Dow Jones, S&P 500 swing wildly, finish Friday slightly lower after House GOP withdraws Obamacare repeal bill

Top 10 Dow Dividend Stocks for October

You can find plenty of reliable income in venerable blue chips

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#8: Johnson & Johnson

Johnson & Johnson (NYSE:JNJ)Current Dividend Yield: 3.4%
Performance So Far in 2012: +10%

Johnson & Johnson (NYSE:JNJ) just reported earnings that were better than expected, though profit indeed dropped. Still, beating expectations was enough to lift JNJ shares, which have rallied 6% in five days thanks to a strong report.

But this is a dividend stock list, so investors looking for yield should pay attention to some other important news — namely, that J&J has raised distributions for 50 years in a row and has a 10-year dividend growth rate of 12.4% per year — making it one of the most reliable payers on Wall Street and one of InvestorPlace‘s Dependable Dividend Stocks. In July, JNJ pushed its payout to 61 cents a share — almost triple the 20.5 cents quarterly it paid back in 2003.

Of course, J&J has hit some headwinds thanks to quality control issues, product recalls and questions about management. But a new Johnson & Johnson CEO at the helm is hoping to change all that in the months ahead.

A plus while you wait for a corporate turnaround is the nice 3.4% dividend yield. And unlike some Big Pharma stocks that pay nice yields but might be gutted by patent expirations, JNJ consumer health offerings like Band-Aid and Tylenol provide its steadiest revenue stream beyond vaccines and prescription medical products.


Article printed from InvestorPlace Media, http://investorplace.com/2012/10/top-10-dow-dividend-stocks-for-october/.

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