3 Dividend Stocks to Watch; PMD, CVX, MCD

Psychemedics Corp. (NASDAQ: PMD) is an Acton, Massachusetts-based provider of testing services for the detection of abused substances through the analysis of hair samples.

Psychemedics has a high dividend yield of 5.16%. The company’s shares have a 52-week range of $6.89-$11.12. Year-to-date the stock gained 12.05%.

For the first quarter of 2011, Psychemedics reported revenue of $6 million, compared with revenue of $4.5 million reported for the same period in the previous year. The company’s net income for the quarter was $858,000 or $0.16 per diluted share, compared with $506,000, or $0.10 per share reported for the same period in the previous year.

Chevron Corporation (NYSE: CVX) is a San Ramon, California-based integrated oil and gas company  engaged in petroleum operations, chemical operations, mining operations, power generation and energy services.

Chevron is a high paying dividend stock at 3.13%. The company’s shares have a 52-week range of $66.83-$109.94. Year-to-date the stock gained 8.82%.

For the first quarter of 2011 Chevron reported earnings of $6.2 billion, or $3.09 per diluted share, compared with $4.6 billion, or $2.27 per diluted share reported for the same period in the previous year. The company’s sales and other operating revenues totaled $58 billion in the first quarter, compared with $47 billion reported for the same period in the previous year.

McDonald’s Corporation (NYSE: MCD) is an Oak Brook, Illinois-based operator of McDonald’s restaurants worldwide.

McDonald’s has a dividend yield of 3.02%. The company’s shares have a 52-week range of $65.31-$83.08. Year-to-date the stock gained 5.13%.

McDonald’s reported earnings of $1.15 per share for the first quarter of 2011. The company’s first-quarter revenue climbed 9% on a year-over-year basis.

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