Dividends4Life: 5 of the Safest High-Yield Dividend Stocks to Buy for 2024

Publicly traded companies that offer a regular dividend to their shareholders are almost always profitable on a recurring basis and time-tested. What's more, income stocks have left non-payers eating their dust. Between 1972 and 2012, companies initiating and growing their payouts generated an annualized return of 9.5%. That compares to a meager 1.6% annualized return for public companies that didn't offer a dividend between 1972 and 2012.

However, not all dividend stocks are cut from the same cloth. As we get ready to move into the new year, five exceptionally safe high-yield dividend stocks (those with yields of at least 4%) stand out as top buys. The first extremely safe high-yield dividend stock that's begging to be bought in 2024 is telecom company Verizon Communications (VZ). A second super safe high-yield dividend stock that's ripe for the picking as we get ready to turn the page to 2024 is retail real estate investment trust (REIT) Realty Income (O). The third safe high-yield dividend stock that makes for a genius buy in 2024 is pharmaceutical company Pfizer (PFE). Business development company (BDC) PennantPark Floating Rate Capital (PFLT), which also pays its dividend on a monthly basis, is a rock-solid income stock to buy for 2024. The last of the safest high-yield dividend stocks to buy for 2024 is none other than tobacco juggernaut Altria Group (MO).

Source: Motley Fool

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