15 Best Dividend Aristocrat Stocks with Over 3% Yield

8. Kenvue Inc. (NYSE:KVUE)

Dividend Yield as of March 29: 3.46%

Kenvue Inc. (NYSE:KVUE) ranks eighth on our list of the best dividend aristocrat stocks. The New Jersey-based consumer health company became a fully independent entity in 2023 after its separation from Johnson & Johnson. Despite all the uncertainty regarding its spin-off, the company has the potential to establish itself as a strong corporation, as its Skin Health and Beauty segments are growing rapidly.

In the fourth quarter of 2024, the Skin Health and Beauty segment experienced a 2.6% organic sales growth on a YoY basis. Its Self Care segment generated $32 million in revenues, showing a 2.1% hike from the prior year. Overall, the company posted $3.7 billion in revenue, which declined by 0.1% from the same period in 2023. In addition, Kenvue Inc. (NYSE:KVUE) also reported solid cash generation during the quarter. Its operating cash flow and free cash flow came in at $1.7 billion and $1.3 billion, respectively. The company ended the quarter with $1.1 billion available in cash and cash equivalents.

On January 16, Kenvue Inc. (NYSE:KVUE) declared a quarterly dividend of $0.205 per share, having raised it by 2.5% in July 2024. The company has been growing its payments for 62 consecutive years. As of March 29, the stock has a dividend yield of 3.46%.

As per Insider Monkey’s database of Q4 2024, 38 hedge funds held stakes in Kenvue Inc. (NYSE:KVUE), down from 46 in the previous quarter. The overall value of these stakes is over $1.4 billion. With over 31.5 million shares, Harris Associates was the company’s leading stakeholder in Q4.