New Survey Finds Inflation, Housing Costs And Eviction Threats Hitting Minorities Hardest

Minority communities have been the hardest hit financially by the current spike in consumer prices and housing costs, with high percentages of Black, Latino and Native American families reporting serious financial problems and even threats of eviction, according to a survey published Monday by the Harvard T. H. Chan School of Public Health, NPR and the Robert Wood Johnson Foundation.

With the annual increase in consumer prices hitting a 40-year high of 9.1% in June, Americans, by a wide margin, cite inflation as the number one problem facing the U.S. But the actual impact on individual households is more dispersed. For example, in the new survey, 58% of Black adults, 56% of Latinos and 69% of Native Americans say inflation has caused them serious financial problems, compared to 44% of white and 36% of Asian adults.

Soaring rents are similarly hitting certain minority households the hardest. In the new survey, 16% of Black renters, 10% of Latino renters and 21% of Native American renters reported they had been evicted or threatened with eviction in the past year. That compares to 9% of white and 4% of Asian families. “This is just a warning from this survey, that unless the government can provide some help for vulnerable populations, a year from now they are going to have more people who are homeless,” said Robert J. Blendon, co-director of the survey and an emeritus professor of Health Policy and political analysis at the Harvard T.H. Chan School of Public Health

Programs of emergency rental aid helped around 5 million American families during the early months of the pandemic, with 1.5 million fewer evictions compared to pre-pandemic levels. After 22 million Americans lost their jobs during the start of the pandemic, Congress provided $25 billion in emergency rental assistance in the Coronavirus Aid, Relief, and Economic Security Act (CAR AR +3%ES Act) passed in March 2020. A year later, in the American Rescue Plan, it added another $21.55 billion of rental assistance.

The CARES Act also included a temporary federal eviction moratorium that expired in the summer of 2020. It was later extended by the Centers for Disease Control (CDC), and then by Congress, and then again by the CDC. Finally, on August 3, 2021, after a surge in Covid-19 cases due to the Delta variant, the CDC extended the moratorium yet again. Later that month, the Supreme Court ruled against it.

Meanwhile, the emergency rental funds Congress appropriated have either been used up or are being returned to the federal government unspent. For example, last Thursday, Mississippi Governor Tate Reeves announced his state would halt the federally-funded Rental Assistance for Mississippians Program by Aug. 15, meaning as much as $130 million for the program would be returned to the federal government.

California, having used up its federal money, ended its Covid-19 rental assistance program on March 31, 2022. It sent more than $4 billion to 344,000 households –but around 5,400 tenants and landlords have received emails asking to return money received in Covid-19 rent relief.

The housing component of the CPI increased 5.6% in the 12 months ended in June, but that includes costs to both homeowners and renters. In many places renters have seen far greater increases. According to housing data collected by Redfin RDFN +14.3%, average asking rents in June were up 14% compared to June 2021. In some sunbelt cities like Miami, rent has increased nearly 40%.

The recent spike in rent prices leaves low-income and minority groups in particularly precarious situations. A May report by the Federal Reserve Board showed that as of last fall, about half of renters with income between $25,000 and $49,999 were already “cost burdened”—meaning they were spending more than 30% of their income on rent. In the Fed survey, 44% of Black households and 37% of Hispanic households reported they were renters, compared with just 21% of white households.

“Unless some sort of emergency help is provided, a substantial number of minority populations are going to be evicted over the next year,” Blendon warns.

MORE FROM FORBESMortgage Applications Rise In Potential Housing Market Respite-Could Home Buying Become More Affordable Soon?

Follow me on Twitter or LinkedIn.

I’m a summer intern reporting for Forbes Money and Markets. I graduated from Boston University with a degree in Journalism

Source: New Survey Finds Inflation, Housing Costs And Eviction Threats Hitting Minorities Hardest

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Buy Now, Pay Later Versus Credit Cards: What You Should Know

CEO and Founder of Plinqit, the only savings app of its kind that pays users for learning about finance and savings. Between inflation, rising interest rates and other economic uncertainties, many Americans are concerned about their personal finances. These concerns impact their financial decisions. For some, this means relying on buy now, pay later (BNPL) products. In fact, a new survey from Credit Karma revealed that nearly 60% of consumer respondents said inflation is driving them to use BNPL products for items they need.

