With stocks hovering around record highs, the S&P 500 Index ($SPX) dividend yield is lingering at 1.32% - a discount to its longer-term yield of 1.83%. And while higher payouts are available for those willing to seek them out, many dividend-paying stocks have struggled to find buyers in the face of stiff competition from bond yields. But with that first interest rate cut now expected as soon as September, it's worth pointing out that some of Wall Street's perennial favorite dividend picks are trading at very attractive valuations for investors in search of reliable passive income.
So, where do we look? Established companies with a history of consistent dividend growth and a solid earnings base are where it's at. That's why we're taking a closer look at General Mills, Inc. (GIS) and Sysco Corporation (SYY). Both of these consumer staples giants offer yields well above the S&P, and they've got solid track records for payouts.
