third-quarter 2022 earnings on November 1, 2022, after the close of the U.S. market. While we wait for that, let’s recap how the company performed in the second quarter of 2022.
Back in August, OKE reported a beat for its second quarter 2022 financial results. In detail, the company reported 2nd quarter 2022 earnings of $0.92 per share, with revenue of $6 billion. Additionally, ONEOK was able to grow revenue in Q2 2022 by 76.9% during the same period, in 2021. Separate from that, the company has a quarterly dividend payment of $0.93 per share, which results in an annual dividend yield of 6.84% for OKE stockholders.
OKE Stock Chart
During Thursday’s mid-morning trading session, shares of OKE stock are up 2.30% and currently trading at $54.74 a share.