Bristol-Myers Squibb Company (NYSE:BMY) is included among the 15 Best Boring Dividend Stocks to Buy.
Bayer reported positive Phase 3 results for its FXIa inhibitor asundexian, hitting key efficacy and safety targets and drawing renewed attention to the broader FXIa drug class. Morgan Stanley noted this could increase interest in similar treatments from Bristol-Myers Squibb Company and Johnson & Johnson, though it remains cautious on BMY despite early stock gains.
Bristol-Myers Squibb Company is not seeing significant growth, but it remains a profitable business. Its payout ratio is around 84%, which is somewhat high for a dividend stock but still considered sustainable. Over the past 12 months, the company generated $15.3 billion in free cash flow, well above the $5 billion it paid in dividends, suggesting the payout is safe for now.
Investors may still be concerned about the long-term dividend because Bristol-Myers Squibb Company has $32 billion in net debt. While this is down from $38.5 billion at the start of the year, it is still a substantial burden that could affect dividend safety in the future.
Bristol-Myers Squibb Company is a biopharmaceutical company that discovers, develops, and manufactures innovative treatments for serious diseases in areas such as oncology, immunology, and cardiovascular conditions.
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