<p>由於 <strong>標準普爾 500 指數</strong>(^GSPC -1.46%) 的收益率僅為 1.2%，因此尋找能夠提供穩定且可觀的被動收入的公司或交易所交易基金（ETF）變得更加困難。但這並不意味着沒有可行的選擇，只要你知道在哪裏尋找。</p>
<p><strong>金佰利</strong>(KMB 2.34%)、<strong>斯馬克</strong>(SJM 3.45%) 和 <strong>先鋒總公司債 ETF</strong>(VTC 0.55%) 的收益率均超過 3%。以下是這兩隻分紅股票和這隻 ETF 值得現在購買的原因。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDQ4MTMvZ2V0dHlpbWFnZXMtMTQzNjAzODAyNy0xMjAxeDc0Mi0xNTM2YTExLmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDQ4MTMvZ2V0dHlpbWFnZXMtMTQzNjAzODAyNy0xMjAxeDc0Mi0xNTM2YTExLmpwZyZ3PTcwMA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>對於高收益分紅機會，金佰利股票是一個不錯的選擇</h2>
<p><strong>斯科特·萊文</strong> <strong>(金佰利)：</strong> 很難否認購買像金佰利這樣的領先消費品股票並觀察豐厚的分紅收入持續流入的吸引力——在過去五十多年裏，這種收入不斷增加，使得該股票獲得了 “分紅之王” 的稱號。</p>
<p>懷疑者常常對高收益分紅股票持懷疑態度，擔心公司財務狀況不穩。然而，金佰利的情況恰恰相反。收入投資者應該認真考慮在這隻股票的 3.9% 預期收益分紅仍在折扣區時點擊購買。</p>
<p>金佰利的歷史可以追溯到 1872 年，已經成長為消費品行業的主導者。無論你是依賴好奇寶寶紙尿褲來保護你的小寶貝的新父母，還是桌上放着一盒克林克斯紙巾的老師，你每天都很可能在使用金佰利的品牌——或多個品牌。</p>
<p>憑藉如此令人印象深刻的品牌組合，從嬰兒護理到成人護理，金佰利產生了強勁且穩定的現金流。這種現金流應該能緩解懷疑者對分紅不穩的擔憂。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f750974a8bb2aa3f50a764b8c1ec2457.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f750974a8bb2aa3f50a764b8c1ec2457.png"/></p>
<p>KMB 每股自由現金流（年度）數據來自 YCharts。</p>
<p>在過去十年中，金佰利顯然產生了自由現金流，以支持其對股東的分紅。而且，不僅僅是現金流證明了分紅的安全性。在過去五年中，金佰利的平均分紅支付比率為 76.6%。</p>
<p>作為一隻分紅之王，金佰利展現了對回報股東的堅定承諾。該股票的交易價格為 16.3 倍的過去收益，低於其五年平均市盈率（P/E）22.5 倍，今天似乎是購買金佰利股票的好時機。</p>
<h2>斯馬克的價格過低，值得購買</h2>
<p><strong>丹尼爾·福爾伯</strong> <strong>(斯馬克)：</strong> 像斯馬克這樣的包裝食品公司在最近幾個月遭受重創，許多行業領導者的股價徘徊在多年低點。</p>
<p>通貨膨脹對行業造成了影響，消費者在關注雜貨支出。包裝食品公司面臨着削弱的定價能力和對其產品需求的雙重打擊，因此行業不受歡迎是可以理解的。但這次拋售可能過於激烈，尤其是對於像斯馬克這樣的頂級公司。</p>
<p>該公司的品牌——如 Jif、Uncrustables、Milk-Bone、Hostess 等——涵蓋了咖啡、冷凍食品、零食、塗抹醬、寵物食品、烘焙食品等多個類別。斯馬克近年來的增長並不出色，但收入仍處於歷史最高水平，利潤率也很優秀。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3e824ccf6990afef0cbead2c6af510ee.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3e824ccf6990afef0cbead2c6af510ee.png"/></p>
<p>SJM 數據來自 YCharts。</p>
<p>更重要的是，該公司的市盈率僅為 10.5。這對於一家擁有穩健品牌的平衡公司來説，實在是太便宜了，無法忽視。</p>
<p>更重要的是，斯馬克已經連續 23 年提高分紅，收益率為 3.8%。與 <strong>卡夫亨氏</strong>、<strong>通用磨坊</strong>、<strong>坎貝爾</strong> 和 <strong>康尼格拉品牌</strong> 等同行相比，這一分紅增長的持續時間要長得多。然而，想要在包裝食品公司中尋找最佳記錄的投資者應該更仔細地關注分紅之王 <strong>霍梅爾食品</strong>——該公司連續 59 年提高分紅。</p>
<p>在價格接近五年低點時，投資者正獲得絕佳機會，以低價購買斯馬克的股票，同時增加他們的被動收入來源。</p>
<p>通過投資 2500 美元於斯馬克，你可以預計在 2025 年獲得約 95 美元的被動收入。</p>
<h2>歷史表明這隻公司債券具有良好的價值</h2>
<p><strong>李·薩馬哈</strong> <strong>(先鋒公司債 ETF)：</strong> 如果你曾聽過投資格言 “不要與美聯儲對抗”，並對此表示贊同，那麼這隻收益率為 4.5% 的公司債 ETF 將引起你的興趣。</p>
<p>對於不熟悉的人來説，這與避免與羅傑·費德勒、包裹投遞員或 FBI 特工發生衝突無關。相反，這意味着不要在利率上採取與美聯儲利率變動方向相反的立場。</p>
<p>然而，這正是債券市場最近所做的。下圖顯示美聯儲降低了利率。然而，債券市場卻通過出售債券提高利率——基準 10 年期國債收益率高於美聯儲降息時的水平。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/bd64c0dcf237c5a0fc07e2f24089b7c4.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/bd64c0dcf237c5a0fc07e2f24089b7c4.png"/></p>
