10 Best Dividend Stocks of 2024

4. Jackson Financial Inc. (NYSE:JXN)

Year-to-Date Returns as of May 20: 53.8%

Jackson Financial Inc. (NYSE:JXN) is an American financial services company. In the first quarter of 2024, the company remained committed to its shareholder obligation, returning $172 million to investors, including $56 million in dividends. It started paying dividends in 2021 and has raised its payouts every year since then. The company currently pays a quarterly dividend of $0.70 per share and has a dividend yield of 3.61%, as of May 21. Since the start of 2024, the stock has delivered a 53.8% return to shareholders, which makes JXN one of the best dividend stocks of 2024.

Jackson Financial Inc. (NYSE:JXN) was included in 26 hedge fund portfolios at the end of Q4 2023, up from 19 in the previous quarter, according to Insider Monkey’s database. Among these hedge funds, Mangrove Partners was the company’s leading stakeholder in Q4.

Here is what Miller Value Partners had to say about Jackson Financial Inc. (NYSE:JXN) in its Q1 2024 investor letter:

“Jackson Financial Inc. (NYSE:JXN) reported 4Q23 adjusted operating EPS of $2.53, compared to 4Q22 EPS of $5.66, below consensus of $3.49. Registered index-linked annuity (RILA) sales rose 78.6% Y/Y to $1.0B in the quarter, while FY23 annuity sales fell -18.5% Y/Y to $12.8B. The company returned $117MM to shareholders in 4Q23, bringing FY23 shareholder capital returns to $464MM, or ~9.1% of the company’s market cap. Management raised its quarterly dividend by 12.9% to $0.70/share (~4.2% yield), and established a 2024 shareholder capital return target of $600MM (11.7% of market cap) at the midpoint.”