Want $1,000 in Super-Safe Dividend Income? Buy $11,862 of This Ultra-High-Dividend Yield Stock
Investors love tobacco stocks because of their high dividend yields and growing dividend payouts. Long-term shareholders in these companies have made a fortune by simply holding and watching the dividend payments pile up in their accounts.
Today, Altria Group (NYSE: MO) has a dividend yield of 8.43%. The United States-focused tobacco giant can generate $1,000 in annual dividend income for investors who buy $11,862 worth of stock right now. But is this dividend sustainable? Is Altria Group a safe dividend stock today?
I think it is. Here's why Altria Group is a smart play for investors looking to build a diversified dividend income portfolio.
Source Fool.com
