Forget Home Depot, Buy This Dividend Stock for Passive Income Instead
Home Depot (NYSE: HD) stock is a favorite for many income investors. That's all thanks to qualities like its market leadership position in the home improvement industry and the company's impressive financial strength. Owning this retailer stock today delivers a good chance at capital appreciation as its market recovers, plus immediate passive income in the form of a robust dividend payment.
Yet you might consider a fellow member of the Dow Jones Industrial Average as an even better dividend stock to buy for 2024 and beyond. Coca-Cola (NYSE: KO) is posting better operating trends and should deliver bigger dividend increases in the coming years. Here's why it deserves a higher spot in your dividend watch list than Home Depot.
Coke has Home Depot beat on the key growth metrics that investors like to watch. Its organic sales are on pace to rise by over 10% this fiscal year, for example, while Home Depot is calling for a modest decline in fiscal 2023.
Source Fool.com
