10 High Growth Dividend Paying Stocks To Invest In

8. ConocoPhillips (NYSE:COP)

5-Year Revenue Growth: 11.10%

ConocoPhillips (NYSE:COP) ranks eighth on our list of the best high growth dividend stocks. The American global energy company, based in Texas, is engaged in hydrocarbon exploration and production. The company has increased its capital spending to support major long-term initiatives. While this requires upfront investment, it’s still considered attractive for income-focused investors, as these projects are projected to generate an additional $6 billion in free cash flow—provided WTI crude prices remain near $70. On top of that, with the acquisition of Marathon Oil finalized in November, the company’s free cash flow potential could see significant growth in the years ahead.

In addition, ConocoPhillips (NYSE:COP) is a major player in hydrocarbon exploration and production. The company saw a significant boost in output during the fourth quarter of 2024. Production climbed 14.8% year-over-year to 2,183 MBOED, driven largely by strategic moves such as the acquisition of Marathon Oil. With a forward P/E ratio of 11x, the stock is viewed as one of the most attractively priced among hedge funds. The company’s revenue grew by over 11% in the past five years.

ConocoPhillips (NYSE:COP)’s financial position remained solid, generating $20.1 billion in operating cash flow over the year, with total cash from operations reaching $20.3 billion. The company continued to prioritize shareholder returns, distributing $3.6 billion in dividends. After a 34% hike in October, the quarterly dividend now stands at $0.78 per share. The stock’s dividend yield of 3.7%, as of April 8, is also attractive for income investors. Moreover, it has been growing its payouts consistently for 10 years.