10 Best Dividend-Paying Beverage Stocks to Buy

8. Molson Coors Beverage Company (NYSE:TAP)

Number of Hedge Fund Holders: 34

Next on our list of the Best Beverage Dividend Stocks is Molson Coors Beverage Company (NYSE:TAP), a multinational beverage and brewing giant with a diverse portfolio that expands beyond the beer aisle with energy drinks, non-alcoholic beer, canned cocktails, ready-to-drink coffee, and more.

Molson Coors Beverage Company (NYSE:TAP) struggled in the US market in Q4 2024, primarily due to a challenging macroeconomic environment and the wind-down of the company’s two-decade-long contract agreement with Pabst Brewing Company. Net sales of Molson Coors dropped by almost 2% YoY during the quarter to $2.74 billion but were still above analysts’ estimates by over $31.6 million. The company’s EPS of $1.3 also beat forecasts of $1.13, causing its stock to surge by over 11% since February 10, 2024.

Molson Coors Beverage Company (NYSE:TAP) delivered strong cash generation in 2024, with an annual free cash flow of over $1.24 billion. The beverage giant also returned over $1 billion in cash to shareholders during the year in the form of share buybacks and dividends.

Though the company has witnessed a decrease in financial volumes, Molson Coors Beverage Company (NYSE:TAP)’s core brands remain healthy. According to Circana, in Q4 2024, Coors Light, Miller Lite, and Coors Banquet retained over 80% of their combined volume share gains of the industry versus a year ago, which is an improvement over the second and third quarters.