Bristol-Myers Squibb Keeps Dividend Yield Over 6%
- June 11, 2009
- Dividend News, Dividend Stocks, High Yield Dividend Stocks, Top Dividend Stocks
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Global pharmaceutical company Bristol-Myers Squibb (BMY: 31.99 -0.28%) announced late yesterday that its Board of Directors has approved a quarterly dividend of $.31 per share.
Bristol-Myers Squibb’s current high dividend yield now stands at an amazing 6.4%.
The dividend will be payable on August 3, 2009 to shareholders of record as of July 6, 2009.
The markets responded positively to news of the dividend announcement, sending BMY’s shares up 2.5% to $19.90 in mid-morning trading. Since the beginning of 2009, the stock has dropped over 14% due to a weak healthcare sector.
While Bristol-Myers Squibb continue to offer investors an incredibly high dividend yield of over 6%, the dividend level appears to be quite safe for the time being. Wall Street analysts expect BMY to earn $1.93 this year, while the company is only expected to pay out $1.24 per share in dividends. The 64% dividend payout ratio seems reasonable and so investors looking for high dividend yield stocks should find BMY to be very attractive right now.
