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Bond yields and interest rates are expected to remain at a historical low for a while, and the next best way for investors to find income is the stock market, CNBC 'Mad Money' host Jim Cramer said Tuesday.
“With my diversified dividend portfolio, you can get a 5% plus yield with the possibility of actual upside,” Cramer said. According to the former hedge fund manager, it’s still possible to get an income with a degree of safety in the current environment.
Cramer warned that investors should not chase high yielding stocks as more than 8% dividend yield resembles a red flag. “It tells you that there’s a lot of risk, and if you’re investing for income, risk is the last thing you want,” he added.
Dividends are like rewards that companies pay for holding a stock. Fast-growing companies like Amazon.com (NASDAQ: AMZN) and Tesla Inc (NASDAQ: TSLA) invest full profits back into the business for growth and expansion in lieu of a dividend payment, Cramer noted.
He put together a diversified portfolio of nine high-yielding dividend stocks that have a strong balance sheet.
Dow Inc (NYSE: DOW): It yields 5.02%. Cramer thinks the stock is a good performer and is likely to go higher due to polyethylene’s rising price.
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IBM (NYSE: IBM): It yields 5.17%. Though Cramer called IBM a controversial pick, he thinks that IBM’s Red Hat acquisition was smart, and the company is focusing on fast-growing future opportunities. IBM also named former Trump advisor Gary Cohn as vice-chairman recently.
AbbVie Inc (NYSE: ABBV): It yields 4.88%. The company has a great pipeline of drugs and two blockbuster drugs that are “growing like crazy,” as per Cramer.
B&G Foods, Inc. (NYSE: BGS): It yields 7.11%. The company has a steady cash flow. According to Cramer, with more people cooking during the lockdown, B&G brand foods are perfect for consumers.
Chevron Corporation (NYSE: CVX): It yields 5.93%. They have a strong balance sheet and Cramer thinks the company will do well under the Biden administration as it will be difficult to acquire new wells, making the existing ones more valuable.
Verizon Communications Inc. (NYSE: VZ): It yields 4.28%. Cramer called it a slow and steady grower.
In the utility stocks group, Cramer recommended American Electric Power Company Inc (NASDAQ: AEP) with 3.64% yield, Dominion Energy Inc (NYSE: D) with 3.45% yield, and Entergy Corporation (NYSE: ETR) with 3.93% yield.
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Cramer founded TheStreet in 1996 and writes daily market commentary for Real Money. In addition to hosting Mad Money with Jim Cramer on CNBC, he manages Action Alerts PLUS, an investing club that follows positions and trades of his charitable portfolio. Cramer graduated magna cum laude from Harvard, and after several years as a newspaper reporter, he returned to earn a law degree. Instead of practicing law, Cramer joined Goldamn Sachs and went on to manage his own hedge fund. He retired from active money management in 2000 to embrace media full time and has authored seven books on investing.
James 'Rev Shark' DePorre
DePorre is the founder and CEO of Shark Asset Management and the author of Invest Like a Shark: How a Deaf Guy With No Job and Limited Capital Made a Fortune Investing in the Stock Market. He also operates sharkinvesting.com, an interactive online community for active investors.
Kamich is TheStreet's in-house technical analyst with 40 years experience working with a number of bulge bracket firms, accumulating knowledge on commodities, interest rates, equities and ETFs along the way.
Kamich was one of the earliest Chartered Market Technicians (CMT). He is author of Chart Patterns and How Technical Analysis Works and is a two-time past president of the Market Technicians Association, the professional organization for chartists worldwide.
Boroden is a Commodity Trading Advisor and technical analyst who has been involved in the trading industry for over 25 years. Her background includes working on the major trading floors including the Chicago Mercantile Exchange, the CBOT, NYFE and COMEX, where she eventually shifted over to focusing on technical analysis of the markets.
Garner is an experienced futures and options broker with DeCarley Trading, a division of Zaner Group, in Las Vegas, Nevada. She is also the author of Higher Probability Commodity Trading; A Trader's First Book on Commodities; Currency Trading in the Forex and Futures Markets; and Commodity Options: Trading and Hedging Volatility in the World's Most Lucrative Market.
Her e-newsletters, The DeCarley Perspective and The Financial Futures Report have garnered a loyal following; she is also proactive in providing free trading education at DeCarleyTrading.com.
Guilfoyle earned his nickname serving as a sergeant in reserve components of the U.S. Marine Corps and U.S. Army while simultaneously working on Wall Street.
Guilfoyle is the founder and President of Sarge986 LLC, a family-run trading operation. An NYSE floor trader for over 30 years, Guilfoyle has served as the Chief Market Economist for Stuart Frankel & Co., the U.S. Economist for Meridian Equity Partners and as a Vice President in Block Trading and Investment Banking with Credit Suisse.