<p>10 年期國債利率數據來自 YCharts。</p>
<p>此外，如下所示，市場利率與高質量公司債券之間往往存在反向關係。這是完全合理的，因為當國債收益率上升時，公司債券收益率上升，這意味着公司債券價格下跌。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1614ae906ae474ea1e82aa437d46043f.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1614ae906ae474ea1e82aa437d46043f.png"/></p>
<p>VTC 數據來自 YCharts。</p>
<p>如果你相信歷史會佔上風，市場與美聯儲的鬥爭將會結束，那麼這個債券 ETF 是一個極好的投資選擇。它採用了 “ETF 中的 ETF” 結構，投資於另外三個 Vanguard ETF，這些 ETF 都不持有低於（低違約風險）“BBB-” 評級的公司債券。如果公司債券收益率下降（而債券價格上漲），這個 ETF 可能會產生顯著的回報，而且投資者以 4.5% 的收益率買入也是一個不錯的選擇。</p>

斯馬克

Vanguard國際債券ETF

<p>這篇文章討論了兩隻支付股息的股票，金佰利（Kimberly-Clark）和斯馬克（J.M. Smucker），以及 Vanguard 國際債券 ETF，所有這些的收益率均超過 3.5%。金佰利作為 “股息之王”，提供 3.9% 的收益率，擁有強勁的現金流和低市盈率，使其成為一個穩健的投資選擇。儘管斯馬克最近面臨一些挑戰，但其收益率為 3.8%，市盈率僅為 10.5，呈現出一個買入機會。Vanguard 國際債券 ETF 的收益率為 4.5%，對關注美聯儲趨勢的投資者具有吸引力</p>

<p>With the <strong>S&amp;P 500</strong>(^GSPC -1.46%) yield at just 1.2%, it has become more challenging to find companies or exchange-traded funds (ETFs) that can provide a steady and sizable stream of passive income. But that doesn't mean there aren't viable options if you know where to look.</p>
<div class="lb-trans"><p>由於 <strong>標準普爾 500 指數</strong>(^GSPC -1.46%) 的收益率僅為 1.2%，因此尋找能夠提供穩定且可觀的被動收入的公司或交易所交易基金（ETF）變得更加困難。但這並不意味着沒有可行的選擇，只要你知道在哪裏尋找。</p>
</div><p><strong>Kimberly-Clark</strong>(KMB 2.34%), <strong>J.M. Smucker</strong>(SJM 3.45%), and the <strong>Vanguard Total Corporate Bond ETF</strong>(VTC 0.55%) all yield over 3%. Here's why these two dividend stocks and this ETF are worth buying now.</p>
<div class="lb-trans"><p><strong>金佰利</strong>(KMB 2.34%)、<strong>斯馬克</strong>(SJM 3.45%) 和 <strong>先鋒總公司債 ETF</strong>(VTC 0.55%) 的收益率均超過 3%。以下是這兩隻分紅股票和這隻 ETF 值得現在購買的原因。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDQ4MTMvZ2V0dHlpbWFnZXMtMTQzNjAzODAyNy0xMjAxeDc0Mi0xNTM2YTExLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F804813%2Fgettyimages-1436038027-1201x742-1536a11.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>For a high-yield dividend opportunity at bargain prices, Kimberly-Clark stock is a great choice</h2>
<div class="lb-trans"><h2>對於高收益分紅機會，金佰利股票是一個不錯的選擇</h2>
</div><p><strong>Scott Levine</strong> <strong>(Kimberly-Clark):</strong> It's hard to argue with the allure of picking up a leading consumer staples stock like Kimberly-Clark and watching the ample dividend income consistently roll in -- as it has done at increasingly higher amounts for over five decades, resulting in the stock earning the title of Dividend King.</p>
<div class="lb-trans"><p><strong>斯科特·萊文</strong> <strong>(金佰利)：</strong> 很難否認購買像金佰利這樣的領先消費品股票並觀察豐厚的分紅收入持續流入的吸引力——在過去五十多年裏，這種收入不斷增加，使得該股票獲得了 “分紅之王” 的稱號。</p>
</div><p>Skeptics will often balk at high-yield dividend stocks for fear that the company is not standing on firm financial footing. However, this is hardly the case with Kimberly-Clark. Income investors would be well-served to strongly consider clicking the buy button on the stock -- along with its 3.9% forward-yielding dividend -- while it's hanging on the discount rack.</p>
