The healthcare sector isn’t known for producing high dividend yields. However, our latest addition to the Best Healthcare Dividend Stocks List is a biotechnology company that boasts a dividend yield that is nearly 3x higher than the S&P 500 average. Although our pick’s payout ratio may seem high, its strong cash position and high-growth portfolio should translate into solid dividend growth.
Thanks to its growing catalog of anticancer and antiviral treatments and strong performance during the COVID-19 pandemic, our pick has become a cash flow juggernaut over the past four quarters. The company’s oncology revenues reached a new all-time high in the second quarter of 2022, with product sales outside of its COVID-19 treatments registering strong year-over-year growth.
To make room for our biopharma pick, we’ve booked profits and sold off our holdings of a healthcare and pharmaceutical supplies manufacturer.
You can check out the Best Health Care Dividend Stocks List to explore all the stocks.