Mr. Dividend Investor: Top 3 Dividend Stocks For October 2024 That I’m Scooping Up

September is nearly over. The month is historically the weakest for markets. But for the first time in five years, markets are holding their own this month. However, October could be a different story.

That’s because October is the second-worst month on average for investor returns. October is also the month that ends to see big market selloffs. It’s even the month most associated with crashes.

While a major crash is likely off the table this year, markets could still trade choppy. But with interest rates coming down, dividend-paying stocks should look increasingly attractive.

Investors can get a steady stream of income with dividend stocks, plus further capital gains.

For example, Occidental Petroleum (OXY) is an oil giant that provides investors with a 1.7% dividend at current prices.

While that’s not the largest in the oil space, Occidental pays out just 20% of its earnings as dividends. That’s a sustainable payout, especially with oil prices trading near $70 per barrel. And Occidental has a history of gradually rising its payout over time.

Oxy has grown earnings by 35% over the past year, even in a challenging market for oil. OXY shares are down 17%, but are at a level where big buyers have historically been interested in buying more.

To view the other two dividend stocks worth buying now, click here.