5 Safe Dividend Stocks to Buy Before 2023

In this article, we discuss 5 safe dividend stocks to buy before 2023. If you want to read our detailed analysis of dividend investing and analysts’ views of dividend stocks, go directly to read 10 Safe Dividend Stocks to Buy Before 2023. 

5. Colgate-Palmolive Company (NYSE:CL)

Dividend Yield as of August 3: 2.33%

Colgate-Palmolive Company (NYSE:CL) is a New York-based multinational consumer products company that specializes in the production and distribution of household, healthcare, and personal care products.

At the end of Q2 2022, Colgate-Palmolive Company (NYSE:CL) reported $858 million in cash and cash equivalents, up from $832 million at the end of December 2021. The company’s operating cash flow came in at $528 million, compared with $386 million in the previous quarter. It generated $350 million in free cash flow during the quarter, up from $264 million at the end of March. Colgate-Palmolive Company (NYSE:CL) pays a quarterly dividend of $0.47 per share, with a dividend yield of 2.33%, as of August 3. The company maintains a 60-year track record of consistent dividend growth.

In August, Wells Fargo upgraded Colgate-Palmolive Company (NYSE:CL) to Equal Weight as the company showed strong financials in Q2 and has the potential to improve its profits.

At the end of Q1 2022, 50 hedge funds in Insider Monkey’s database owned stakes in Colgate-Palmolive Company (NYSE:CL), up from 48 a quarter earlier. These stakes hold a value of nearly $2.6 billion. With over 11.2 million shares, First Eagle Investment Management was the company’s leading stakeholder in Q1 2022.