<div class="lb-trans"><p>懷疑者常常對高收益分紅股票持懷疑態度，擔心公司財務狀況不穩。然而，金佰利的情況恰恰相反。收入投資者應該認真考慮在這隻股票的 3.9% 預期收益分紅仍在折扣區時點擊購買。</p>
</div><p>With a history dating back to 1872, Kimberly-Clark has grown into a dominant player in the consumer staples industry. Whether you're a new parent who relies on Huggies to protect your little one or a teacher with a box of Kleenex on your desk, the odds are extremely strong that you're using a Kimberly-Clark brand -- or several -- on a daily basis.</p>
<div class="lb-trans"><p>金佰利的歷史可以追溯到 1872 年，已經成長為消費品行業的主導者。無論你是依賴好奇寶寶紙尿褲來保護你的小寶貝的新父母，還是桌上放着一盒克林克斯紙巾的老師，你每天都很可能在使用金佰利的品牌——或多個品牌。</p>
</div><p>With such an impressive portfolio of brands, ranging from baby care to adult care, Kimberly-Clark generates strong and consistent cash flow. This cash flow should assuage skeptics' concerns that the dividend is on shaky ground.</p>
<div class="lb-trans"><p>憑藉如此令人印象深刻的品牌組合，從嬰兒護理到成人護理，金佰利產生了強勁且穩定的現金流。這種現金流應該能緩解懷疑者對分紅不穩的擔憂。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f750974a8bb2aa3f50a764b8c1ec2457.png" alt="" original-src="https://media.ycharts.com/charts/f750974a8bb2aa3f50a764b8c1ec2457.png"/></p>
<p>KMB Free Cash Flow Per Share (Annual) data by YCharts.</p>
<div class="lb-trans"><p>KMB 每股自由現金流（年度）數據來自 YCharts。</p>
</div><p>Over the past decade, it's clear that Kimberly-Clark has generated free cash flow from which it can source its payout to shareholders. And it's not only the cash flow that speaks to the security of the payout. Over the past five years, Kimberly-Clark has averaged a 76.6% payout ratio.</p>
<div class="lb-trans"><p>在過去十年中，金佰利顯然產生了自由現金流，以支持其對股東的分紅。而且，不僅僅是現金流證明了分紅的安全性。在過去五年中，金佰利的平均分紅支付比率為 76.6%。</p>
</div><p>As a Dividend King, Kimberly-Clark has demonstrated a steadfast commitment to rewarding shareholders. With the stock trading at 16.3 times trailing earnings, a discount to its five-year average price-to-earnings (P/E) ratio of 22.5, today seems like a great time to load up the shopping cart with Kimberly-Clark stock.</p>
<div class="lb-trans"><p>作為一隻分紅之王，金佰利展現了對回報股東的堅定承諾。該股票的交易價格為 16.3 倍的過去收益，低於其五年平均市盈率（P/E）22.5 倍，今天似乎是購買金佰利股票的好時機。</p>
</div><h2>J.M. Smucker is too deep in the bargain bin to pass up</h2>
<div class="lb-trans"><h2>斯馬克的價格過低，值得購買</h2>
</div><p><strong>Daniel Foelber (J.M. Smucker):</strong> Packaged-food companies like J.M. Smucker have gotten hammered in recent months, with many industry leaders hovering around multi-year lows.</p>
<div class="lb-trans"><p><strong>丹尼爾·福爾伯</strong> <strong>(斯馬克)：</strong> 像斯馬克這樣的包裝食品公司在最近幾個月遭受重創，許多行業領導者的股價徘徊在多年低點。</p>
