10 Defensive Dividend Stocks To Buy During Market Sell Off

3. Philip Morris International Inc. (NYSE:PM)

Philip Morris International Inc. is a tobacco company that provides smoke-free products and cigarettes. The company also offers healthcare and wellness products. Its stock offers an attractive dividend yield of 3.56%.

Philip Morris is among the few companies that provide investors with both strong growth and consistent cash flows. The company’s management is focused on generating strong returns for shareholders over the last decade. It offered total returns of 107% to investors in the past five years, compared to the S&P 500’s returns of 101.9%. While this may not seem significant, the peace of mind associated with this investment is worth it.

The company posted a robust performance in FQ424, surpassing expectations with a revenue growth of 7.3% year-over-year. As a result of the solid earnings, the company’s stock surged. Ongoing developments and the attractive guidance for FY2025 make it a rewarding investment opportunity for investors.

Analysts are also optimistic about the company as tobacco and smoking product prices went up by 6.6% in February. Relaxation in some regulations is also seen as a catalyst for sector growth. Analysts believe that the company will benefit from all these favorable circumstances and the next bull run could be around the corner.