4 Reasons This Passive Income Stock Is No. 1 on My Buy List
When investors think about passive income, the focus is often on high yield. That's fine, but you should also opportunistically add in some dividend growth stocks if you want to keep up with the ravages of inflation. On that score, one of my favorite dividend growth stocks today is Hormel Foods (NYSE: HRL). Here are four reasons why.
Hormel is a consumer staples company that sells branded food products. Its dividend yield today is around 2.6%. Some dividend investors would instantly snub the stock on the grounds that the yield is too low on an absolute level. After all, you could probably buy a CD with a yield of around 5%! But that would be shortsighted.
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Source Fool.com
