Why Bristol-Myers Squibb (BMY) Deserves a Spot in Passive Income Portfolios

Bristol-Myers Squibb Company (NYSE:BMY) is included among the 12 Best Stocks to Buy Now for Passive Income. 

Bristol-Myers Squibb Company (NYSE:BMY) is a global biopharmaceutical company that many consider worth investing in and holding long-term. Its history dates back to the early 1800s, shaped by decades of drug innovation and strategic mergers. Today, the company focuses on treatments in oncology, cardiovascular health, immunology, neuroscience, and blood disorders.

In recent years, Bristol-Myers Squibb Company (NYSE:BMY) has invested roughly $100 billion in acquisitions to prepare for revenue losses from key drugs approaching patent expiration.

Bristol-Myers Squibb Company (NYSE:BMY) is a strong dividend company. On September 17, the company declared a quarterly dividend of $0.62 per share, which was in line with its previous dividend. Overall, it holds a 16-year track record of dividend growth, which makes it one of the best stocks for passive income. As of September 22, the stock has a dividend yield of 5.51%.

While we acknowledge the potential of BMY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.