This Safe Dividend Stock Is Up Around 30% in 2020

Finding a quality dividend stock that’s performing well these days is hard to find. Many have cut or suspended their payouts, and many more are in danger. But one dividend stock that’s still a safe buy is Jamieson Wellness (TSX:JWEL). While it doesn’t pay a huge dividend with its yield around 1.3%, it’s still a better rate than what you can earn at your local bank these days. And what makes it an even more attractive buy is that the stock’s been soaring in 2020, up around 29% since the beginning of the year. The TSX, meanwhile, has fallen 14% during the same period.

Jamieson, known for its vitamins and health products all over the world, is one of the safer buys during the COVID-19 pandemic. The company released its quarterly results earlier this month and it noted that consumer spending was up as people were loading up on health products. The company’s sales were up 16.5% and its adjusted EBITDA grew by 15.2% as well.

The stock’s normally been a safe buy, but there hasn’t been much to get excited about before. But now, with healthcare growing in importance for consumers, Jamieson can become a much more attractive investment to make. If nothing else, it’s a safe place to store your money today where you can earn some decent dividend income.

Whether you’re a long-term investor or just want to ride out the pandemic with a safe investment, Jamieson Wellness is a solid dividend stock you can put in your portfolio today.