#6: Procter & Gamble
Current Dividend Yield: 3.5%
Performance So Far in 2012: -3%
Procter & Gamble (NYSE:PG) recently made our list of 10 dividend stocks left behind in 2012. In April, P&G earnings showed a disappointing outlook for the rest of the year and Aug. 3 numbers likely will reflect that continued gloominess.
But Procter & Gamble CEO Bob McDonald is looking overseas to prop up the balance sheet amid rising commodity costs, frugal U.S. consumers and performance that lags rivals like Colgate-Palmolive (NYSE:CL). And let’s face it: Even though the consumer products giant is slightly down, it is hardly out. P&G is going nowhere thanks to brands like Gillette, Pampers and Duracell that provide reliable revenue across rough economic times — and thus reliable dividend payments, too.
Yes, PG stock hasn’t seen much growth, and that is a concern. But you can’t get more defensive than consumer staples, so dividend investors might want to turn to Procter & Gamble anyway as the market continues to muddle through summer.