</div><p>Inflation is taking its toll on the industry as buyers watch grocery spending. Packaged-food companies face a one-two punch of weakening pricing power and demand for their products, so it's understandable why the industry is out of favor. But the sell-off has arguably gone too far, especially for a top company like J.M. Smucker.</p>
<div class="lb-trans"><p>通貨膨脹對行業造成了影響，消費者在關注雜貨支出。包裝食品公司面臨着削弱的定價能力和對其產品需求的雙重打擊，因此行業不受歡迎是可以理解的。但這次拋售可能過於激烈，尤其是對於像斯馬克這樣的頂級公司。</p>
</div><p>The company's brands -- like Jif, Uncrustables, Milk-Bone, Hostess, and others -- span various categories, including coffee, frozen foods, snacks, spreads, pet food, baked foods, and more. J.M. Smucker's growth hasn't been stellar in recent years, but revenue is still at an all-time high, and margins are excellent.</p>
<div class="lb-trans"><p>該公司的品牌——如 Jif、Uncrustables、Milk-Bone、Hostess 等——涵蓋了咖啡、冷凍食品、零食、塗抹醬、寵物食品、烘焙食品等多個類別。斯馬克近年來的增長並不出色，但收入仍處於歷史最高水平，利潤率也很優秀。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3e824ccf6990afef0cbead2c6af510ee.png" alt="" original-src="https://media.ycharts.com/charts/3e824ccf6990afef0cbead2c6af510ee.png"/></p>
<p>SJM data by YCharts.</p>
<div class="lb-trans"><p>SJM 數據來自 YCharts。</p>
</div><p>What's more, the company sports a P/E ratio of just 10.5. That's simply too cheap to ignore for a balanced company with solid brands.</p>
<div class="lb-trans"><p>更重要的是，該公司的市盈率僅為 10.5。這對於一家擁有穩健品牌的平衡公司來説，實在是太便宜了，無法忽視。</p>
</div><p>To top it all off, J.M. Smucker has 23 consecutive years of dividend increases and a yield of 3.8%. That's a far longer streak of increasing the payout compared to peers like <strong>Kraft Heinz</strong>, <strong>General Mills</strong>, <strong>Campbell's</strong>, and <strong>Conagra Brands</strong>. However, investors looking for the ultimate track record among packaged-food companies should take a closer look at Dividend King <strong>Hormel Foods</strong> -- which has 59 consecutive years of dividend raises.</p>
<div class="lb-trans"><p>更重要的是，斯馬克已經連續 23 年提高分紅，收益率為 3.8%。與 <strong>卡夫亨氏</strong>、<strong>通用磨坊</strong>、<strong>坎貝爾</strong> 和 <strong>康尼格拉品牌</strong> 等同行相比，這一分紅增長的持續時間要長得多。然而，想要在包裝食品公司中尋找最佳記錄的投資者應該更仔細地關注分紅之王 <strong>霍梅爾食品</strong>——該公司連續 59 年提高分紅。</p>
</div><p>With its price around a five-year low, investors are getting an excellent opportunity to scoop up shares of J.M. Smucker while boosting their passive income stream.</p>
<div class="lb-trans"><p>在價格接近五年低點時，投資者正獲得絕佳機會，以低價購買斯馬克的股票，同時增加他們的被動收入來源。</p>
</div><p>By investing $2,500 in J.M. Smucker, you can expect to earn about $95 in passive income in 2025.</p>
<div class="lb-trans"><p>通過投資 2500 美元於斯馬克，你可以預計在 2025 年獲得約 95 美元的被動收入。</p>
</div><h2>History suggests this corporate bond is a good value</h2>
<div class="lb-trans"><h2>歷史表明這隻公司債券具有良好的價值</h2>
</div><p><strong>Lee Samaha</strong> <strong>(The Vanguard Corporate Bond ETF):</strong> If you ever heard the investment maxim &#34;Don't fight the Fed&#34; and are sympathetic to it, then this 4.5%-yielding corporate bond ETF will interest you.</p>
