10 Best October Dividend Stocks To Buy

Published on October 5, 2023 at 11:19 am by Vardah Gill in Dividend Stocks, Hedge Funds, News

In this article, we discuss 10 best October dividend stocks to buy now. You can skip our detailed analysis of dividend stocks and the dividend capture strategy, and go directly to read 5 Best October Dividend Stocks To Buy.

Dividend payments around the world have been growing significantly because investors are increasingly interested in income-generating assets. This strong reputation of dividend stocks didn’t happen overnight; it’s based on historical data that demonstrates how these stocks have consistently performed better than other types of investments over the years. Companies that regularly increase their dividends are particularly attractive in this scenario. They are considered real winners because they not only garner appreciation from investors but also thrive in changing market conditions. According to a report by Morgan Stanley, dividends are a crucial investment for long-term investors. Stocks with high dividends typically do well when inflation is higher than usual but on a downward trend. These stocks are also considered safe and become even more appealing during uncertain economic times because they provide stability and reliable income.

As mentioned above, global dividends have experienced significant growth this year. China’s largest companies have paid out 1.5 trillion yuan ($206 billion) in dividends this year, which has already exceeded the 1.27 trillion yuan paid out in 2022, according to a report by Bloomberg. The major contributors to this increase are the largest state-owned banks, with PetroChina and Kweichow Moutai following closely behind. Similarly, Janus Henderson reported that 98% of US companies either increased their dividends or maintained them at the same level in the second quarter of 2023. This percentage is significantly higher than the global average.

Dividend investing can be a sound strategy for long-term investors. Holding onto stocks with consistently increasing dividends can lead to higher yields on original investment over time. Regular dividend hikes often contribute to an increase in the stock’s share price. According to a recent report by T. Rowe Price, between the end of 1985 to the close of 2022, dividend growers in the Russell 1000 Index performed better than the broader benchmark index. Furthermore, these dividend-growing stocks showed lower levels of price fluctuations or volatility. Some of the best dividend stocks in this regard are The Procter & Gamble Company (NYSE:PG), Colgate-Palmolive Company (NYSE:CL), and PepsiCo, Inc. (NASDAQ:PEP) as these firms have consistently increased their dividend payments for many years.

In addition to long-term investors, dividend investing can be appealing to some short-term investors through a dividend capture strategy. It involves purchasing a stock just before it goes ex-dividend and then selling it shortly thereafter, typically after the dividend is received. This strategy aims to capture the dividend income while minimizing exposure to the stock’s price fluctuations. To learn more about this investment approach, have a look at our article Dividend Capture Strategy Stocks To Buy.

Our Methodology:

This list outlines the dividend capture strategy for selecting prominent dividend stocks that will trade ex-dividend in October 2023. The ex-dividend date is the last day for purchasing a stock to be eligible for the upcoming dividend. The list is organized by date, with earlier ex-dividend dates listed first, and later dates following in sequence.

10. American Express Company (NYSE:AXP)

Ex-Dividend Date: October 5

American Express Company (NYSE:AXP) is a multinational financial services corporation known for its range of payment, financial, and travel-related services. The company is primarily known for its credit and charge card products.

In the second quarter of 2023, American Express Company (NYSE:AXP) reported revenue of $15.05 billion, which showed a 12.3% growth from the same period last year. The company’s net income for the quarter amounted to over $2.1 billion, compared with $1.9 billion in the prior-year period.

American Express Company (NYSE:AXP) is one of the best dividend stocks on our list as the company has paid regular dividends to shareholders since 1989. The company currently pays a quarterly dividend of $0.60 per share and has a dividend yield of 1.64%, as of October 4. In addition to AXP, investors are also paying attention to dividend growers such as The Procter & Gamble Company (NYSE:PG), Colgate-Palmolive Company (NYSE:CL), and PepsiCo, Inc. (NASDAQ:PEP).

At the end of Q2 2023, 73 hedge funds in Insider Monkey’s database reported having stakes in American Express Company (NYSE:AXP), compared with 77 in the previous quarter. The collective value of these stakes is over $28 billion. With roughly 152 million shares, Berkshire Hathaway was the company’s leading stakeholder in Q2.

9. Roper Technologies, Inc. (NASDAQ:ROP)

Ex-Dividend Date: October 6

Roper Technologies, Inc. (NASDAQ:ROP) is an American diversified tech company that operates in several industries, providing a wide range of engineered products and solutions. On September 27, the company declared a quarterly dividend of $0.6825 per share, which was in line with its previous dividend. It has been raising its dividends consistently for the past 31 years, which makes it one of the best dividend stocks on our list. The stock will be going ex-dividend on October 6.

