To kick off, dividend stocks are a type of stock that pays out a portion of the company’s profits to shareholders on a regular basis. These payments, known as dividends, can provide a steady stream of income for investors. With that, dividend investing is the strategy of focusing on stocks that pay dividends, in order to generate a consistent return on investment.
Also, dividend investing can be a great way for everyday investors, or retail investors, to build wealth over time. Dividend stocks can provide a reliable source of income, and can also act as a cushion against market volatility. Additionally, many companies that pay dividends have a history of steady growth, making them a potentially safer investment option. Dividend investing may also be a good strategy for investors looking for a steady income stream in retirement.
Though, It’s important to note that dividends are not guaranteed, and a company can always decide to cut or eliminate dividends. Therefore, it is important to do your due diligence when selecting companies to invest in and diversify your investments. Taking this into account, here are three top dividend stocks to watch in the stock market now.
Dividend Stocks To Buy [Or Avoid] Today
- Church & Dwight Company Inc. (NYSE: CHD)
- Brown & Brown Inc. (NYSE: BRO)
- Chevron Corporation (NYSE: CVX)
Church & Dwight (CHD Stock)
To start, Church & Dwight Company Inc. (CHD) is a consumer packaged goods company. The company produces and markets a wide range of household and personal care products. This includes notable brands such as Arm & Hammer baking soda, Trojan condoms, and OxiClean laundry detergent. Currently, the company offers its shareholders an annual dividend yield of 1.31%.
Earlier this week, Church & Dwight announced it will be hosting an event called the 2023 Analyst Day on February 3, 2023. During this event, the company will present its fourth quarter and full-year 2022 earnings results to the public via a live webcast. Media and investors can access the webcast on the company’s website at 1:00 p.m. Eastern Time.
In the last month of trading, CHD stock is down 2.43%. While, during Friday’s mid-morning trading session, shares of CHD stock are trading at $79.92 per share.
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Brown & Brown (BRO Stock)
Next, Brown & Brown Inc. (BRO) is a large insurance brokerage firm that provides insurance and reinsurance products and services to businesses, public entities, and individuals, such as property and casualty, employee benefits, and reinsurance brokerage services. As of today, BRO stock offers an annual dividend yield of 0.79%.
Also this week, Brown & Brown reported its fourth-quarter and full-year 2022 financial results. In detail, the company notched Q4 2022 earnings per share of $0.50 on revenue of $901.4 million. This exceeded the consensus estimate of $0.44 per share on revenue of $897.1 million. Additionally, the company saw significant growth in revenue, with a year-over-year increase of 22.1%.
Since the start of 2023, Brown & Brown stock has recovered slightly by 2.12%. Meanwhile, during Friday morning’s trading session, shares of BRO stock are trading modestly lower on the day by 1.10% at $57.72 a share.
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Chevron (CVX Stock)
Last but not least, Chevron Corporation (CVX) is a major integrated energy company that operates in various sectors such as exploration and production, refining, marketing, and chemicals. It is involved in the exploration, production, refining, transportation, and marketing of oil, natural gas, and other energy products. As of today, CVX has an annual dividend yield for shareholders of 3.30%.
On Friday morning, Chevron reported its 4th quarter 2022 financial and operating results. Diving in, the company reported earnings per share of $4.09 on revenue of $56.5 billion. The reported earnings per share were slightly lower than the consensus estimate of $4.16 per share on revenue of $53.6 billion. Though, Chevron reported a 17.3% increase in revenue versus the same period, the previous year.
Starting off January 2023, shares of CVX stock have gained by 4.87% so far YTD. Though, on Friday mid-morning, Chevron stock is trading lower by 2.85% on the day, at $182.43 a share.