<div class="lb-trans"><p><strong>李·薩馬哈</strong> <strong>(先鋒公司債 ETF)：</strong> 如果你曾聽過投資格言 “不要與美聯儲對抗”，並對此表示贊同，那麼這隻收益率為 4.5% 的公司債 ETF 將引起你的興趣。</p>
</div><p>For the uninitiated, this isn't anything to do with avoiding a punchup with Roger Federer, a package delivery worker, or an FBI agent. Instead, it means not taking a position on interest rates that's in opposition to the direction of the Federal Reserve's interest rate movements.</p>
<div class="lb-trans"><p>對於不熟悉的人來説，這與避免與羅傑·費德勒、包裹投遞員或 FBI 特工發生衝突無關。相反，這意味着不要在利率上採取與美聯儲利率變動方向相反的立場。</p>
</div><p>However, that's precisely what the bond market has done recently. The chart below shows the Federal Reserve reducing its interest rates. Still, the bond markets are raising interest rates by selling bonds -- the benchmark 10-year Treasury yield is higher than when the Federal Reserve cut rates.</p>
<div class="lb-trans"><p>然而，這正是債券市場最近所做的。下圖顯示美聯儲降低了利率。然而，債券市場卻通過出售債券提高利率——基準 10 年期國債收益率高於美聯儲降息時的水平。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/bd64c0dcf237c5a0fc07e2f24089b7c4.png" alt="" original-src="https://media.ycharts.com/charts/bd64c0dcf237c5a0fc07e2f24089b7c4.png"/></p>
<p>10-Year Treasury Rate data by YCharts.</p>
<div class="lb-trans"><p>10 年期國債利率數據來自 YCharts。</p>
</div><p>Furthermore, as shown below, market rates and high-quality corporate bonds tend to have an inverse relationship. This makes perfect sense, as when Treasury yields go up, corporate bond yields go up, meaning corporate bond prices go down.</p>
<div class="lb-trans"><p>此外，如下所示，市場利率與高質量公司債券之間往往存在反向關係。這是完全合理的，因為當國債收益率上升時，公司債券收益率上升，這意味着公司債券價格下跌。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1614ae906ae474ea1e82aa437d46043f.png" alt="" original-src="https://media.ycharts.com/charts/1614ae906ae474ea1e82aa437d46043f.png"/></p>
<p>VTC data by YCharts.</p>
<div class="lb-trans"><p>VTC 數據來自 YCharts。</p>
</div><p>If you believe that history will prevail and the market fighting the Fed will end, this bond ETF is an excellent buy. It has an &#34;ETF of ETF&#34; structure whereby it invests in three other Vanguard ETFs, all of which hold no corporate bonds with a lower than (low default risk) &#34;BBB-&#34; rating. If corporate bond yields decline (and bond prices rise) this ETF could generate significant returns, and it doesn't hurt that investors are buying in at a 4.5% yield.</p>
<div class="lb-trans"><p>如果你相信歷史會佔上風，市場與美聯儲的鬥爭將會結束，那麼這個債券 ETF 是一個極好的投資選擇。它採用了 “ETF 中的 ETF” 結構，投資於另外三個 Vanguard ETF，這些 ETF 都不持有低於（低違約風險）“BBB-” 評級的公司債券。如果公司債券收益率下降（而債券價格上漲），這個 ETF 可能會產生顯著的回報，而且投資者以 4.5% 的收益率買入也是一個不錯的選擇。</p>
</div>

2 Dividend-Paying Stocks and 1 ETF With Yields Over 3.5% to Buy in 2025

- S&P 500 收益率僅為 1.2%，尋找穩定的被動收入變得困難。  
- Kimberly-Clark 和 J.M. Smucker 的股息收益率均超過 3%。  
- Vanguard Corporate Bond ETF 提供 4.5% 的收益率，適合投資者。

2025 年值得購買的 2 只股息支付股票和 1 只收益率超過 3.5% 的 ETF