12 Incredibly Cheap Dividend Stocks to Buy Now

8. Bristol-Myers Squibb Company (NYSE:BMY)

Forward P/E Ratio as of March 14: 8.92

Bristol-Myers Squibb Company (NYSE:BMY) is an American pharmaceutical industry company that offers a wide range of related services and products to its consumers. The company is a major player in the pharmaceutical industry, boasting a broad portfolio of medications, with more than six generating over $1 billion in annual sales. While it has a strong presence in the oncology market, its product lineup also includes treatments for immunology and rare diseases.

Several of Bristol-Myers Squibb Company (NYSE:BMY)’s older drugs continue to perform well, including the anticoagulant Eliquis, which saw an 11% year-over-year sales increase, reaching $3 billion for the period. At the same time, the company’s newer treatments are gradually making a bigger impact on its financial performance. One of the most promising is Reblozyl, a treatment for anemia in patients with beta-thalassemia. Originally approved in the US in 2019, the drug is expected to be a key driver of revenue growth for years to come.

In the fourth quarter of 2024, Bristol-Myers Squibb Company (NYSE:BMY) reported $12.34 billion in revenue, marking a 7.5% increase from the previous year. The company’s Growth Portfolio was a standout, with revenue rising 21% to $6.4 billion, fueled by strong demand for key treatments. Sales of Reblozyl, Breyanzi, and Camzyos saw impressive growth, jumping 71%, 125%, and 101%, respectively.

Bristol-Myers Squibb Company (NYSE:BMY) offers a quarterly dividend of $0.62 per share for a dividend yield of 4.20%, as of March 14. The company has a strong track record as a dividend-paying company, having increased its payouts for 16 consecutive years. In addition, it has consistently paid dividends to shareholders for an impressive 93 years, which makes it one of the best dividend stocks on our list. This steady dividend growth is supported by the company’s solid financial position, with more than $10.3 billion in cash and cash equivalents at the end of the year.