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3 blue-chip stocks to buy to live your life off of dividends

3 blue-chip stocks to buy to live your life off of dividends

Dividend investing is a highly popular strategy that helps ensure that traders always have at least some road ahead, no matter where their other stock market activities or their 9-to-5 take them. 

Such yields can also help increase one’s stock holdings as many brokers allow for direct reinvesting, and while they are not flawless, they remain an important part of many a market strategy.

Additionally, dividends are best when tied to stocks with strong track records for both returns and yield growth, and thus, Finbold decided to examine the three best blue-chip companies to invest in 2024 for regular quarterly payments.

Chevron Corp (NYSE: CVX)

While oil is theoretically on the way out as an energy source thanks to the ongoing green transformation, fossil fuels remain pivotal for the smooth operation of everyday life. 

Among the companies extracting black gold, Chevron (NYSE: CVX) remains one of the strongest picks thanks to a combination of factors, including its stock market track record and its extensive global network of oil extraction plants.

The Warren Buffett-backed giant, while offering a middling performance in 2024 as it is only some 3% in the green, pays approximately $1.63 per share each quarter – a 4.23% annual dividend yield – and boasts a generally strong 12-month outlook with an average predicted 21% upside.

CVX stock analyst consensus. Source: TipRanks

Apple (NASDAQ: AAPL)

While Apple (NASDAQ: AAPL), another Buffett-backed stock, pays only middling dividends with a 0.44% annual yield – $0.21 per share each quarter – is nonetheless a strong pick for any savvy investor.

The technology giant not only boasts an exceptional track record but has also recently unveiled a partnership with OpenAI focused on integrating ChatGPT into its future operating systems (OS). 

Given how much other prominent artificial intelligence (AI) stocks have risen in 2024 and the relatively modest growth of AAPL shares since January 2, it is likely it will offer significant returns along with decent dividends.

AAPL stock YTD price chart. Source: Finbold

Walmart (NYSE: WMT)

While Walmart (NYSE: WMT) may not be the most exciting stock in the market, it is one that has been consistently offering exceptionally consistent returns. Indeed, despite not belonging to one of the flashier sectors like AI or solar energy, WMT shares are nearly 90% in the green in the last five years and more than 35% in the last 12 months.

WMT stock 1-year price chart. Source: Finbold

Additionally, Walmart has been considered a strong dividend pick for years as it offers a 1.19% annual yield and pays $0.21 per share each quarter. Finally, WMT price today stands at $69.98 and is, on average, expected to rise to $73.85 in the coming 12 months.

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