8 Cash-Rich Dividend Stocks To Invest In Now

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

Operating Cash Flow (TTM): $15 billion

Bristol-Myers Squibb Company (NYSE:BMY) is a multinational pharmaceutical company. It has been attracting investors’ attention with its consistent innovation and product launches. Since 2019, the company has introduced several new medications and continues to make notable advancements. In September this year, the US Food and Drug Administration approved Cobenfy, a treatment for schizophrenia. While this approval is not recent, Bristol Myers’ shares have recently risen thanks to positive updates surrounding Cobenfy. The stock has surged by nearly 6% since the start of 2024.

Bristol-Myers Squibb Company (NYSE:BMY) reported nearly $12 billion in revenue in the third quarter of 2024, marking an 8.5% increase from the same period last year. This strong performance was driven by higher sales from its expanding oncology portfolio and efficient operational management. The results highlighted the company’s ability to navigate competitive pressures while achieving significant revenue growth. By the end of the quarter, the company had approximately $8 billion in cash and cash equivalents.

Bristol-Myers Squibb Company (NYSE:BMY) is a solid dividend payer, having increased its payouts for 18 consecutive years. With strong cash reserves, the company has the flexibility to increase its payouts in the future. Over the trailing twelve months, its operating cash flow totaled $15 billion, and its levered free cash flow amounted to $17.52 billion. The company pays a quarterly dividend of $0.60 per share and has a dividend yield of 4.44%, as of December 16.

The number of hedge funds tracked by Insider Monkey holding stakes in Bristol-Myers Squibb Company (NYSE:BMY) grew to 70 in Q3 2024, from 61 in the previous quarter. These stakes have a collective value of more than $3.3 billion.