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Top Stocks To Buy Now? 2 Dividend Stocks To Watch

Do you have these dividend stocks on your April 2023 watchlist?

In the realm of investing, a dividend is a payment made by a corporation to its shareholders, typically in the form of cash or additional shares of stock. This distribution, often derived from the company’s earnings, serves as a reward for investors who hold the company’s stock. Dividends provide a steady stream of income, making them a highly sought-after feature for many investors, especially those seeking consistent returns or looking to balance their portfolios.

Dividend stocks are shares of companies that regularly distribute dividends to their shareholders. These stocks appeal to investors who prioritize consistent income generation alongside potential capital gains. Dividend-paying companies are usually well-established, financially stable, and have a proven track record of profitability, making them a popular choice among investors seeking lower-risk investments with a focus on long-term growth and stability. With that said, let’s dive into two dividend stocks to watch in the stock market today.

Dividend Stocks To Buy [Or Avoid] In April 2023

3M Company (MMM Stock)

To start, 3M Company (MMM) is a multinational conglomerate that produces a wide range of products across various sectors, such as healthcare, electronics, transportation, and consumer goods. The company is well-known for its innovation, consistently developing new products and technologies. Currently, MMM has an annual dividend yield of 5.87%.

At the end of January, 3M reported its 4th quarter 2022 earnings results. In the quarter, the company posted earnings of $2.28 per share, along with revenue of $8.1 billion for Q4 2022. Meanwhile, analysts’ consensus estimates were earnings of $2.34 per share and revenue of $8.1 billion. In addition, 3M also said that it estimates 2023 earnings to be in the range of $8.50 to $9.00 per share, with revenue estimates in the range of $32.15 billion to $33.52 billion.

Over the last month of trading action, shares of MMM stock have fallen by 6.95%. While as of Wednesday’s closing bell, MMM stock is trading at $102.29 per share.

Source: TD Ameritrade TOS

[Read More] Best Bank Stocks To Buy Now? 3 For Your Watchlist

Chevron (CVX Stock)

Next, Chevron Corporation (CVX) is a multinational energy corporation. The company engages in exploring, producing, and refining oil and natural gas, with operations worldwide. The company is one of the largest integrated oil and gas companies globally. Today, CVX offers its shareholders an annual dividend yield of 3.56%.

Earlier this week, Chevron reported the date it will release its Q1 2023 financial results. In detail, the company will report its Q1 2023 financial results on Friday, April 28, 2023, at 11:00 am EST. To briefly recap, in Q4 2022, Chevron notched in earnings of $4.09 per share, and revenue of $56.5 billion.

In the last month of trading action, CVX stock has increased by 2.23%. Meanwhile, as of Wednesday’s closing bell shares of CVX closed the day at $169.88 a share.

Source: TD Ameritrade TOS

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By Brett David

Brett David is a digital marketing and finance professional for nearly 10 years now and a contributing author for StockMarket.com. His passion for digital marketing and the stock market began after graduating with a B.S.B.A in business administration and finance. After completing college, he went on to becoming an entrepreneur in the marketing and finance space, which led to becoming a contributor to outlets such as ThriveGlobal.com, MarijuanaStocks.com, MarketingAgency.com and SearchEngineWatch.com.

Brett loves the ability to deliver to his readers engaging and educational content that can be easily consumed by the reader. He enjoys writing about a wide variety of companies ranging from blue-chip stocks to the undervalued small and micro cap stocks. His favorite stock market sectors today to write about are: Tech, Cannabis, Mining, Biotech, and TMT.

Brett has worked with hundreds of publicly traded companies on increasing their digital footprint and corporate outreach since 2013.

You can find Brett most of time digging through corporate filings conducting fundamental analysis or at an industry conference looking for the next big trend or company to hit the street. His digital marketing experience gives a competitive edge over other contributing authors by allowing him to see and analyze trends faster than the next person.

Brett, a South Florida native, enjoys spending time with his wife and son outdoors, and is an avid basketball and MMA fan.

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