10 Best Stocks For Dividends

In this article, we discuss 10 best stocks for dividends. If you want to read our detailed analysis of dividend stocks and their previous performance, go directly to read 26 Best Stocks For Dividends. 

10. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 60

Lockheed Martin Corporation (NYSE:LMT) is a global aerospace, defense, and security company that operates in various segments of the defense and aerospace industry. The company offers a quarterly dividend of $3.15 per share, having raised it by 5% in October this year. This increase took the company’s dividend growth to 21 years, which makes LMT one of the best stocks for dividends. The stock has a dividend yield of 2.85%, as of December 21.

At the end of Q3 2023, 60 hedge funds tracked by Insider Monkey owned stakes in Lockheed Martin Corporation (NYSE:LMT), up from 52 in the preceding quarter. The consolidated value of these stakes is over $1.64 billion.

9. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 61

Verizon Communications Inc. (NYSE:VZ) is a multinational telecommunications conglomerate that provides a wide range of communication, information, and entertainment products and services. On December 7, the company announced its quarterly dividend of $0.665 per share, which was consistent with its previous dividend. VZ is one of the best stocks for dividends as the company holds a 17-year streak of consistent dividend growth. As of December 21, the stock offers a dividend yield of 7.13%.

According to Insider Monkey’s database of Q3 2023, 61 hedge funds owned stakes in Verizon Communications Inc. (NYSE:VZ), growing from 53 in the previous quarter. These stakes are collectively valued at nearly $1.4 billion. With over 6.7 million shares, Marshall Wace LLP was the company’s leading stakeholder in Q3.

8. Philip Morris International Inc. (NYSE:PM)

Number of Hedge Fund Holders: 62

With a dividend growth streak spanning over nine years, Philip Morris International Inc. (NYSE:PM) is next on our list of the best stocks for dividends. The American multinational tobacco company currently pays a quarterly dividend of $1.30 per share and has a dividend yield of 5.65%, as recorded on December 21.

At the end of September 2023, 62 hedge funds tracked by Insider Monkey reported having stakes in ConocoPhillips (NYSE:COP), the same as in the previous quarter. The collective value of these stakes is more than $3.68 billion.

7. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 65

PepsiCo, Inc. (NASDAQ:PEP) is renowned for its wide range of beverage products, including soft drinks, juices, enhanced water, and ready-to-drink teas. In addition to beverages, PepsiCo offers a diverse portfolio of snack and food products. The company pays a quarterly dividend of $1.265 per share and has a dividend yield of 3.05%, as of December 21. It is one of the best dividend stocks on our list as the company has been growing its dividends for the past 51 years.

As per Insider Monkey’s database of Q3 2023, 65 hedge funds reported having stakes in PepsiCo, Inc. (NASDAQ:PEP), compared with 68 in the preceding quarter. These stakes have a collective value of nearly $4.3 billion. With roughly 8 million shares, Fisher Asset Management was the company’s largest stakeholder in Q3.

6. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 75

The Procter & Gamble Company (NYSE:PG) is a multinational consumer goods corporation known for its diverse portfolio of household and personal care products. The company’s quarterly dividend currently stands at $0.9407 per share and it offers a dividend yield of 2.61%, as of December 21. The company has been rewarding shareholders with growing dividends for the past 67 years.

As of the end of the September quarter of 2023, 75 hedge funds in Insider Monkey’s database reported having stakes in The Procter & Gamble Company (NYSE:PG), up from 74 in the previous quarter. The collective value of these stakes is over $5.7 billion.

5. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders: 76

The Home Depot, Inc. (NYSE:HD) is a home improvement retailer that specializes in offering a wide range of products, tools, construction materials, and home improvement services. The company was a part of 76 hedge fund portfolios at the end of Q3 2023, growing from 68 in the preceding quarter, as per Insider Monkey’s database. The consolidated value of stakes owned by these hedge funds is nearly $5.2 billion.

The Home Depot, Inc. (NYSE:HD), one of the best stocks for dividends, has been growing its dividends for 13 years running. The company pays a quarterly dividend of $2.09 per share and has a dividend yield of 2.40%, as of December 21.

4. S&P Global Inc. (NYSE:SPGI)

Number of Hedge Fund Holders: 78

S&P Global Inc. (NYSE:SPGI) is an American company that offers a wide range of financial information, analytics, and insights. The company has been consistently raising its dividends for the past 50 years and it currently pays a quarterly dividend of $0.90 per share. The stock offers a dividend yield of 0.84%, as of December 21. It is among the best dividend stocks on our list because of the company’s consistent dividend growth.

At the end of Q3 2023, 78 hedge funds in Insider Monkey’s database reported having stakes in S&P Global Inc. (NYSE:SPGI), compared with 82 in the preceding quarter. The collective value of these stakes is roughly $7 billion.

3. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 79

Exxon Mobil Corporation (NYSE:XOM) is one of the world’s largest publicly traded multinational oil and gas corporations. The company offers a quarterly dividend of $0.95 per share and has a dividend yield of 3.75%, as of December 21. It is one of the best dividend stocks on our list as the company has been growing its dividends consistently for the past 41 years.

Insider Monkey’s database of Q3 2023 showed that 79 hedge funds owned stakes in Exxon Mobil Corporation (NYSE:XOM), growing from 71 in the previous quarter. These stakes are worth nearly $4.5 billion in total.

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 84

Johnson & Johnson (NYSE:JNJ) is an American multinational healthcare and pharmaceutical company, holding a dividend growth streak of 61 years. The company pays a quarterly dividend of $1.19 per share and has a dividend yield of 3.11%, as of December 21.

Out of the 910 hedge funds tracked by Insider Monkey at the end of Q3 2023, 84 funds owned stakes in Johnson & Johnson (NYSE:JNJ), down slightly from 88 in the previous quarter. These stakes are collectively valued at over $4.1 billion.

1. Merck & Co., Inc. (NYSE:MRK)

Number of Hedge Fund Holders: 85

Merck & Co., Inc. (NYSE:MRK) tops our list of the best stocks for dividends. The pharmaceutical company has raised its dividends for 12 years straight and pays a quarterly dividend of $0.77 per share. As of December 21, the stock has a dividend yield of 2.92%.

Insider Monkey’s database of Q3 2023 showed that 85 hedge funds owned stakes in Merck & Co., Inc. (NYSE:MRK), up from 78 in the preceding quarter. These stakes are collectively valued at over $5.06 billion.

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