2 Dividend Stocks to Double Up on Right Now
Recent research from Hartford Funds suggests the seemingly mundane strategy of investing in dividend stocks could lead to substantial gains. Specifically, going back to 1960, approximately 85% of the S 500's impressive 51,000% surge is owed to reinvesting dividends and compounding.
With that in mind, let's examine a couple of longtime dividend-paying stocks that might be worth buying even at or near 52-week highs.
Caterpillar (NYSE: CAT) stock has been on a tear over the past year, generating a total return of 62% for shareholders. The world's largest construction equipment manufacturer has paid a quarterly dividend for 91 consecutive years and raised it in each of the last 30 years. Today, the company pays a quarterly dividend of $1.30 per share, representing an annual yield of 1.45%.
Source Fool.com
Caterpillar Inc. Stock
With 14 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 324 € there is a slightly positive potential of 1.41% for Caterpillar Inc. compared to the current price of 319.5 €.
