Why I'd Still Buy This 10%-Yielding Dividend Stock After the Fed's Latest Hike

The Federal Reserve raised rates by 25 basis points with more hikes expected, creating headwinds for high-yield dividend stocks. However, Ares Capital (ARCC), yielding over 10%, could benefit from rising rates since 71% of its investment portfolio is in floating-rate debt, which generates more income as rates rise. The company has a 17-year track record of maintaining stable and growing dividends through previous rate-hike cycles, making it an attractive buying opportunity despite near-term stock price pressure.