Pfizer's Dividend Yield Is One of the Highest in the S&P 500. Here's Why the Dividend Is Safer Than It Might Seem

But is Pfizer (NYSE: PFE) one of them? On the one hand, the drugmaker has one of the highest yields in the index. However, some would point out that Pfizer has faced significant challenges and still has important ones on the horizon. Still, in my view, Pfizer is an attractive income stock to buy and hold. Here's why the dividend is safer than it appears at first. Reduced demand for coronavirus products has affected Pfizer's financial results in recent years. In the second quarter, the company's COVID-19 vaccine, Comirnaty, reported $261 million in sales, down 32% year over year. Pfizer's coronavirus medicine, Paxlovid, performed even worse.