The survey also revealed that 13% of BNPL users surveyed rely on the service to pay for items at the supermarket, 18% are using it at warehouse stores and 17% are using it at discount stores. These stats indicate consumers are using BNPL services to pay for food and other household necessities.

Overall, BNPL usage has grown rapidly in recent years, and the BNPL market is expected to hit $3268.2 billion by 2030. It is more important than ever for consumers to understand how these products work so they can make informed financial decisions, especially in the current economic environment. Whether they opt to use BNPL or not, consumers need to know the risks, the difference between BNPL and traditional credit products, as well as the pros and cons of each, and the potential implications of using BNPL when it comes to their financial goals.

If It’s Available, Why Not?

Just as you would with any credit product, look out for overuse of BNPL. Most Americans believe they can handle one BNPL installment, but what happens when one installment turns into three? Juggling multiple BNPL payments makes it easy to overextend your budget and potentially lose track of payment due dates, resulting in a cycle of debt that’s hard to get out of.

If a person fails to pay their BNPL payment, their debt can be sent to collections, which can seriously damage their credit score. In fact, according to a Credit Karma survey of Americans who have used BNPL, 38% reported they have missed at least one payment. Of those, another 72% saw a decrease in their credit score afterward.

Additionally, BNPL is different from other forms of financing because BNPL providers currently do not review consumers’ other outstanding debts. This makes it difficult to understand whether a consumer can take on more debt. Consumers must also expect the unexpected. What if an unexpected expense comes up? Will this impact their ability to make payments toward their BNPL debt and other debts?

BNPL Versus Credit Cards—What’s Better?

BNPL is gaining popularity as an alternative to credit cards, particularly among younger consumers. Many younger adults fear getting into debt, so they avoid using credit cards for purchases and instead reach for the tech-friendly BNPL solution. Both methods come with their own pros and cons, and consumers should weigh the benefits and risks of each before blindly making purchases.

Due to the increase in online shopping during the Covid-19 pandemic coupled with the demand for convenience, many consumers started using BNPL services. Popular BNPL providers like Afterpay, Affirm and Klarna have little to no interest and no hard credit check. Some options carry no fees, essentially making it free financing for the customer. However, if a customer misses a payment, it can affect their credit score and there can be substantial fees for late payments.

Also, some BNPL providers do not currently report positive payment history to the major credit bureaus, which means consumers cannot build their credit score like they could by making on-time payments for a credit card.

On the other hand, credit cards can be used almost anywhere and are more versatile for things like groceries and gas. Credit cards also build credit history and offer rewards and points that can be used on travel and cash back. However, carrying a balance over to the next month can incur a significant amount of interest, making it even harder to pay off the new balance.

BNPL’s Implications For Financial Goals

No matter what a consumer’s financial goals are—whether it’s early retirement or buying a home or car—taking on debt has implications for those goals. When deciding between BNPL financing and other forms of credit, it is best for consumers to consider how the line of credit will impact their ability to save.

Do they need to build up their credit score in the long term to buy a house? If so, a credit card might be best. Do they need to make a necessary purchase now and pay it off over time without impacting their credit score? If so, BNPL may be a good choice.

It is also important to consider economic changes that can impact budgets and financial well-being. While the economy is still in recovery from the pandemic, inflation continues and the cost of everyday goods remains at record highs. Consumers should avoid overextending their budgets and steer clear of financing that may hurt their credit score and send them deeper into debt.

The Role Of Community Financial Institutions

For individuals considering alternative financing options, it’s worthwhile to leverage the resources at their bank or credit union to make an informed decision. Financial institutions are well equipped to educate consumers on the benefits and risks of BNPL, as they can accurately assess these financing solutions and determine whether they will help or hinder a consumer from achieving their goals.

