Readers may want to do a stock valuation on the stocks in their favorite sectors and wait patiently until they become cheap. Patience is a virtue! It’s best to cast a wide net by finding as many stocks as possible that could potentially become the best cheap dividend stocks. Then keep an eye on your stocks until you’re ready to buy. In the meantime, here are a few stocks to consider.
Merck (NYSE: MRK): Merck is one of the largest drug companies in the U.S. Merck’s drugs treat cancer, HPV and animal health. The company also has many drugs awaiting approval. Merck has grown sales and earnings per share over the last several years. In addition, it has a P/E ratio of just over 16x. The stock pays a healthy dividend yield of about 3.26%. The Home Depot (NYSE: HD): Home Depot is one of the leading home improvement chains in the US. Customers range from DIY folks to construction crews. Though the stock rose dramatically during COVID-19 stay-at-home restrictions, the stock has pulled back so far in 2022. Currently, the stock pays a dividend yield of about 2.5%, and it has a P/E ratio of less than 20x.
Source: Investment U
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