12 Best Industrial Dividend Stocks to Invest in Now

9. General Dynamics Corporation (NYSE:GD)

Number of Hedge Fund Holders: 46

General Dynamics Corporation (NYSE:GD) is a Virginia-based aerospace and defense corporation. It plays a significant role in the defense industry, supplying equipment and services to the United States military and other armed forces around the world. The company also operates one of the largest IT and services divisions within the defense sector, providing a steady revenue stream even during periods when the Pentagon reduces spending on military equipment. Since the start of 2025, the stock has surged by nearly 2%.

In the fourth quarter of 2024, General Dynamics Corporation (NYSE:GD) reported revenue of $13.3 billion, which showed a 14.3% growth from the same period last year. The revenue also beat analysts’ estimates by $521.4 million. By the end of the year, the company had a backlog totaling $90.6 billion. In addition, management estimated the potential contract value—reflecting the projected worth of unfunded indefinite delivery, indefinite quantity (IDIQ) contracts, and unexercised options—at $53.4 billion. Combining all these components, the total estimated contract value reached $144 billion, marking a 9.1% increase compared to the previous year.

General Dynamics Corporation (NYSE:GD)’s cash position came in strong. The company generated $2.2 billion in operating cash flow during the quarter, which represented 188% of net earnings. In FY24, it returned $3 billion to shareholders through dividends and share repurchases.

On March 5, General Dynamics Corporation (NYSE:GD) declared a 5.6% hike in its quarterly dividend to $1.50 per share. Through this increase, the company stretched its dividend growth streak to 28 years, which makes GD one of the best industrial stocks that pay dividends. As of March 17, the stock has a dividend yield of 2.26%.