The appeal of BNPL is clear, thanks to its convenient enrollment process and widespread availability. These services have become common among online retailers, and apps such as Afterpay and Affirm are quickly becoming household names. While these financing options appeal to many, individuals should be aware of the implications of using BNPL, and they need to look no further than their community financial institution for guidance.

With the help of their local bank or credit union, consumers can become more financially literate so they can weigh the pros and cons of BNPL versus traditional credit products. This will ensure consumers make smart financial decisions and take the right steps to create a positive financial future.

CEO and Founder of Plinqit, the only savings app of its kind that pays users for learning about finance and savings. Read Kathleen Craig’s full executive profile here.

Source: Buy Now, Pay Later Versus Credit Cards: What You Should Know

Critics by movi

Buy now, pay later is a type of short-term financing. These point-of-sale installment loans are offered by a number of companies, including Movi

BNPL can be used at a variety of major retailers, which differ from plan to plan. Some credit card companies, also offer installment payment arrangements for eligible cardholders. Each buy now, pay later plan is unique to its provider, but generally they share a few things in common.

For example, BNPL loans typically require an upfront deposit payment representing a portion, such as 25%, of the purchase amount. After that, the remaining balance must be paid off in installments over a period of a few weeks or a few months. Some BNPL services set the total number of payments at four, while others allow borrowers to select their own payment schedule.

In terms of cost, buy now, pay later plans often charge no interest and no fees, with the exception of late fees for missed payments.

Just over half, 51%, of Americans used a buy now, pay later service at least once during the coronavirus pandemic. Among the most commonly purchased items were clothing, furniture, appliances, electronics, housewares, and cosmetics.

How Credit Cards Differ

Like buy now, pay later loans, credit cards can be used at retailers. But they can also be used to buy gasoline, make utility bill payments, and for other kinds of expenses. If the cardholder pays their balance in full each month, they won’t owe any interest. Otherwise, their balance will accrue interest at the card’s annual percentage rate (APR).

Credit cards may also charge fees, including:

  • An annual fee
  • Balance transfer fees
  • Cash advance fees
  • Foreign transaction fees
  • Late payment fees

A credit card is an example of revolving credit. With this type of credit agreement, you have a set credit limit that you can borrow against. As you make purchases with a credit card, your available credit is reduced by that amount. When you make a payment, that frees up your available credit.

Buy Now, Pay Later vs. Credit Cards: Which Is Better?

Buy now, pay later plans and credit cards are both options to consider when making purchases online or in stores. But each has some advantages and disadvantages.

Buy Now, Pay Later Pros

  • Convenience: You can apply online and be approved almost instantly
  • Get approved without a hard credit check, which can lower your credit score
  • Pay off purchases in installments, typically with no interest charges
  • Choose a payment frequency that fits your budget (at some BNPL providers)

Buy Now, Pay Later Cons

  • Since you don’t have to pay in full right away, it’s easy to overspend
  • Payment plans aren’t always interest-free
  • Missing a payment or being late with one could hurt your credit score
  • Not all retailers accept buy now, pay later

Credit Card Pros

  • Can be used at a wider array of retailers and for other purposes
  • Pay off purchases over time at your own pace, without fixed installment payments
  • Potential to earn cash back, miles, or points on purchases
  • Cards may offer other perks, such as travel and rental car insurance

Credit Card Cons

  • Interest charges can add up quickly if you carry a balance from month to month
  • A hard credit check is typically required to qualify
  • Late payments can be damaging to your credit score
  • Credit cards can charge numerous fees, which add to your overall cost

How to Choose a Buy Now, Pay Later Plan

When comparing buy now, pay later plans, pay particular attention to:

  • Which retailers accept it
  • Initial deposit requirements
  • Number of installment payments required
  • Interest charges, if any
  • Fees, if any
  • Limitations or exclusions on purchases
  • Credit check requirements
  • Shipping policies
  • Refund and return policies

Also, consider how a buy now, pay later agreement might affect your credit. While many BNPL companies only perform a soft credit check to approve shoppers for loans, your credit score could still suffer if you’re late in making a payment and the company reports it to a credit bureau.

