10 Safe Dividend Stocks with Yields Above 5%

3. Altria Group, Inc. (NYSE:MO)

Dividend Yield as of April 20: 7.02%

Altria Group, Inc. (NYSE:MO) is a Virginia-based tobacco company that manufactures a wide range of related products, including cigarettes and other nicotine products. The company also focuses on nicotine products and has a business model that tends to hold up well during periods of market and economic uncertainty. Even though the use of traditional cigarettes is declining in the US, overall demand for nicotine remains steady. Holding nearly half of the US market, the company enjoys significant advantages. These include cost efficiencies from its scale, strong negotiating power with retailers due to its control of top-selling brands like Marlboro and JUUL, and the ability to invest more heavily than competitors in newer nicotine alternatives, such as smokeless products.

In the final quarter of 2024, Altria Group, Inc. (NYSE:MO) reported revenue of $5.11 billion, a year-over-year increase of 1.63% that beat analyst forecasts by $59.6 million. The growth was supported by improved margins and solid performance across its flagship tobacco brands. The company also continued to channel funds into initiatives that support long-term expansion. For 2025, it expects adjusted diluted EPS to come in between $5.22 and $5.37, implying 2% to 5% growth over its 2024 earnings of $5.12 per share.

Known for its strong focus on shareholder returns, Altria Group, Inc. (NYSE:MO) distributed $6.8 billion in dividends during fiscal 2024 and has now increased its dividend for 55 consecutive years. The company’s quarterly dividend comes in at $1.02 per share and has a dividend yield of 7.02%, as of April 20.