3 Stocks to Earn Dividends Every October

Whether you’re pulling in a paycheck or living off investments, dividends can be a great way to reel in some cash.

Many companies dole out dividends in March, June, September and December. If all your payments land in that timetable, your income stream can dry up for long stretches.

To keep the cash flowing right through vacation, we sorted through payment dates to identify when companies pay out. We focused on firms with steady businesses, sturdy balance sheets and a commitment to uphold their payouts. Check out these offerings that deliver treats every October, listed in alphabetical order. (Prices and data are as of June 30.)

Cardinal Health

Symbol: CAH

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Price: $84

Yield: 2.2%

Annual dividend rate: $1.80

Price-earnings ratio: 15

Also pays in: January, April, July

Drug distributor Cardinal runs a high-volume, low-profit-margin business that faces heavy pressure from rivals. But Cardinal is taking measures to fire up its growth.

The firm recently acquired Johnson & Johnson’s Cordis unit, which makes stents and other cardiology devices. Cardinal expects Cordis to bolster the firm’s international sales and boost annual earnings by more than 20 cents per share, or $65 million. Moreover, Cardinal has teamed up with CVS Health (its biggest customer) to buy generic drugs, helping Cardinal negotiate better deals that could lift its profits.

Wall Street estimates that profits will climb 8% in the fiscal year that ends in June 2017. As the business improves, the shares should hit $97 over the next year, says Credit Suisse, which rates the stock “outperform.”

Daren Fonda
Senior Associate Editor, Kiplinger's Personal Finance
Daren joined Kiplinger in July 2015 after spending more than 20 years in New York City as a business and financial writer. He spent seven years at Time magazine and joined SmartMoney in 2007, where he wrote about investing and contributed car reviews to the magazine. Daren also worked as a writer in the fund industry for Janus Capital and Fidelity Investments and has been licensed as a Series 7 securities representative.