5 Recession-Proof Dividend Stocks to Bolster Your Portfolio
High inflation, the war in Ukraine and a pandemic that won’t end have all taken a toll on financial markets.
With that said, here are five recession-proof Dividend Stocks for investors looking to protect their portfolios.
1. Bristol-Myers Squibb (NYSE: BMY)
One of the largest pharmaceutical companies in the world, Bristol-Myers Squibb (NYSE: BMY), recently posted positive Q1 2022 financial results. The company’s $1.96 EPS blew away analysts’ expectations of $0.07. Bristol-Myers posted $11.6 billion in revenue, up 4.8% YoY. The company has been raising its dividends for 16 years, including in 2021 when they raised the dividend by 10%; the dividend yield is currently 2.87%.
Shares of Bristol-Myers are currently changing hands at $75.10 per share, down -0.46% on the day. YTD BMY stock is up +21.36%.
Learn more about Bristol-Myers: Website | Investor Deck | BMY Chart
2. Williams-Sonoma (NYSE: WSM)
California-based home goods purveyor Williams-Sonoma (NYSE: WSM) is another attractive option for dividend investors. The company’s EPS of $5.42 beat analysts’ expectations of $4.82, while their Q1 revenue grew 9.2% YoY to $2.5 billion. Williams-Sonoma’s current dividend of $0.78 per share was raised by 10% in March, the 16th year in a row that the company raised the dividend. The company’s five-year dividend CAGR stands at 11.9%, one of the highest growth rates in the market.
Shares of Williams-Sonoma are currently trading at $125.00 per share, down -2.28% on the day. YTD, BMY stock is down -25.98%.
Learn more about Williams-Sonoma: Website | Investor Deck | WSM Chart
3. UGI Corporation (NYSE: UGI)
One of the few energy companies down YTD, UGI Corporation (NYSE: UGI), specializes in natural gas and other fossil fuels. UGI’s own AmeriGas, the nation’s leading purveyor of propane. The company has been consistently paying dividends for most of its 140-year existence, including 35 straight years of raising the dividend. UGI’s most recent raise of 4.3% took their dividend yield to 3.37%.
Shares of UGI Corporation last traded at $43.15 per share, up +0.96% on the day. YTD UGI stock is down -5.48%.
Learn more about UGI Corporation: Website | Investor Deck | UGI Chart
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With their hands in everything from office supplies to healthcare equipment, 3M Company (NYSE: MMM) is one of the most recognizable companies in the world. The company has struggled with supply chain issues during COVID-19, but that has not stopped them from raising its dividend for the 63rd consecutive year. 3M’s 5.38% five-year dividend CAGR, given the significant headwinds they faced over multiple years, demonstrates the underlying strength of the company. At $1.49 per share, the dividend yield stands at a juicy 4%.
3M Company last traded at $147.11 per share, down -1.46% on the day. YTD MMM stock is down -17.23%.
Learn more about 3M Company: Website | Investor Deck | MMM Chart
5. Leggett & Platt (NYSE: LEG)
A producer of home and automobile parts, Leggett & Platt (NYSE: LEG) is not widely known among the general public, but it’s very well known among investors. The company recently posted EPS of $0.79 beat the consensus of $0.23; they’ve grown EPS by 14% annually from 2009 to 2019. Leggett & Platt’s dividend recently received a 5% increase to $0.44 per share, good for a 4.42% yield; this was the 51st consecutive annual raise. The company’s dividend CAGR of 7% since 1999, through multiple downturns in the market, shows that the company can weather the storm and come out better on the other side.
Shares of Leggett & Platt are currently trading at $38.84 per share, down -0.84% on the day. YTD UGI stock is down -5.82%.
Learn more about Leggett & Platt: Website | Investor Deck | LEG Chart
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Disclaimer: Wealthy VC does not hold a position in any of the stocks mentioned in this article.
