My Top Dividend Stock to Buy in the September Sell-Off
The September sell-off is proving formidable so far, with the S&P 500 falling nine out of 13 trading days through Monday's close for a quick 4% dip from its recent all-time high. Fears regarding the delta variant, the Federal Reserve's potential tapering of its bond purchases, and now problems in the Chinese real estate market have made investors quite sensitive.
But with declining prices also comes opportunity. Smart investors are currently scanning the market to see what they can grab at a discount. For those investors who love passive income and strong dividend yields, I would highly recommend taking a look at one of the largest banks in the U.S., Citigroup (NYSE: C). Here's why.
Since the Great Recession, Citigroup has generated lackluster returns compared to its big-bank peers: JPMorgan Chase, Bank of America, and even troubled Wells Fargo. Citigroup never really recovered from the financial crisis and has also been facing regulatory issues, which culminated last year with a $400 million civil penalty order and a cease-and-desist order from regulators.
Source Fool.com
