Even for dividend stock investors May was mostly a tough time. Stocks fell about 3.5% in the first three weeks of the month. The final week of May saw some bargain buying, but then June 1, stocks got slammed with a big 2%-plus sell off nearly across the board. The decidedly downbeat mood in the market has many income-oriented investors simply ignoring the price of their stocks, and choosing just to focus on the fact that they’re still getting a dividend.
Many investors are still desperately clinging to traditional dividend names that have struggled mightily in terms of share price, but yet still pay a respectable dividend. Well, I say it’s time to jettison some of those dead-end dividend stocks, and to rotate your capital into higher yielding stocks with much more upside potential. Here are five dividend plays to dump now: Pfizer (NYSE: PFE), General Electric (NYSE: GE), Hewlett-Packard (NYSE: HPQ), Gap Inc. (NYSE: GPS) and Xerox (NYSE: XRX).
Source: InvestorPlace
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