Within the S&P 500, there are several stocks with an annual dividend yield of more than 5%.
Those that stand out for the dividend belong to sectors such as consumer staples, consumer discretionary, and communication.
In this piece, we’ll take a look at three high-dividend paying stocks that have a bullish technical setup.
The boasts a selection of stocks offering dividend yields exceeding 5%, providing potential income opportunities for investors. Sectors like utilities (NYSE:), financials (NYSE:), and consumer staples (NYSE:) dominate this list.
While these stocks offer attractive dividend yields, it’s crucial to consider their overall performance and current trends. Some stocks may be trapped in trading ranges, limiting their upside potential.
But in this piece, we’ll examine three stocks combining high dividend yields with strong technical indicators to identify promising investment opportunities. These stocks have demonstrated resilience within their trading ranges and offer potential upside if they break through resistance levels.
1. Verizon
Verizon Communications (NYSE:) is in the business of providing communications, technology, information, and entertainment products and services to consumers and businesses worldwide.
It was formerly known as Bell Atlantic Corporation and changed its name to Verizon Communications in June 2000. The company was incorporated in 1983 and is headquartered in New York.
Its annual dividend yield is 6.56% and it maintains dividend payments for 41 consecutive years, demonstrating its financial stability.
Source: InvestingPro
It will present its results on October 22. Verizon reported an increase in its second-quarter financial performance backed by substantial growth in wireless revenue. It also had a 69% increase in its subscriber base, which now exceeds 3.8 million.
The EBITDA was $12.3 billion (up 2.8% year-over-year), and free cash flow and operating efficiency improved, with a notable $3.2 billion reduction in net debt.
Its Beta is 0.39, meaning that its shares move in the same direction as the S&P 500 but with lower volatility.
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