Derf, >> to find a high yielding dividend paying stock with a low P/E <<
Here are some dividend stocks ideas (link below), with yields of 2% or more. I recently added some additional REITS figuring that these should benefit as % rates come down over the next several years. As a sector, the REITS got hit by the Fed tightening, and also from the commercial / office real estate problems. I figure that sub-sector should probably still be avoided, but the other REIT areas should gradually recover and most have nice dividend yields --> data center REITS, industrial warehouse REITS, wireless tower REITS, and the storage REITS. There's also a roadside ad / billboard REIT (LAMR) that has done well over time and has a dividend yield over 4%.
Another high dividend area I recently added are several pipeline stocks - ENB, TRP, which are yielding over 7%. These are a lot less volatile than regular energy stocks, and I figure even if they don't go up, the 7% dividend by itself is a good enough reason to own them for the long term. I only have small positions though. Owning these (ENB, TRP) also avoids the tax reporting problems of the pipeline LPs.
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