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Investing in stocks and other assets can lead to a better retirement. Investments compound over time and have the potential to deliver exceptional long-term returns. Some investors focus on growth stocks while others are getting closer to retirement. This has led to this list of the best retirement stocks to buy in April.
Retirement stocks still have the potential to generate positive returns. However, these corporations often give out lofty dividends or have enticing dividend growth rates. A few retirement stocks don’t offer dividends quite yet but have delivered good gains and look prime for dividends in the future.
Investors looking to build retirement portfolios may want to consider these best retirement stocks to buy in April.
Visa (V)
Visa (NYSE:V) is on its way to a $1 trillion market cap. The credit and debit card issuer makes a percentage of each transaction and is a barometer for consumer spending. The stock can rally during good economic conditions and doesn’t experience sharp downturns during slower economic cycles.
Visa stock only lost 4% of its value in 2022. During this down year for the stock market, many growth stocks shed 20% to 50% of their value. Even when consumers slow down their spending, they still use their credit and debit cards to make purchases.
The fintech company reported another solid quarter to start fiscal 2024. During the first quarter, the company reported 9% year-over-year revenue growth and 17% year-over-year net income growth. Visa regularly maintains profit margins above 50% and continues to expand them. The stock is up by 76% over the past five years and offers a 0.75% dividend yield. Visa tends to hike its dividend by at least 10% each year.
Procter & Gamble (PG)
Procter & Gamble (NYSE:PG) is a leading consumer staples stock that offers many home care products and other essentials. The stock isn’t likely to beat the market, but it offers stability during volatile times.
The company continues to grow, albeit at a slower pace. Procter & Gamble reported 3% year-over-year revenue growth in the second quarter of fiscal 2024 and a non-GAAP core EPS growth of 16% year-over-year. The company maintained its fiscal year sales and cash return guidance while raising its core EPS growth guidance.
Procter & Gamble has many brands under its umbrella like Gilette, Tide, and Herbal Essences. The company’s top three segments are Fabric & Home Care, Baby, Feminine, & Family Care, and Beauty. Health Care and Grooming are the company’s two other segments. All in all, it’s one of those best retirement stocks to buy in April.
Retirees will be happy to see that Procter & Gamble has been distributing dividends for 133 consecutive years. That includes 67 consecutive years of dividend hikes. Dividend growth has slowed down in recent years, but the stock offers a 2.41% yield just for buying shares.
Amazon (AMZN)
Closeup of the Amazon logo at Amazon campus in Palo Alto, California. The Palo Alto location hosts A9 Search, Amazon Web Services, and Amazon Game Studios teams. AMZN stock
Amazon (NASDAQ:AMZN) doesn’t offer a dividend but seems like a prime candidate for a future program. The company’s profit margins expanded in 2023 as it continues to tap into compelling opportunities like its online marketplace, cloud computing, advertising, and video streaming.
Most people do their online shopping with Amazon, and the company also has a big lead in the cloud computing industry. The stock has been doing well and is up by 78% over the past year.
Amazon is a staple in many index and mutual funds. It’s a key component of the S&P 500 and the Nasdaq 100 that has significantly impacted each of these indices’ performances. The company recently reported record sales in the fourth quarter of 2023. Overall sales increased by 14% year-over-year while Amazon Web Services saw a 13% year-over-year jump in revenue. The stock has rewarded many long-term investors and looks poised to consider that trend.
Watsco (WSO)
Watsco (NYSE:WSO) is an HVAC company that offers consistent growth and rising earnings. The company has a 5-year annual revenue growth rate of 9.88%. During that same stretch, the company has raised its dividend by an average of 11.84% per year.
The company has been distributing dividends for decades while rewarding shareholders with long-term returns. The stock is up by 187% over the past five years and offers a 2.51% dividend yield. Shares also trade at a 31 P/E ratio.
Watsco continued to grow its business year-over-year and gain market share during a soft market. The firm also hiked its dividend by 10% to reach an annualized $10.80 per share. The company took a breather after posting record results in 2021 and 2022. The company is exploring acquisitions to tap into additional growth and has acquired 69 successful companies since 1989. Watsco’s “buy and build” strategy has been working and can lead to higher portfolio values.
Main Street Capital (MAIN)
Main Street Capital (NYSE:MAIN) offers monthly dividend distributions for its investors. Retirees can use their income to cover various expenses without having to sell their shares. The stock also offers an enticing 6% dividend yield and is up by 8% year-to-date. Shares trade at a 9 P/E ratio.
The principal investment firm gives out debt to lower middle market companies and has several parameters in place. This market is relatively underserved, and Main Street Capital will only work with companies that have revenue between $10 million and $150 million. The company must also have EBITDA that ranges from $3 million to $20 million.
Main Street Capital’s portfolio consists of 190 companies with an average investment size of $18.7 million. The company’s assets are diversified into numerous industries and are spread evenly throughout the United States. The firm has allocated 26% of its assets to companies in the West Coast and 14% of its assets to companies in the Southeast United States. The Northeast, Midwest, and middle Southern States have percentages that fall in between those numbers.
Investors who want diversified portfolios and steady dividend payments may want to give Main Street Capital a closer look.
Cintas (CTAS)
Cintas (NASDAQ:CTAS) offers business supplies and safety equipment. Those products will always remain in demand and have helped the company command respectable profit margins. The company continued this trend in the third quarter of fiscal 2024 by posting a 15.8% net profit margin. Revenue increased by 9.9% year-over-year while net income jumped by 15.5% year-over-year.
The company only has a 0.80% dividend yield but makes up for it with an impressive growth rate. Cintas hiked its dividend by 17.1% year-over-year, and that type of growth rate has been normal for the company.
Cintas raised its full-year guidance from the range of $9.48 billion to $9.56 billion to the range of $9.57 billion to $9.60 billion. The company also hiked its EPS guidance. The midpoint of the old guidance was $14.50 per share while the new guidance suggests a midpoint of $14.90 per share. It’s a good sign when a company with healthy profit margins decides to raise guidance. The stock has steadily outperformed the market and is up by 229% over the past five years.
Walmart (WMT)
Walmart (NYSE:WMT) offers a combination of steady business fundamentals and growth opportunities. Many people go to the retailer to save money, and inflation has been attracting people who would normally skip Walmart. The company has been attracting wealthier consumers and is offering some higher-end products to attract more people from this customer segment.
The stock offers a 1.40% dividend yield and is up by 80% over the past five years. Walmart also has a 31 P/E ratio. The corporation raised its dividend by 9% in the fourth quarter of fiscal 2024. Revenue increased by 5.7% year-over-year during that quarter.
Advertising and e-commerce are promising growth drivers for the company. Global e-commerce sales increased by 23% year-over-year while advertising jumped by 33% year-over-year. Advertising has higher profit margins which can help Walmart maintain a high dividend growth rate for future quarters. The retail giant acquired Vizio to accelerate its growth in the advertising industry. This makes it one of those best retirement stocks to buy in April.
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