Related contents:

Bank of America Customized Cash Rewards credit card review: Choose your own 3% cash-back… Business Insider

01:23
00:22
19:24 Wed, 03 Aug

Michigan woman stole dead mom’s ID, spent $12,000 on credit cards FOX 2 Detroit

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Plastic Recycling Doesn’t Work and Will Never Work

Americans support recycling. We do too. But although some materials can be effectively recycled and safely made from recycled content, plastics cannot. Plastic recycling does not work and will never work. The United States in 2021 had a dismal recycling rate of about 5 percent for post-consumer plastic waste, down from a high of 9.5 percent in 2014, when the U.S. exported millions of tons of plastic waste to China and counted it as recycled—even though much of it wasn’t.

Recycling in general can be an effective way to reclaim natural material resources. The U.S.’s high recycling rate of paper, 68 percent, proves this point. The problem with recycling plastic lies not with the concept or process but with the material itself. The first problem is that there are thousands of different plastics, each with its own composition and characteristics. They all include different chemical additives and colorants that cannot be recycled together, making it impossible to sort the trillions of pieces of plastics into separate types for processing.

For example, polyethylene terephthalate (PET#1) bottles cannot be recycled with PET#1 clamshells, which are a different PET#1 material, and green PET#1 bottles cannot be recycled with clear PET#1 bottles (which is why South Korea has outlawed colored PET#1 bottles.) High-density polyethylene (HDPE#2), polyvinyl chloride (PVC#3), low-density polyethylene (LDPE#4), polypropylene (PP#5), and polystyrene (PS#6) all must be separated for recycling.

Just one fast-food meal can involve many different types of single-use plastic, including PET#1, HDPE#2, LDPE#4, PP#5, and PS#6 cups, lids, clamshells, trays, bags, and cutlery, which cannot be recycled together. This is one of several reasons why plastic fast-food service items cannot be legitimately claimed as recyclable in the U.S.

Another problem is that the reprocessing of plastic waste—when possible at all—is wasteful. Plastic is flammable, and the risk of fires at plastic-recycling facilities affects neighboring communities—many of which are located in low-income communities or communities of color. Unlike metal and glass, plastics are not inert. Plastic products can include toxic additives and absorb chemicals, and are generally collected in curbside bins filled with possibly dangerous materials such as plastic pesticide containers.

According to a report published by the Canadian government, toxicity risks in recycled plastic prohibit “the vast majority of plastic products and packaging produced” from being recycled into food-grade packaging. Yet another problem is that plastic recycling is simply not economical. Recycled plastic costs more than new plastic because collecting, sorting, transporting, and reprocessing plastic waste is exorbitantly expensive. The petrochemical industry is rapidly expanding, which will further lower the cost of new plastic.

Despite this stark failure, the plastics industry has waged a decades-long campaign to perpetuate the myth that the material is recyclable. This campaign is reminiscent of the tobacco industry’s efforts to convince smokers that filtered cigarettes are healthier than unfiltered cigarettes. Conventional mechanical recycling, in which plastic waste is ground up and melted, has been around for many decades. Now the plastics industry is touting the benefits of so-called chemical recycling— in which plastic waste is broken down using high heat or more chemicals and turned into a low-quality fossil fuel.

In 2018, Dow Chemical claimed that the Renewlogy chemical-recycling plant in Salt Lake City was able to reprocess mixed plastic waste from Boise, Idaho, households through the “Hefty EnergyBag” program and turn it into diesel fuel. As Reuters exposed in a 2021 investigation, however,  all the different types of plastic waste contaminated the pyrolysis process. Today, Boise burns its mixed plastic waste in cement kilns, resulting in climate-warming carbon emissions. This well-documented Renewlogy failure has not stopped the plastics industry from continuing to claim that chemical recycling works for “mixed plastics.”

