The Dividend Heroes: Broadcom Shines in a Busy Week
Triple digit gain for AVGO in 2024; Dividend Heroes now up 36% YTD
As the year inches closer to its end, the 25 top Dividend Heroes for 2024 continue to deliver remarkable results, with Broadcom stealing the spotlight this week. Here's a closer look at the key developments.
Broadcom’s Stellar Performance
In what has been a busy week for markets, Broadcom emerged as the clear winner among the Dividend Heroes. The stock surged an impressive 25% after announcing a new dividend increase and reporting strong earnings fueled by growth in the AI sector (check the video below by Dividend Freak for more on Broadcom). This rally brings Broadcom's total return for 2024 to a remarkable +124%, making it only the second stock this year to achieve a return greater than 100%.
The first stock to reach this milestone was Comfort Systems USA (FIX), which has consistently delivered strong performance throughout the year.
Williams Sonoma: A Close Contender
Not far behind is Williams Sonoma, another standout performer in 2024. The home furnishings retailer now boasts a +97% return, coming tantalizingly close to joining the exclusive 100% club.
The Underperformers: Steel Takes a Hit
While Broadcom soared, not all Dividend Heroes enjoyed a positive week. Stocks in the steel sector were among the biggest losers, weighed down by macroeconomic pressures.
At the bottom of the pack is Westlake, which remains the only Dividend Hero in negative territory for 2024. With a -13.4% return, Westlake has struggled to recover from earlier setbacks this year.
Looking Ahead
As we move into the final weeks of 2024, the Dividend Heroes remain a fascinating group to watch. From tech-driven surges to sector-specific declines, their performance highlights the resilience and diversity of dividend-paying stocks.
Broadcom’s explosive growth, fueled by AI and a commitment to increasing shareholder returns, underscores the importance of innovation and adaptability in today’s market. Meanwhile, Williams Sonoma’s steady climb demonstrates the value of consumer-focused strategies, even in challenging conditions.
Will other Dividend Heroes join the 100% return club before the year is out? Only time will tell, but one thing is clear: the Dividend Heroes continue to prove their mettle as reliable options for income-focused investors.
Stay tuned for more updates on the Dividend Heroes as we wrap up 2024. Don’t forget to subscribe for weekly insights on top-performing dividend stocks and strategies!