3 Magnificent S&P 500 Dividend Stocks Down 30% (or More) to Buy and Hold Forever

Group 1: Realty Income - Realty Income has an investment-grade balance sheet and has increased its dividend annually for 29 consecutive years, with a current dividend yield near a 10-year high at 5.5% [2] - The stock price has declined approximately 30% from its 2020 highs due to rising interest rates, which pressure REIT profits [2] - Realty Income's extensive portfolio across the U.S. and Europe provides multiple growth opportunities despite current market challenges [2][3] Group 2: Franklin Resources - Franklin Resources ended Q1 2024 with approximately $1.6 trillion in assets under management, benefiting from a 16% increase in assets due to rising stock prices [4] - The company has increased its dividend annually for 44 consecutive years, although its stock has declined roughly 35% since late 2021 due to concerns over mutual fund outflows [4][5] - Franklin is diversifying into exchange-traded funds and alternative investments to mitigate the impact of mutual fund challenges [5] Group 3: Hormel Foods - Hormel Foods is a Dividend King with 58 consecutive years of annual dividend increases, and its stock price has declined around 35% from recent highs in 2022, resulting in a yield of 3.2% [6][7] - The company faces challenges such as inflation, avian flu, and a slow recovery in China, but these issues are considered surmountable individually [7] - Recent fiscal first-quarter earnings results indicate that Hormel is starting to regain its footing, making it a potentially attractive investment for long-term dividend yield [7]