There is no one-size-fits-all strategy that has the potential to make investors wealthy over time, but there are few approaches that have a better track record of success than investing in dividend stocks. Companies that pay dividends are often successful, profitable businesses -- year in, year out -- which have generally proven over time that they can withstand market cycles and recessions. The asset managers at Hartford Financial Services looked at the performance of the benchmark S&P 500 going all the way back to 1930 and found there was not a single decade in which dividend stocks in the index didn't generate positive returns, even when the broader market was losing money for investors.
AbbVie (NYSE: ABBV) and Viatris (NASDAQ: VTRS) have a lot more in common than first glances would suggest. The two were both spun off from larger companies and now deliver above-average dividend yields. In AbbVie's case, it is the patent cliff next year for its immunology drug Humira, the top-selling drug last year other than COVID-19 vaccines.
You can count on them to pay dividends quarter after quarter as well as deliver solid growth over the long term. Here's why they picked AbbVie (NYSE: ABBV), Bristol Myers Squibb (NYSE: BMY), and Johnson & Johnson (NYSE: JNJ).