Is Bristol Myers Squibb a Top Dividend Stock?
Bristol Myers Squibb (BMS) (NYSE: BMY), a multinational pharmaceutical company, has all the hallmarks of a top-shelf dividend stock. The company has boosted its dividend for 14 consecutive years, has paid a dividend for 91 straight years, and offers a highly attractive yield of 3.57% at current levels.
These top-line metrics, however, don't tell the full story. BMS is a company in transition. This November, the company's longtime Chief Executive Officer Giovanni Caforio plans to step down, making way for Chief Commercialization Officer Chris Boerner to take the reigns as the pharma-giant's new leader.
Moreover, BMS is in the midst of a volatile portfolio reset. Specifically, the company is bracing for the impact of several major patent expirations this decade for cornerstone growth drivers like Revlimid, Opdivo, and Eliquis.
Source Fool.com
