Bristol-Myers Squibb Company (NYSE:BMY) is included among the 10 Best Recession Proof Dividend Stocks to Buy.
Bristol-Myers Squibb Company is an American multinational pharmaceutical company. It concentrates primarily on branded pharmaceuticals, a sector known for high entry barriers and strong profitability. Developing breakthrough drugs requires billions in investment and years of research, with relatively few candidates making it to market.
However, those that succeed can deliver billions in revenue, supported by long-lasting patent protection that shields them from competition. Because medications remain essential regardless of economic conditions, they are considered recession-resistant. This resilience helped Bristol-Myers Squibb Company’s stock decline only 32% during the 2007–09 financial crisis, compared with a drop of more than 50% for the broader market.
Bristol-Myers Squibb Company is also a strong dividend company. Currently, it pays a quarterly dividend of $0.62 per share and has a dividend yield of 5.62%, as of September 26. The company has raised its payouts for 16 years in a row.
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