Bristol-Myers Squibb (BMY) is among the best affordable dividend stocks

Bristol-Myers Squibb Company (NYSE:Bmmi) included between 11 Best Affordable Dividend Stocks to Buy Now.

Bristol-Myers Squibb Company (NYSE: BMY) is an American pharmaceutical giant with operations in multiple countries and headquartered in New Jersey. In the second quarter, the company’s growth portfolio posted double-digit sales, with at least seven products recording more than 20% of sales. Among them, Breyanzi cancer cell therapy has doubled its sales in this period.

In the coming quarters, investors can look forward to increased Cobenfy sales. This new schizophrenia treatment received approval from the Food and Drug Administration last September, and sales are expected to reach $2.6 billion by 2030.

This year, Big Pharma expects earnings to fall in the range of $6.35 and $6.65 per share. That’s more than it needs to meet the dividend obligation currently set at $2.48 per year per share. With a strong lineup of new products to offset losses due to upcoming patent expirations, its high-yield earnings could continue to grow for at least another decade.

Bristol-Myers Squibb Company (NYSE: BMY) has raised its dividend for 16 straight years. The company pays a dividend per share of $0.62 each quarter and has a dividend yield of 5.39%, as of October 2.

While we acknowledge BMY’s potential as an investment, we believe some AI stocks offer greater potential and carry less risk on the downside. If you’re looking for a very underrated AI stock that will also benefit greatly from the Trump-era tariffs and the high profile trend, check out our free report on Best short term AI stocks.

Read next: 12 Best Dividend REIT Stocks to Buy Now and 10 top-4 dividend stocks to buy in the S&P 500.

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