3 Ultra-High-Yield Dividend Stocks Begging to Be Bought in October

One of the smartest moves investors can make right now is to buy dividend stocks. Companies that pay a regular dividend are often profitable and time tested. Even more importantly, income stocks have vastly outperformed nonpayers over long periods. Ideally, income investors want the highest yield possible with the least amount of risk. Unfortunately, studies have shown that risk and yield tend to correlate once you hit high-yield status (4% and over). However, this isn't the case with all high-yield stocks. These three ultra-high-yield stocks -- an arbitrary term I'm using to describe stocks with yields of 7% and over -- offer sustainable payouts and are begging to be bought by opportunistic income seekers in October.

The first supercharged dividend stock that's ripe for the picking amid heightened volatility is energy stock Enterprise Products Partners (EPD). Enterprise Products sports a roughly 8% yield and has increased its base annual payout for 24 consecutive years. A second ultra-high-yield income stock that's begging to be bought in October is cannabis-focused real estate investment trust (REIT) Innovative Industrial Properties (IIPR). Over the past five years, IIP, as Innovative Industrial Properties is more commonly known, has grown its quarterly payout by 1,100%. The third ultra-high-yield dividend stock begging to be bought in October is tobacco stock Altria Group (MO).

Source: Motley Fool

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