5 Best Innovative Stocks that Pay Dividends

2. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 73

An American biotech and pharmaceutical company, Pfizer Inc. (NYSE:PFE) developed a type of santonin for treating intestinal worms, which quickly gained popularity due to its effectiveness. One of the company’s founders Erhart, utilized his confectionary expertise and incorporated almond-toffee flavoring into the medicine, making it more enjoyable to consume. In addition to this, the company started producing citric acid at a time when popular drinks like Coca-Cola were gaining popularity, and citric acid was a key ingredient in these beverages. Citric acid quickly became Pfizer’s primary product and played a significant role in the company’s growth in the subsequent decades.

Pfizer Inc. (NYSE:PFE) has been raising its dividends consistently for the past 13 years, which makes it one of the best innovative stocks that pay dividends. It currently pays a quarterly dividend of $0.41 per share and has a dividend yield of 4.52%, as of July 14.

At the end of March 2023, 73 hedge funds tracked by Insider Monkey owned stakes in Pfizer Inc. (NYSE:PFE), worth collectively roughly $2.2 billion.

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