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Dividend Stocks have outperformed the broad market by 222% over the past 60 years and have proven to be some of the best investments during a recession.
That’s why we have isolated the top 3 dividend stocks to create lucrative passive income, even during the worst recessions.
Here they are…
Stock #1: Magellan Midstream Partners (MMP)
Dividend Yield: 8.2%
52-Week Range: $44.79 – $54.40
Magellan Midstream Partners (NYSE:MMP) is a master limited partnership (MLP) that operates pipelines and storage terminals in the U.S. Its portfolio of assets includes the longest pipeline system of refined products stateside as well as several crude oil pipelines.
This MLP mainly operates a fee-based business. Midstream assets that handle refined products account for roughly 75% of its business.
On May 5, Magellan released Q1 results. Revenue increased 7% YOY to $674.7 million. Net income declined to 78 cents per diluted share, down from 99 cents a year ago. The MLP generated a free cash flow of $239.5 million during the quarter.
Stock #2: AT&T (T)
Dividend Yield: 6.0%
52-Week Range: $14.46 – $21.53
The next stock on our list is AT&T (NYSE:T).
Even though its yield actually fell following the spinoff of content arm Time Warner, its 6% payout is as strong as it's been in a long time. That's potentially why billionaires Jim Simons of Renaissance Technologies and John Overdeck and David Siegel of Two Sigma Investments oversaw the respective purchase of 8.37 million shares and 2.37 million shares of AT&T stock in the third quarter.
The biggest catalyst for AT&T in 2023, and likely through at least mid-decade, is the 5G revolution. AT&T and its peers are liberally spending on 5G wireless infrastructure upgrades that should ultimately coerce consumers and enterprises to upgrade their wireless devices. It's been about 10 years since wireless providers last meaningfully improved wireless download speeds, so the impetus to upgrade and consume more data is certainly there. For its part, AT&T recognized its fastest quarterly revenue growth for its wireless services segment in more than a decade in the September-ended quarter.
The other big news with AT&T is the aforementioned spinoff of Time Warner and the subsequent merger with Discovery to create Warner Bros. Discovery. When Time Warner completed its merger with Discovery, AT&T “received” a $40.4 billion aggregate windfall in the form of cash and Warner Bros. Discovery assuming select lots of debt. The end result for AT&T is a modestly leaner balance sheet that provides added financial flexibility during a period of heightened economic uncertainty.
Stock #3: EPR Properties (EPR)
Dividend Yield: 6.2%
52-Week Range: $34.58 – $56.38
Our final stock on this list is EPR Properties (NYSE:EPR) is a real estate investment trust and specialized REIT that owns experiential properties, including movie theaters, waterparks and ski resorts. REITS are legally required to pay out 90% of their taxable income, making them a reliable source of dividends even during harsh market conditions.
EPR Properties has raised its earnings guidance from a range of $4.30 to $4.50 to a range of $4.39 to $4.55 after strong Q1 results. EPR also recently raised its monthly dividend by 10%, bringing its new yield up to 6.2%.
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