Dividend Achievers List: Top 15

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

Dividend Yield as of September 22: 4.86%

Bristol-Myers Squibb Company (NYSE:BMY) is an American pharmaceutical industry company that offers innovative medicines and therapies to patients with serious illnesses. Earlier this year, the company completed a $14 billion acquisition of Karuna Therapeutics, along with its experimental psychosis treatment, KarXT. However, the stock declined after the company recorded a $12.9 billion charge for in-process research and development in the first quarter, related to this acquisition. Since the start of 2024, BMY has fallen by over 5%.

That said, Bristol-Myers Squibb Company (NYSE:BMY) continues to have strong growth potential. In Q2 2024, the company reported $12.2 billion in revenue, reflecting a 9% increase compared to the same period last year. Its Growth and Legacy portfolios contributed to a 13% year-over-year rise in US revenue, reaching $8.8 billion. The company’s development pipeline includes five experimental drugs in late-stage clinical trials. With multiple growth drivers on the horizon and several already in the commercial phase, BMY is well-positioned to maintain consistent cash flow.

The company’s robust cash flow has been a key factor in supporting its solid dividend track record. Bristol-Myers Squibb Company (NYSE:BMY) has a trailing twelve-month operating cash flow of $14.1 billion and its levered free cash flow came in at $15.7 billion. The company holds an 18-year streak of consistent dividend growth, which makes BMY one of the best stocks on our dividend achievers’ list. It currently offers a quarterly dividend of $0.60 per share and has a dividend yield of 4.86%, as of September 22.

At the end of Q2 2024, 61 hedge funds tracked by Insider Monkey held stakes in Bristol-Myers Squibb Company (NYSE:BMY), up from 57 in the previous quarter. These stakes have a total value of more than $2.5 billion.