Chemical recycling is not viable. It has failed and will continue to fail for the same down-to-earth, real-world reasons that the conventional mechanical recycling of plastics has consistently failed. Worse yet, its toxic emissions could cause new harm to our environment, climate, and health. We’re not making a case for despair. Just the opposite. We need the facts so that individuals and policy makers can take concrete action. Proven solutions to the U.S.’s plastic-waste and pollution problems exist and can be quickly replicated across the country.

These solutions include enacting bans on single-use plastic bags and unrecyclable single-use plastic food-service products, ensuring widespread access to water-refilling stations, installing dishwashing equipment in schools to allow students to eat food on real dishes rather than single-use plastics, and switching Meals on Wheels and other meal-delivery programs from disposables to reusable dishware. If the plastics industry is following the tobacco industry’s playbook, it may never admit to the failure of plastics recycling. Although we may not be able to stop them from trying to fool us, we can pass effective laws to make real progress.

Single-use-plastic bans reduce waste, save taxpayer money spent on disposal and cleanup, and reduce plastic pollution in the environment. Consumers can put pressure on companies to stop filling store shelves with single-use plastics by not buying them and instead choosing reusables and products in better packaging. And we should all keep recycling our paper, boxes, cans, and glass, because that actually works.

Source: Plastic Recycling Doesn’t Work and Will Never Work – Vigour Times

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JP Morgan Warns of An Economic ‘Hurricane’ Coming: ‘Brace yourself’

JPMorgan Chase CEO Jamie Dimon warned of a looming economic “hurricane” caused by an increasingly hawkish Federal Reserve, rising inflationary pressures and the Russian invasion of Ukraine. Dimon – who said at the beginning of May there were storm clouds forming on the economic horizon – ratcheted up his warning on Wednesday, citing fresh challenges facing the Fed as it seeks to tame the hottest inflation in a generation.

“I said there were storm clouds. But I’m going to change it. It’s a hurricane,” he said during a conference hosted by AllianceBernstein Holdings. “Right now it’s kind of sunny, things are doing fine, everyone thinks the Fed can handle it. That hurricane is right out there down the road coming our way. We don’t know if it’s a minor one or Superstorm Sandy. You better brace yourself.”

There are two main issues that Dimon said are worrying him: The Federal Reserve moving to unwind its $8.9 trillion balance sheet, deploying a less-known tool known as quantitative tightening that will further tighten credit for U.S. households as officials try to tame red-hot inflation.

The rundown of the Fed’s portfolio is poised to begin on Wednesday at an initial combined monthly pace of $47.5 billion. The Fed will increase the runoff rate to $95 billion by September, putting the central bank on track to reduce its balance sheet by about $3 trillion over the next three years. We’ve never had QT like this, so you’re looking at something you could be writing history books on for 50 years,” Dimon said.

The second matter weighing on Dimon is the Russian-Ukraine war and its effect on the price of commodities like food and oil. The bank CEO said that oil could hit $150 or $175 a barrel as a result of the conflict, which began in late February. Brent crude, the benchmark, is currently selling for $116 a barrel. “Wars go bad. They go south. They have unintended consequences,” he said.

Dimon’s comment comes amid growing fears on Wall Street that the Fed may drag the economy into a recession as it seeks to tame inflation, which climbed by 8.3% in April, near a 40-year high. Bank of America, as well as Fannie Mae and Deutsche Bank, are among the Wall Street firms forecasting a downturn in the next two years, along with former Fed Chairman Ben Bernanke.

Policymakers raised the benchmark interest rate by 50 basis points earlier this month for the first time in two decades and have signaled that more, similarly sized rate hikes are on the table at coming meetings as they rush to catch up with inflation.  Fed Chairman Jerome Powell has acknowledged there could be some “pain associated” with reducing inflation and curbing demand but pushed back against the notion of an impending recession, identifying the labor market and strong consumer spending as bright spots in the economy. Still, he has warned that a soft landing is not assured.

