10 Best Dividend Stocks with High Yields

In this article, we will take a look at 10 dividend stocks with high yields. You can skip our detailed analysis of dividend investing in 2021 and go directly to see 5 Best Dividend Stocks with High Yields.

Dividend investing is extremely tempting, yet full of caveats. That’s why experts often recommend paying attention to not just the dividend yields but also to the fundamentals of dividend stocks to gauge their stability and dividend safety before investing.

For example, Eastman Kodak Company (NYSE: KODK) had been one of the forerunners in the photography equipment industry back in the 1970s and continued on that high for a couple of decades before it began to financially struggle. Before its years of struggle arose, Eastman Kodak Company (NYSE: KODK) had been paying consistent dividends for decades, and up to 2003, their dividend yield was an average of 6.7%. But that very year is when the company decided to succumb to financial pressure and cut its dividend by 43%, making the yield fall to 1.9%, to the dismay of its shareholders. Unfortunately, the trend of financial weakness continued until April 2009 despite the company’s attempts to stem the flow of such weakness. Finally, Eastman Kodak Company (NYSE: KODK) announced an end to its dividend-paying years. In 2012, the company tragically went bankrupt.

If you think you’re ready to begin your dividend investing career, then I’m sure you would have the financial foresight to differentiate companies like Eastman Kodak Company (NYSE: KODK) from the good ones, like The Coca-Cola Company (NYSE: KO), The Procter and Gamble Company (NYSE: PG) and Colgate-Palmolive Company (NYSE: CL). I’m mentioning these stocks in particular because they fall in the list of those so-called ‘Dividend Kings’ that have consistently and reliably increased their dividends for over 50 years, and have done so while retaining their own financial stability.

The Coca-Cola Company (NYSE: KO) for instance, has a dividend yield of 3% and 59 years of consecutive dividend growth under its belt. It also just so happens to be a multinational brand that almost everyone across the globe has heard of, and thus has managed to rack up quite an impressive reputation for itself among consumers and shareholders alike. The Procter and Gamble Company (NYSE: PG), like The Coca-Cola Company (NYSE: KO), has an impressive number of consecutive years of dividend growth (64 years) and a dividend yield that has crossed the 2% mark. This company also had a cash dividend payout ratio of 50% in the past 12 months. The Procter and Gamble Company (NYSE: PG) is one of the most reliable and consistent in terms of financial stability and dividend investing. Lastly, Colgate-Palmolive Company (NYSE: CL) is in the same boat, with 58 consecutive years of dividend growth and the reputation to match those of both The Coca-Cola Company (NYSE: KO) and The Procter and Gamble Company (NYSE: PG). This company had a cash dividend payout ratio of 53% in the past 12 months and as such, has become one of the few dividend stocks investors can trust in

Photo by Jp Valery on Unsplash

But in this article our focus would on high-yield dividend stocks.

Best Dividend Stocks with High Yields

10. Guggenheim Strategic Opportunities Fund (NYSE: GOF)

Dividend yield: 10%

Guggenheim Strategic Opportunities Fund (NYSE: GOF) is a “closed-ended balanced mutual fund.” Its headquarters are in Chicago, Illinois, and it was founded in 2006. 

With a market capitalization of $1.02 billion and a dividend yield currently valued at 10%.

9. Cherry Hill Mortgage Investment Corporation (NYSE: CHMI)

Dividend yield: 10.33%

Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) is a real estate investment trust company. The stock ranks 9th on our list of dividend stocks with high yields, with its 10.33% dividend yield. Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) was founded in 2012 and is based in Wall Township, New Jersey, in the US.

Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) announced a GAAP EPS in Q121 of $1.07, and a net interest income of $5.87 million, although this is a 26.2% fall year over year. The stock gained 18.62% year to date and has a market value of $178.6 million. As of 11th June, Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) had one “Hold,” and three “Buy” ratings, giving the stock a consensus rating of “Buy”.

Like The Coca-Cola Company (NYSE: KO), The Procter and Gamble Company (NYSE: PG), and Colgate-Palmolive Company (NYSE: CL), Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) is a good dividend stock to invest in.

8. Clough Global Dividend and Income Fund (NYSE: GLV)

Dividend yield: 10.57%

This closed-end management investment company founded in 2004 and based in Denver, Colorado. The investment advisor for Clough Global Dividend and Income Fund (NYSE: GLV) is Clough Capital Partners L.P.

On April 9th, Clough Global Dividend and Income Fund (NYSE: GLV) made an announcement declaring a monthly cash distribution of $0.09 per common share. Additionally, Clough Global Dividend and Income Fund’s (NYSE: GLV) AUM as of Q121 totaled $94.41 million and the stock has gained 7.07% year to date. According to the fund’s records on its returns for Q121, Clough Global Dividend, and Income Fund’s (NYSE: GLV) net asset value gained 3.98% year to date and its market price advanced 15.38% year to date.

Like The Coca-Cola Company (NYSE: KO), The Procter and Gamble Company (NYSE: PG), and Colgate-Palmolive Company (NYSE: CL), Clough Global Dividend and Income Fund (NYSE: GLV) is a good dividend stock to invest in.

7. Sculptor Capital Management, Inc. (NYSE: SCU)

Dividend yield: 10.59%

Sculptor Capital Management, Inc. (NYSE: SCU) is 7th on our list of the best dividend stocks with high yields. This is an asset management firm, and one of the largest institutional alternative asset managers across the globe.

Sculptor Capital Management, Inc. (NYSE: SCU) has a market capitalization of $1.4 billion and a dividend yield of 10.59%. The stock also gained 62.16% year to date. Like The Coca-Cola Company (NYSE: KO), The Procter and Gamble Company (NYSE: PG), and Colgate-Palmolive Company (NYSE: CL), Sculptor Capital Management, Inc. (NYSE: SCU) is a good dividend stock to invest in.

6. FS KKR Capital Corp. (NYSE: FSK)

Dividend yield: 10.69%

Next on our list of the best dividend stocks with over high yields is FS KKR Capital Corp. (NYSE: FSK). This is a business development company operating debt security investments and ranks 6th on our list.

Last month, FS KKR Capital Corp. (NYSE: FSK) announced shareholder approval of a merger between the company and FS KKR Capital Corp. II. The merger is expected to be complete by June 16. The stock gained 42.41% year to date and has a market capitalization of approximately $2.9 billion. FS KKR Capital Corp.’s (NYSE: FSK) currently has a dividend yield of 10.69%.

Like The Coca-Cola Company (NYSE: KO), The Procter and Gamble Company (NYSE: PG) and Colgate-Palmolive Company (NYSE: CL), FS KKR Capital Corp. (NYSE: FSK) is a good dividend stock to invest in.