Investor Kevin Simpson doesn't just look for names with high payouts. Here's his strategy and some of his top picks.
Stock market volatility may have some investors looking for dividend stocks to provide some cushioning. On Wednesday , the Dow Jones Industrial Average sank nearly 500 points, or 1.2%, after inflation data came in hotter than expected and likely pushed back Federal Reserve rate cuts. Both the S & P 500 and Nasdaq Composite slipped 1%. For Kevin Simpson, founder and chief investment officer of Capital Wealth Planning, dividend investing has long been part of his firm's strategy.
JPMorgan Chase has a five-year compound annual dividend growth rate of 10.3%, Simpson said. It also has a forward price-earnings ratio of 12, he said. The financial giant, which has a dividend yield of 2.4%, is set to report quarterly earnings on Friday and Simpson expects the numbers to be good. The bank generated nearly $50 billion of profit in 2023, up about 38% from the previous year. Shares are up more than 14% year to date.
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