Source: Jamie Dimon warns of an economic ‘hurricane’ coming: ‘Brace yourself’ | Fox Business

Critics by : J.P. Morgan

October data showed that consumer prices in the United States rose at a 6.2% pace relative to last year, the fastest pace in 30 years. Food prices are 5% higher than they were last year. Used car prices are up 26%. Energy prices are up 30%. Shelter, one of the most critical sub-categories, has rapidly recovered to its pre-COVID 3.5% pace. The gains are broad based, and seem to be accelerating. Compared to last month, the median component is up almost 60 basis points, the highest reading back to 1983.

Rising prices pressure all spenders, especially those with low disposable incomes. However, only focusing on rising prices ignores important context. Over the last year, the economy has added almost 5.5 million private sector jobs. Aggregate earnings are up 4% annualized over the last two years versus prices up 3.7%. Retail sales are 15% higher than they were a year ago.

Yes, gasoline prices have soared to $3.40 per gallon relative to just $2.10 one year ago. But gas was also $3.40 per gallon in 2014, when incomes were 25% lower than they are now. The only sector that is seeing any demand destruction because of soaring prices and shortages is automobiles.

Economy wide corporate profits (before tax) are 16% higher. S&P 500 profit margins actually expanded in the third quarter despite expectations for a decline. Input and labor costs are surging, but so are sales. For now, inflation just comes with the territory of a booming economy, and a lower inflation environment would likely also be characterized by a weaker labor market and a more tepid jobs recovery.

There are compelling reasons why stock markets are still close to all-time highs. Third quarter earnings surprised to the upside, global supply chain pressures seem to be getting better, not worse (Vietnamese factory operations are normalizing and shipping costs are falling), and onerous corporate tax hikes seem increasingly unlikely.

Bond markets are a little more stressed, but given the circumstances, they have been relatively tame. Two-year bond yields have moved up by about 30 basis points since the start of October because investors are starting to think that the Federal Reserve will start raising rates soon in an effort to deal with inflation. Meanwhile, 10-year Treasury bonds are yielding just over 1.5%. Why so low? Simply, because bond markets think that this surge in inflation will be temporary. Longer run inflation expectations are still well below where they were from 2000-2014.

Inflation has been strong all year and risk assets have hardly blinked. The mega cap tech sector was often cited as the one that was most at risk during an inflationary environment. The Nasdaq 100 is up over 25% this year.

What could change the picture is if the Federal Reserve makes an abrupt turn toward hawkish policy. And we don’t mean something like accelerating the pace of tapering asset purchases. We mean something like what happened in 1994, when the Fed raised rates by 300 basis points cumulatively because they thought they needed to act quickly to snuff out inflation. Even though corporate earnings grew around 20% that year, equity markets ended flat because cash got more and more attractive.

Another longer term risk is that the discourse around inflation is inherently political. Surging inflation now could make it less likely that policymakers opt for powerful fiscal stimulus during future downturns, which could delay economic recovery and be harmful for stocks.

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Dividend-Payers Still Shine Brightly As Stocks Stage Bounce-Back Rally

After seven straight down weeks for the S&P 500 Index and eight weeks of declines by the Dow Jones Industrial Average, stocks staged a big comeback from lows last Tuesday to finish the week with robust gains across the board. Sentiment gauges from the AAII survey to Investor’s Intelligence’s roundup of investment newsletter editor outlook had been flashing multi-decade highs in pessimism. Technically, put-call ratios had also spiked to levels associated with widespread panic. but now they are on the decline and helping to thrust stocks higher as pessimism recedes from unsustainable peaks.

The most important piece of economic news came out on Friday after the rally was well underway when the Commerce Department reported that the core personal consumption expenditure (PCE) price index rose at a 4.9% annual rate in April, which was a deceleration from the 5.2% pace in March. The report provided hope that the Federal Reserve would not need to be as aggressive as planned in hiking rates in the coming months. Next Friday’s nonfarm payrolls report for May will be another critical piece of data for handicapping the Fed’s moves.

