A Once-in-a-Decade Opportunity: 1 Magnificent Dividend Stock Down 30% to Buy Right Now
Here's a simple way to think about General Mills (NYSE: GIS) right now: It makes the Cheerios in your pantry, the Pillsbury biscuits in your fridge, and the Blue Buffalo in your dog's bowl, yet its stock is priced as if people are about to stop buying all three. Shares closed at $34.60 on Nov. 10, about 30% below their 52-week high of $49.59 and about 32% lower than five years ago. At that price, the $2.44 yearly dividend works out to a dividend yield of about 7%, so every $1,000 invested pays roughly $70 a year. That's a lot of income from a company that has paid a dividend without interruption for 128 years, counting the business it grew out of. A record that long, at a price this low, is why I think this is the rare kind of setup worth acting on. Continue reading