10 Best Dividend Stocks of 2024

5. Applied Materials, Inc. (NASDAQ:AMAT)

Year-to-Date Returns as of May 20: 42.4%

Applied Materials, Inc. (NASDAQ:AMAT) is an American manufacturing company that provides materials engineering solutions. The company’s revenue of $6.65 billion in the second quarter of 2024 fell in line with its revenue from a year-ago period. During the quarter, it generated $1.39 billion in operating cash flow and distributed $266 million to shareholders through dividends.

Applied Materials, Inc. (NASDAQ:AMAT), one of the best dividend stocks, delivered a 42.4% return since the start of 2024. The company offers a quarterly dividend of $0.40 per share, growing it by 25% in March this year. This marked the company’s seventh consecutive year of dividend growth. The stock’s dividend yield on May 21 came in at 0.73%.

Applied Materials, Inc. (NASDAQ:AMAT) was a part of 70 hedge fund portfolios at the end of Q4 2023, up from 68 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these hedge funds have a collective value of over $6.1 billion.