In a volatile economy, dividend stocks have always proven to be a safe play. These stable investments can offset losses and help you generate income over time. But picking the right dividend stock isn’t just about buying the ones that offer the highest yield. Very often, high dividend yield companies can make changes to the payout or stop dividends altogether. This is especially true in periods of economic uncertainty. In such cases, the dividend becomes a liability rather than an asset.
Hence, when buying dividend stocks to safeguard your portfolio, you need to invest in ones that offer a safe payout. These stocks are often recession-proof and remain steady even in a volatile economy. In addition to this, they also offer a steady cash flow to supplement your income. If you are looking for dividend stocks that show great growth potential and offer a safe payout, here are three top picks: Johnson & Johnson (NYSE:JNJ), Waste Management (NYSE:WM) and NextEra Energy (NYSE:NEE).
Source: InvestorPlace
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