By the end of the week, both the S&P 500 Index and the Russell 2000 Small Cap Index had both gained 6.6%. It would not be unreasonable to see this rally take the S&P 500 to it’s declining 50-day moving average, but there is a lot to prove for the bulls to make this burst of buying anything more than a rally within a larger downtrend.

The biggest gains last week came from the sector that has been the most beaten down this year: Consumer staples jumped higher by 9.5%. A 4.3% increase in crude oil prices helped drive the energy sector higher by 8.3%. Growth stocks outperformed value, and domestic equities performed better than international stocks.

Equity Income Universe: Last week, the top performing equity income funds that we track were the WisdomTree MidCap Dividend (DON DON +6.6%) and FlexShares Quality Dividend (QDF QDF +6.3%).

Dividend growth funds have been big underperformers this year, but the style shined last week with T. Rowe Price Dividend Growth (PRDGX +6.2%), WisdomTree U.S. Quality Dividend Growth (DGRW DGRW +6.2%) and Vanguard Dividend Appreciation Index (VIG VIG +6.2%) all gaining more than 6%.

Also jumping more than 6% were the year-to-date total return leader, Alerian MLP (AMLP AMLP +6.2%) master limited partnership ETF, and the VanEck BDC Income (BIZD BIZD +6.2%) business development company ETF.

FDI Portfolio Action: Last week’s Forbes Dividend Investor portfolio of 22 stocks gained an average of 4.87%, with only two stocks failing to post positive returns.

Our top performer was master limited partnership Holly Energy Partners, L.P. (HEP +8.9%). Also higher by more than 8% for the week were Luxembourg-based steel maker Ternium TX SA (TX +8.7%), chemicals maker LyondellBasell Industries LYB NV (LYB +8.5%), and International Business Machines (IBM +8.4%).

Capturing Call Premium On The Bounce

A medium-term bearish environment with at least a temporary burst of bullishness is one in which selling covered calls makes sense. Last Monday, we sold covered calls on Tyson Foods TSN (TSN +6.8%) and Kraft Heinz (KHC -0.3%). Both companies had ex-dividend dates last week.

Selling the same TSN $87.50 July 15 calls would now earn you $5.30, based on Friday’s closing price for Tyson of $91.04. With Kraft Heinz, the $39 July 1 calls we sold for $1.30 last Monday now trade for only $0.65-$0.70. Going out to the July 15 expiration and selling slightly in-the-money KHC $37.50 calls earns premium of $1.65-$1.70.

John Dobosz

I am the deputy editor of investing content for Forbes Media. I’m responsible for money and investing coverage on Forbes.com and in Forbes magazine.

Source: Dividend-Payers Still Shine Brightly As Stocks Stage Bounce-Back Rally

Highest Dividend-Paying Stocks in the S&P 500

Part of the reason we are seeing a “risk-off” environment on Wall Street in 2022 is because – for the first time in a long time – you can get a decent payday in traditional fixed-income investments thanks to a rising interest rate environment. Consider that 10-year Treasury bonds pay almost 2.9% right now – more than double the yield of last summer – while the S&P 500 averages a dividend yield of just 1.4% right now. Many income investors aren’t willing to settle for the risk of stocks when they can instead get significantly higher yield in bond markets. However, the following S&P 500 components offer a way to tap into outsized yield that may make them worth a look – with a minimum yield of 4.7% and payouts as high as 8.6% at current pricing.

By now, everyone knows how bad smoking is for your health. But as with sugary soft drinks or fatty fast food, just because something is unhealthy doesn’t mean consumers will stop buying it. And as we enter a period of volatility for the stock market thanks to price inflation, many investors are learning that smokers are incredibly reliable customers. That makes $160 billion tobacco icon Philip Morris a slam dunk thanks to leading brands such as Marlboro, the best-selling cigarette in the world, along with its other popular products. PM dividends have roughly doubled from 64 cents quarterly back in 2011 to $1.25 as of the beginning of this year, adding up to one of the best yields in the S&P 500 index.

