This Is One of the Best High-Yield Dividend Stocks to Buy (and It Yields 8%)

The trade war has caused stocks to plummet again since mid-May, but investors shouldn't worry.

After a brief recovery, the Dow has dropped another 250 points (1%), while the S&P 500 and Nasdaq have dropped another 0.9% - putting the month of May down more than 6%. That's the biggest decline since December. But this month's temporary dip is creating big opportunities for investors.

To stay ahead of the market, investors will want to focus their attention on high-yield dividend stocks. And this is especially true for domestic companies in the service and defense industries. This is because companies with U.S. operations don't rely nearly as much on global trade networks to bring in cash.

And we've uncovered the best high-yield dividend stock to buy to tackle the most recent market volatility.

While this stock hasn't completely escaped market fluctuations, it has the advantage of a hefty 8% high-yield dividend. This has us pretty excited already, but we've been bullish on this stock for over a year now thanks to its core business model.

This company has been protecting physical and digital data for close to 70 years. Currently, 95% of the Fortune 1000 companies have entrusted this firm to safeguard their information. This puts the stock in a unique position to grow regardless of Wall Street worries.

Everything from the incredible dividend yield, the potential company growth, and the upside on share price makes this a must-own stock during any market downturn.

But what makes it better is that it boasts a perfect Money Morning Stock VQScore.

Here's why this is such a strong play right now...

Why Cybersecurity Is a Booming Sector

Well before even the Internet, consumers have been concerned over privacy. But the difference between now and then is that there are many more ways for sensitive data to be stolen.

In fact, these attacks have been increasing in regularity and severity over the last few years. In 2014, eBay Inc. (NASDAQ: EBAY) announced that 145 million user accounts had been compromised. In 2017, a massive data breach at Equifax Inc. (NYSE: EFX) compromised the information of 143 million Americans.

In the first three months of 2019 alone, the Dow Jones has been breached, and the data of more than 2 million government officials has been leaked.

Cases like this not only amplify growing concerns among consumers and businesses, but with governments as well. The EU has already addressed this by establishing the Global Data Protection Regulations that apply to 28 member countries and any firm that does business in the area.

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Last year, the cybersecurity industry was valued at $137.8 billion. Money Morning Defense and Tech Specialist Michael A. Robinson predicts this figure will soar to $231.9 billion over the next four years - a growth of 68%.

And as cybercrimes continue to increase, the cyber defense industry will increase, too. This means the sector offers an incredibly lucrative opportunity for savvy investors.

This is what makes this 8% high-yield dividend stock one of the best to own right now.

One of the Best High-Yield Dividend Stocks to Buy Now

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The best dividend-paying stock to buy today is Iron Mountain Inc. (NYSE: IRM).

The company was founded by Herman Knaust in 1951, and it was named after the Hudson River Valley's depleted iron ore mine. Previously, Knaust built his wealth in the area through cultivating and selling mushrooms - even earning the unofficial title of "Mushroom King."

As the political landscape began to shift during the Cold War, Knaust switched from mushrooms to a group of secure vaults. He set up shop in New York and sold his secure storage services to clients like East River Savings bank in Manhattan.

Knaust had been previously known for his passion for data security. During World War II, he sponsored Jewish immigrants coming into America whose paperwork had been destroyed. He wanted them to feel safe and secure, knowing their new documents would remain protected from any potential nuclear attack.

Nowadays, Iron Mountain is known as a trusted source of document security, both physically and digitally. Its services span over 50 countries, and it has over 1,400 network facilities worldwide.

These facilities contain both physical and digital documentation. This includes valuables from famous individuals like Charles Dickens, Princess Diana, Frank Sinatra, Charles Darwin, and even Prince.

But what makes Iron Mountain stand out is its consistency. Over the last 22 years, it has retained over 25% of its stored valuables. Beyond this, it's expanded its operation through acquisitions in a variety of countries, including England and Singapore.

Right now, the company's biggest focus has been on penetrating high-growth sectors like energy, life science, banks, and government agencies. These alone accounted for 18% of the total growth reported in 2017.

The company provides a variety of data security services such as inventory management, document imaging, and secure information disposal.

However, last year, it also launched its service called the "Iron cloud" - a cloud-based service that safeguards and recovers important data in the event of a cyberattack. But it will also locate and destroy any intrusive software that it detects on a client's system.

Iron Mountain's history, combined with a range of services and growth prospects, means it can afford to reward its shareholders. It certainly does, with its massive 8% dividend yield.

By the end of 2018, the company reported revenue of $4.23 billion and net income of $365 million. This is expected to grow to $4.3 billion this year, and $4.47 billion in 2020.

The company's EPS for 2018 was $1.10, and it fell short of analyst predictions in Q1 2019 at $1.05. But those figures are expected to increase to $1.17 in 2020.

Before its earnings report came out in April, shares of IRM traded for $35.84. Now, they are trading at $30.68, which gives new investors an opportunity. Analysts remain bullish on this stock, with a high price target of $51 over the next year. This would give today's investor a potential upside of 66.2% over just the next 12 months.

But what makes this stock truly shine is its perfect VQScore of 4.75. This means Money Morning thinks it stands to increase even higher.

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