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Two dividend stocks that could be interesting [ClearOnMoney]
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Two dividend stocks that could be interesting

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Commentary

Two dividend stocks that could be interesting

7 Jan 2011 by Jim Fickett.

Two inexpensive dividend stocks in industries with good prospects are Philip Morris and Medtronic. Both of these are worthy of further investigation.

I continue to be on the lookout for fairly valued dividend stocks. The market as a whole is quite overvalued; it is important to buy at a fair price so that if there is a large correction one's holdings will bounce back.

Morningstar maintains a list of fund managers who have done well, and in a recent article gathered all dividend stocks satisfying three conditions:

  • each is held by at least five of these star fund managers
  • each pays more than 2.3% (the S&P average)
  • each company has sufficient free cash flow that the dividend is unlikely to be in danger in a bad year

The resulting list is Eli Lilly, Bristol-Myers Squibb, Pfizer, Philip Morris, Merck, Diageo, Kraft, Abbott Labs, Sysco, and Johnson & Johnson. I already own J&J. Of the rest the one I find most interesting is Philip Morris. Tobacco does well in good times and bad; I'm a big believer in individual responsibility and have no problem with so-called “sin stocks”; the P/E is a reasonable 15; and the dividend is 4.4%.

Two investors I keep an eye on, Eddy Elfenbein and Matt the ”Dividend Monk” both recommend Medtronic, a large medical device manufacturer. It is hard not to believe that medical devices will continue to be a good business, especially as the middle class grows in China, India, and Brazil; the P/E is a low 13; and the dividend is 2.4%.

Both of these go on my short list for further investigation.