Office real estate operator Vornado has a portfolio concentrated in the nation’s key metropolitan markets, including prime properties in New York City, Chicago and San Francisco. Vornado is also the leading firm when it comes to sustainable commercial properties, with over 23 million square feet of Leadership in Energy and Environmental Design, or LEED, certified buildings. Structured as a REIT, or real estate investment trust, VNO must deliver 90% of its taxable income back to shareholders each year – meaning a mandate for consistent and generous dividends for shareholders.

Another REIT, Simon differs from Vornado in that it is one of the largest mall owners in America. Its locations are focused on shopping, dining, entertainment and mixed-use destinations instead of commercial real estate high-rises. COVID-19 was naturally quite tough on Simon; however, the recovering economy and the decline of social distancing restrictions has allowed SPG to get back on track. Shares have more than doubled from this time two years ago, and Simon just gave dividend investors a lot more to like with a big boost of almost 27% in its payout this year.

Old-school tech giant IBM isn’t often included in the same conversations as dynamic and younger firms like Amazon.com Inc. (AMZN) or Google parent Alphabet Inc. (GOOG, GOOGL). However, “Big Blue” still has a lot to offer. Its deep enterprise technology relationships in software, consulting and IT infrastructure make the company tremendously profitable. Though the company forecast earnings per share north of $10.50 next fiscal year, dividends currently only add up to $6.56 annually. That means the generous dividends aren’t just sustainable but ripe for future increases down the road, even if earnings don’t grow at the outsized rates you’ll find at more ambitious Silicon Valley firms.

Big Oil companies have gotten a lot of attention this year, but integrated energy giants that have risen along with crude oil are not as generous with their dividends as smaller and more focused players like Oneok. OKE is a play on the “midstream” portion of the energy business alone, which involves transportation and storage and is not exposed to the risks of commodity price volatility. Oneok helps move natural gas around the U.S. and charges fees for that service, then passes a portion of that cash on to shareholders. Income investors will take comfort in this stable model, which supports strong cash flows regardless of the price of a barrel of oil in 2023 and beyond.

KMI is another energy infrastructure company operating across North America, with a network of natural gas and crude oil pipelines, as well as storage and processing facilities. All told, the stock owns roughly 83,000 miles of pipelines and almost 150 terminals and is valued at nearly $45 billion. With a scale like that, alongside a midstream focus that insulates it from the ups and downs in oil and gas prices, it should be no surprise that KMI is one of the most reliable income plays in the S&P 500 right now.

You may see AT&T stock in some screening tools with a higher yield, but keep in mind that is based on previous payouts before a recent spinoff of Warner Bros. Discovery Inc. (WBD) that reduced both the market value of parent AT&T along with its dividend potential. However, a new dividend run-rate of about 28 cents per share quarterly annualizes to a yield that is more than four times the typical S&P 500 component. And furthermore, the spinoff helps management focus on the core business of this long-standing telecom leader. Shares have rallied strongly since March as Wall Street has looked ahead to life after the split, and with a big-time payout there’s reason to think this run could continue in 2022.

The $100 billion tobacco icon Altria is behind some of the biggest brands in North America, including its flagship Marlboro cigarettes, Black & Mild cigars and smokeless tobacco products including Copenhagen and Skoal. Yes, the health risks of these tobacco products are real. But that doesn’t stop millions of customers from buying Altria products despite this. And with the company increasingly looking beyond this core revenue stream to cannabis-related goods and vaping products, there’s a good chance this “sin stock” will see consistent profits and generous dividends for the foreseeable future regardless of whatever morality you assign to its business model.

Lumen is a telecommunications company offering voice and data connections, along with related services including cloud solutions and cybersecurity add-ons. CenturyLink rebranded itself Lumen Technologies a few years ago, in the wake of a series of big-time acquisitions including the purchase of Level 3 Communications for about $25 billion, but despite that big price tag the current LUMN stock valuation is only about $12 billion or so. There are challenges for this second-tier telecom, including its large debt load from those previous deals. However, income investors who don’t mind the risk may be interested in the big-time yield of this top S&P dividend stock as a hedge against potentially lackluster share performance.

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