With a Yield of Almost 10%, Is This Dirt Cheap Dividend Stock a Buy in 2024?

Let's do a little back-of-napkin math to understand the value of a 9.5% dividend yield. Assuming all dividends received are reinvested at the same yield and no share price appreciation, a $10,000 position would soar to $20,669 in just eight years, more than doubling your money based on dividends alone. And in 20 years, your position would be worth a jaw-dropping $61,416. Unsurprisingly, such a generous payout strongly appeals to people saving for retirement and other long-term investors.With that in mind, l ...