Roper Technologies, Inc. (NASDAQ:ROP) generated $1.5 billion in revenues in the second quarter of 2023, up 16.8% from the same period last year. The company’s operating cash flow for the quarter came in at $320 million and its free cash flow amounted to $295 million, up 20% and 17% year-over-year, respectively.

As of the close of Q2 2023, 41 hedge funds in Insider Monkey’s database reported having stakes in Roper Technologies, Inc. (NASDAQ:ROP), compared with 42 in the previous quarter. The consolidated value of these stakes is over $2.38 billion.

8. AT&T Inc. (NYSE:T)

Ex-Dividend Date: October 9

AT&T Inc. (NYSE:T) is a diversified telecommunications and media conglomerate that provides a wide range of services to consumers, businesses, and institutions. The company’s revenue for the second quarter of 2023 stood at roughly $30 billion, which saw a 0.9% growth from the same period last year. It ended the quarter with over $9.5 billion available in cash and cash equivalents, compared with $3.7 billion at the end of December 2022.

AT&T Inc. (NYSE:T) is trading ex-dividend on October 9. The company offers a quarterly dividend of $0.2775 per share and has a dividend yield of 7.58%, as of October 4. It is among the best dividend stocks on our list.

At the end of June 2023, 56 hedge funds tracked by Insider Monkey owned stakes in AT&T Inc. (NYSE:T), down slightly from 58 in the previous quarter. The total value of these stakes is over $1.4 billion. With over 14 million shares, D E Shaw was the company’s largest stakeholder in Q2.

7. McCormick & Company, Incorporated (NYSE:MKC)

Ex-Dividend Date: October 9

McCormick & Company, Incorporated (NYSE:MKC) is an American food company that specializes in the manufacturing, marketing, and distribution of spices, seasonings, flavorings, and other food products. On September 29, the company declared a quarterly dividend of $0.39 per share, which was consistent with its previous dividend. Its dividend growth streak currently stands at 37 years, which makes it one of the best dividend stocks on our list. The stock’s dividend yield on October 4 came in at 2.28%.

In its recently announced third-quarter earnings, McCormick & Company, Incorporated (NYSE:MKC) posted revenue of $1.68 billion, up 5.7% from the same period last year. The company’s operating cash flow for the quarter amounted to over $660 million, compared with $250 million in the year-ago period.

The number of hedge funds tracked by Insider Monkey owning stakes in McCormick & Company, Incorporated (NYSE:MKC) grew to 35 in Q2 2023, from 27 in the previous quarter. The collective value of these stakes is over $1.84 billion. Among these hedge funds, Ken Griffin, Israel Englander, and Terry Smith were some of the company’s most prominent stakeholders in Q2.

6. Accenture plc (NYSE:ACN)

Ex-Dividend Date: October 11

Accenture plc (NYSE:ACN) is a global professional services company that offers a wide range of consulting, technology, digital, and outsourcing services to businesses and organizations worldwide. The stock will be going ex-dividend on October 11 and is one of the best dividend stocks on our list.

On September 28, Accenture plc (NYSE:ACN) declared a 15.2% hike in its quarterly dividend to $1.29 per share. The company has been growing its dividends consistently since 2019, which makes it one of the best dividend stocks on our list. The stock has a dividend yield of 1.67%, as of October 4. The Procter & Gamble Company (NYSE:PG), Colgate-Palmolive Company (NYSE:CL), and PepsiCo, Inc. (NASDAQ:PEP) are some other dividend stocks grabbing investors’ attention.

Insider Monkey’s database of Q2 2023 indicated that 56 hedge funds owned investments in Accenture plc (NYSE:ACN), compared with 60 in the previous quarter. The consolidated value of these stakes is over $2.12 billion.

ClearBridge Investments mentioned Accenture plc (NYSE:ACN) in its Q2 2023 investor letter. Here is what the firm has to say:

“While the ClearBridge Multi Cap Growth Strategy has limited mega cap exposure, which has been a recent headwind to relative performance, we own several companies that stand to benefit from the explosive growth in generative AI. These holdings play key roles in building out the necessary infrastructure and helping customers leverage capabilities enabled by this emerging technology

Accenture plc (NYSE:ACN), a business and IT services consultant, will be instrumental in helping enterprises reinvent and modernize their IT architecture for AI. The company recently announced a $3 billion investment, which includes doubling their data and AI workforce to 80,000 to address this growing opportunity.”

Click to continue reading and see 5 Best October Dividend Stocks To Buy.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on October 30, 2024 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 70%.

For a ridiculously low price of just $29, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on this Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

• 11 New Issues of Our Premium Readership Newsletter: You will also receive 11 new issues and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Reports: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• 30-Day Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $29.

2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a year later!

A New Dawn is Coming to U.S. Stocks

Published on November 16, 2024 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up