Published on 31 May 2024 on Insider Monkey via Yahoo Finance

Is Altria Group Inc. (NYSE:MO) The Best High-Yield Dividend Growth Stock to Buy Now?

We recently published a list of the 9 best high-yield dividend growth stocks to buy according to hedge funds. Since Altria is part of the list, the stock needs a deeper look. But first, let's take a look at why analysts believe investing in dividend stocks would make sense in 2024, especially when rates are expected to remain high.

Dividend stocks almost never go out of fashion thanks to the allure of steady payment checks and hedge against uncertainty these equities provide, especially during troubled times. A latest report from Wisdom Tree cited data from American economist Robert J. Shiller, who calculated in a research paper that since 1957, dividends on average grew by 5.7% per year, easily surpassing the 2% inflation rate every year. Over the past 64 years, dividends fell only during six years, while stock prices declined in 18 years during the same period.