Stocks may have started the month of June on a down note, but there's something to be said for a healthy market pullback. In particular, when stocks cool off from their highs, it's often a welcome opportunity for value-minded investors to pick up shares of quality, dividend-paying companies at discounted prices.
While the S&P 500 Index ($SPX) is only about 1% away from its recent highs, several cash-rich companies with sustainable dividends have pulled back even further from their 52-week highs lately, with investors still pricing in concerns over the “longer” part of “higher for longer” interest rates. This has made some of the top dividend payers in these industries look pretty attractive, pushing yields higher.
