2 High-Yielding Dividend Stocks to Buy for Passive Income in April

April has been a fairly volatile month for equities, and things may not settle down soon. Inflation is rising, and some experts are increasingly warning of a potential recession. In this environment, it helps to invest in dividend stocks. The passive income they provide can help smooth out market losses in case the recent economic and geopolitical challenges lead to a market crash. Even if that doesn't happen, reinvesting dividends is a great way to boost long-term returns. With that in mind, let's consider two high-yielding dividend stocks to consider this April: Pfizer (NYSE: PFE) and Medical Properties Trust (NYSE: MPT).

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1. Pfizer

Pfizer boasts a juicy forward dividend yield of 6.4%. But between poor financial results and stiff competition in some areas, is it sustainable? In my view, it is. One of Pfizer's strengths is its deep portfolio of approved medicines. Even putting aside minor drugs or vaccines that make little revenue and don't meaningfully move the needle for the company, Pfizer had several drugs that generated over $1 billion in sales last year.

True, some of these will lose patent exclusivity soon. That's the case with Pfizer's anticoagulant, Eliquis. The company's coronavirus franchise is also not on solid footing. However, newer products will help it move beyond those issues. Pfizer's Abrysvo, a vaccine for the respiratory syncytial virus, was first approved in 2023. Last year, it generated about $1 billion in sales, up 37% year over year.

Elrexfio, a cancer drug approved in 2023, is also making progress. Last year, its revenue totaled $304 million, up from $103 million in 2024.

Pfizer's current crop of newer medicines likely won't be enough to replace older ones whose sales are already dropping or will start to decline in the next few years. But the company's rich pipeline will help address that problem. Pfizer has started plenty of phase 3 studies over the past couple of years, with more on the horizon.

The company should make significant clinical and regulatory progress through 2030. By then, Pfizer could have a much rejuvenated portfolio of approved medicines and much better financial results. The company hasn't cut its dividend despite the troubles it has encountered, and it is unlikely to do so soon, making it an attractive blue chip dividend stock.

2. Medical Properties Trust

Medical Properties Trust (MPT) is a healthcare-focused real estate investment trust (REIT). Over the past few years, the company has faced challenges, including some of its tenants defaulting on rent and going bankrupt. MPT made difficult but necessary decisions to deal with these issues. The company cut its dividend -- twice -- and sold some assets.

It also put new tenants in the facilities occupied by some of its older ones that went bankrupt. MPT emerged from this ordeal a more diversified company whose business is less likely to suffer significantly from the misfortunes of one or two tenants.

However, investors might still wonder whether the company's monster forward yield of 7% is safe, especially given the uncertain economic landscape we face. My view is that it is. Any REIT can face tenant rent defaults -- as MPT did -- but medical-focused REITs are arguably safer than many others, since healthcare is a defensive sector. MPT is unlikely to encounter the same challenges anytime soon. As evidence of the company's confidence in the recovery of its underlying business and its willingness to reward shareholders, MPT announced last year that it would increase its dividend.

MPT's rebound isn't complete. The stock is still down significantly over the past three years. However, the REIT is well-positioned to perform well over the long run as its business stabilizes. MPT is an attractive, high-yielding dividend stock for long-term income seekers.

Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Pfizer. The Motley Fool has a disclosure policy.