I don’t think the coronavirus stock market rout is over, but I do believe you have to be opportunistic about snapping up dividend yield during this correction.
Today shares of General Motor (GM) were down another 2.12% as of 2:40 p.m. New York time. That brings the forward yield on these shares (at the 2:40 p.m. price of $30.04) to 5.05%. Given my worries about mediocre annual returns for the next 10 years, I think you have to buy 5% yields when you find them.
The stock goes ex-dividend on March 5 so if you want to catch the next quarterly dividend payout, you can’t dawdle on this one.
General Motors is a member of my Jubak Picks Portfolio. The shares are down 17.08% since I added them to that portfolio on December 17, 2019.
