A 4%+ dividend yield is hard to find in the technology sector, which makes Qualcomm (QCOM) that much more appealing.
Qualcomm stock possesses the rare combination of a high dividend yield, along with high dividend growth as well.
It recently raised its dividend by 7.5%, which pushed its dividend yield up to 4.3%.
Qualcomm is a Dividend Achiever, a group of 265 stocks with 10+ years of consecutive dividend increases.
The stock has been dragged down by a negative news flow. It has lost nearly 20% of its value year-to-date.
But long-term investors should not be swayed.
Qualcomm remains a high-quality company, with a strong industry position, high free cash flow, and an excellent balance sheet.
Its sagging share price—which has pushed its dividend yield to 4.3%–could be a great buying opportunity for long-term dividend growth investors.