10 Top Performing Dividend Stocks in 2024

3. Walmart Inc. (NYSE:WMT)

Year-to-Date Return as of December 25: 74.5%

Walmart Inc. (NYSE:WMT) is an American retail corporation, based in Arkansas. The company operates a chain of hypermarkets, discount stores, and grocery stores across the country. In the third quarter of 2024, it reported revenue of $168 billion, marking a 5.5% increase from the previous year, surpassing analysts’ expectations by $1.4 billion. The company, known for its strong dividend payouts, continues to maintain a solid cash position. Year-to-date, Walmart generated $22.9 billion in operating cash flow, an increase of $3.9 billion compared to the same period last year. Its free cash flow also grew by $1.9 billion year-over-year, reaching $6.2 billion. The company has raised its dividend payouts for 51 consecutive years.

Walmart Inc. (NYSE:WMT) currently offers a quarterly dividend of $0.2075 per share and has a dividend yield of 0.90%, as of December 25. The company is utilizing its competitive strengths to generate significant financial returns for its investors. Its growing cash flow and profitability stem not only from gaining market share but also from the success of its profitable e-commerce segment, which has thrived following major investments in infrastructure. In addition, strategic measures like price reductions and improved inventory management have played a key role in driving these positive results.

Since the start of 2024 through December 25, Walmart Inc. (NYSE:WMT) has surged by 74.5%, significantly outperforming the broader market. Not only this, but the company also saw growth in customer traffic this year, with a 3% increase in the third quarter compared to the same period last year. This trend is a positive development for any large retailer.

With a collective stake value of over $9.7 billion, 88 hedge funds held positions in Walmart Inc. (NYSE:WMT) in the third quarter of 2024, as per Insider Monkey’s database. Rajiv Jain’s GQG Partners was one of the company’s leading stakeholders in Q3.