This company runs an extremely profitable business, and pays generous dividends with a yield more than five times the S&P 500’s average. Investors who want to lock in this yield need to act quick, because the next distribution date is November 1. A Double-Digit Yielder You Likely Haven’t Considered...
The company responsible for paying these oversized dividends is Waddell & Reed Financial, Inc. (NYSE:WDR). Headquartered in Overland Park, Kansas, Waddell & Reed is in the asset management and financial planning business. You may not have considered WDR stock directly, but you might have seen some of its products when you were visiting your financial advisor. This is because Waddell & Reed and its subsidiaries offer a wide range of investment products, including Waddell & Reed Advisors Group of Mutual Funds, Ivy Funds, Ivy NextShares, Ivy Variable Insurance Portfolios, and InvestEd Portfolios.
Source: Income Investors
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