Below you can see our list of the 5 best dividend stocks to buy for passive income. For a more comprehensive list please visit 10 best dividend stocks for passive income.
5 – Sysco Corp. (NYSE: SYY)
Sysco is the global leader in selling, marketing and distribution of food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepares meals away from home. As it is expected, due to Covid-19 the company’s sales and revenues took a dive. In the financial statements following note takes place: “The COVID-19 pandemic is more widespread and longer in duration than historical disasters impacting our business, and it is possible that actual uncollectible amounts will differ, and additional charges may be required.” When this problem addressed, I do expect a recovery.
Now that we have 3 different vaccine candidates showing at least 70% efficacy, it is time to get back in recovery stocks like Sysco. The company has a 2.57% dividend yield and it increase its dividend from $0.39 to $0.45 last year. The company may not be able to increase its dividend at the same rate next year, but analysts are optimistic about 2022. When it comes to the number of hedge funds, there are 33 managers who were invested in this stock at the end of September.