2 Dividend Stocks The Activist Investor Behind Disney Has Also Been Buying

Activist investor Dan Loeb is the Chief Executive Officer and founder of hedge fund Third Point Management, which has recently opened a stake in The Walt Disney Company DIS of 1,000,000 shares.

Besides acquiring growth stocks, Third Point Management is also diversified in defensive positions that provide everyday necessities and offer strong dividends. Here are two dividend stocks Third Point is holding in its portfolio.

Colgate-Palmolive Company CL is offering a dividend yield of 2.29% or $1.88 per share annually making quarterly payments, with a multi-decade track record of raising its dividends over the past 58 years. Colgate-Palmolive has grown to become a leading global consumer product company, as the firm manufactures shampoos, shower gels, deodorants, and home care products that are sold in over 200 countries.

Third Point Management opened a new position in Colgate-Palmolive over the course of the second quarter of 1,985,000 shares.

Also Read: These Investment Wines Have Outperformed Apple, Ford And Tesla Over The Past Year

DuPont de Nemours Inc DD is offering a dividend yield of 2.27% or $1.32 per share annually making quarterly payments, with an inconsistent track record of raising its dividends. DuPont de Nemours is a diversified global specialty chemicals company, with a portfolio that includes specialty chemicals and downstream products that serve the electronics and communication, automotive, construction, safety and protection, and water management industries.

Loeb nibbled at Third Point’s stake in DuPont as the position decreased by 280,000 shares throughout the second quarter of 2022, as the fund now holds just over 3 million shares.