How Safe is Seagate Technology’s 5.2%-Yielding Dividend?
Seagate Technology (NASDAQ: STX) stock has shed about a fifth of its value this year as the novel coronavirus (COVID-19) pandemic slammed the broader markets. Investors also likely wondered if the abrupt slowdown would throttle the hard drive maker's growth and put its forward dividend yield of 5.2% at risk.
I once called Seagate an undervalued dividend stock, but that was before the pandemic turned the markets upside down. Let's take a fresh look at Seagate's core business and dividend to see if it's still a smart income investment in a volatile market.
Image source: Getty Images.
Source Fool.com
