1 Incredibly Cheap Dividend Stock to Buy Now
Dividend stocks offer investors a phenomenal way to reduce the overall volatility of a portfolio. The regular payouts those shares provide can help offset stock price declines, and studies have shown that during downturns, Dividend payers generally outperform non-payers.
The best dividend stocks are the ones that not only offer an above-average yield but also have upside potential on their share prices. That's exactly what Stellantis (NYSE: STLA) appears to be and its why you might want to consider this auto stock.
Stellantis stock trades near the top of its 52-week share price range, and yet it's still trading at an incredibly cheap price-to-earnings ratio of 3.2 and it offers an eye-popping yield of 6.6%. The jump in price actually brought the yield down from 9%-plus levels seen back in May 2023.
Source Fool.com
