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Two noted fund managers have singled out three dividend stocks as potential sources of attractive yields and growth, offering a reliable stream of passive income.
What Happened: Portfolio managers Matt Burdett of Thornburg Investment and Brian Leonard from Keeley Teton shared their insights on potential dividend stocks in a recent interview with CNBC.
Burdett spotlighted Broadcom Inc (NASDAQ:AVGO), a semiconductor and software company, despite its current dividend yield of 1.6%. He highlighted the company’s significant dividend growth over the past five years and its potential to benefit from the artificial intelligence trend due to its software diversification.
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Another stock Burdett finds appealing is Orange (NYSE:ORAN), a French telecommunications company with a current dividend yield of 6.8%. He underscored the company’s increased operating free cash flow and potential for share buybacks following a recent merger despite a modest dividend growth of 2.9%.
Leonard, conversely, spotlighted WK Kellogg Co (NYSE:KLG), a spin-off from Kellogg Company, now known as Kellanova. Given its 3.1% dividend yield and lower valuation than its main competitor, he sees potential for WK Kellogg to improve its operating margins and benefit from earnings growth.
Why It Matters: These insights come when the stock market shows signs of potential correction despite ongoing rallies. According to a report from late February, the market showed signs of a potential 10% correction. However, another report in March suggested that the long-term bull rally could continue, with the S&P 500 potentially surging by 34% by the end of 2026.
Given these market conditions, the highlighted dividend stocks could offer investors a steady stream of passive income, even amidst potential market volatility.
Image Via Shutterstock
Benzinga Neuro, Edited by Kaustubh Bagalkote
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