In this article, we will take a look at some of the best dividend aristocrat stocks with yields above 3%.
Dividend Aristocrats are the companies that have raised their payouts for 25 consecutive years or more. Dividends have been an important part of the overall market return for a very long time. According to a report by S&P Global, dividends have represented approximately 31% of the total return of the broader market from 1926 to February 2025, while capital appreciation has accounted for 69%.
Growing dividends consistently highlight the companies’ confidence in their firms’ prospects as market participants see this as a sign of corporate maturity and strong balance sheets. Dividend aristocrats reveal characteristics of both capital growth and dividend income, as opposed to alternative income strategies that mainly pay attention to pure yield or pure capital appreciation.
Investors are more inclined toward dividend growth stocks, and the performance of these equities has also remained stable over the years. According to a report by S&P Global, dividend aristocrats have reported higher returns with lower volatility over the long run as compared to the broader market, which eventually resulted in higher risk-adjusted returns.
In addition to dividend growth, dividend yield is also an important component of total return. The ability to increase dividends does not come at the expense of lower yields; in fact, the dividend aristocrats index has consistently delivered higher yields than its benchmark. The index had dividend yields within the range of 2.0% to 2.8% over the 28-year period, as reported by S&P Global. Moreover, the average dividend yield of the index was 2.5%, compared with a 1.8% dividend yield of the broader market.
As highlighted above, dividend aristocrats have shown lower volatility as compared to the broader market index. Their ability to provide downside protection can be seen in the upside and downside capture ratios. The S&P report highlighted that the dividend aristocrats index has outperformed the market index 66.67% of the time in down months and 43.88% of the time in up months. Notably, the index also has a lower drawdown level compared with the benchmark index. In addition, the dividend aristocrats index provided an average excess return of 0.87% in down months over the broader market. To further emphasize their low volatility, the report mentioned that the dividend aristocrats had a market beta of 0.8 between December 29, 1989, and February 28, 2025.
With the AI boom and tech stocks taking center stage, dividend stocks are somehow overlooked by the market. However, the recent market sell-off has restored their importance, as the Dividend Aristocrats Index has surged by over 2% since the start of 2025, compared with a nearly 5% decline in the broader market. The significance of these equities is much more apparent over long periods of time. According to the S&P Global report, the dividend aristocrats index outperformed its benchmark by an average of 1.59% per year between January 2000 and February 2025. This outperformance was because of the fundamental characteristics of the constituents of the index. Given this, we will take a look at some of the best dividend aristocrat stocks to consider.
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Our Methodology
For this article, we scanned a list of the Dividend Aristocrat index, which tracks the performance of companies that have raised their payouts for 25 consecutive years or more. From that list, we picked 15 stocks with dividend yields above 3%, as of March 29. The stocks are ranked in ascending order of their dividend yields.
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15. Johnson & Johnson (NYSE:JNJ)
Dividend Yield as of March 29: 3.03%
Johnson & Johnson (NYSE:JNJ) is an American healthcare company, headquartered in New Jersey. The company specializes in manufacturing, developing, and selling a wide range of healthcare products and also offers related services. In the fourth quarter of 2024, the company posted a revenue of $22.5 billion, which showed a 5.2% growth from the same period last year. The revenue showed an operational growth of 6.7% and also beat analysts’ estimates by $84.4 million.
As a leading healthcare company, Johnson & Johnson (NYSE:JNJ) prioritizes addressing critical medical needs, including lung cancer, multiple myeloma, inflammatory bowel disease, and heart failure. The company spun off its consumer health business, Kenvue, in 2023, which now accounts for nearly two-thirds of the total revenue.
Johnson & Johnson (NYSE:JNJ)’s MedTech segment showed a 6.2% growth in global operational sales, with acquisitions and divestitures accounting for 1.5% in the increase. The company holds one of the longest dividend growth streaks in the market, spanning 62 years. Currently, it offers a quarterly dividend of $1.24 per share. With a dividend yield of 3.03%, as of March 29, JNJ is one of the best dividend aristocrat stocks on our list.
14. Consolidated Edison, Inc. (NYSE:ED)
Dividend Yield as of March 29: 3.13%
Consolidated Edison, Inc. (NYSE:ED) is a New York-based investor-owned energy company that offers services related to regulated gas, steam, and electricity distribution. The stock is generating solid returns this year, surging by over 22% since the start of 2025. It is among the best dividend aristocrat stocks on our list.
In the fourth quarter of 2024, Consolidated Edison, Inc. (NYSE:ED) generated $3.67 billion in revenue, which saw a 6.5% growth from the same period last year. The revenue surpassed analysts’ estimates by $35.6 million. Its net income attributable to common stockholders came in at $310 million, or $0.90 per share, down from $335 million, or $0.97 per share in the prior-year period. In its earnings call, the company announced that it expects steady growth in electrification demand this year due to increased new construction in downstate areas and regulatory mandates that require clean heat solutions in new residential and commercial buildings.
Consolidated Edison, Inc. (NYSE:ED) has had a challenging past, but the company has maintained steady earnings growth and a strong dividend history, bolstered by its rate-regulated natural gas and electric distribution operations in New York and New Jersey. The company’s quarterly dividend comes in at $0.85 per share, which was hiked in January by 2.4%. This was its 51st consecutive year of dividend growth. Moreover, the company has never missed a dividend since 1885. The stock supports a dividend yield of 3.15%, as of March 29.
The number of hedge funds tracked by Insider Monkey owning stakes in Consolidated Edison, Inc. (NYSE:ED) grew to 44 in Q3 2024, from 29 in the previous quarter. These stakes have a total value of over $995 million.
13. Medtronic plc (NYSE:MDT)
Dividend Yield as of March 29: 3.19%
Medtronic plc (NYSE:MDT) is an American-Irish medical device company that operates across various segments, including medical-surgical, neuroscience, cardiovascular, and diabetes. Through these segments, the company offers a wide range of healthcare solutions. In fiscal Q3 2025, it reported a revenue of $8.3 billion, up 2.5% from the same period last year. However, the company missed analysts’ estimates of $8.33 billion. Its GAAP diluted earnings per share (EPS) came in at $1.01, while adjusted EPS grew 7% from the prior year period to $1.39, exceeding analysts’ consensus of $1.35.
In addition to strong earnings, Medtronic plc (NYSE:MDT) also reported a solid cash position, which is crucial to the company’s dividend policy. In the first nine months of the fiscal year, the company generated an operating cash flow of $4.5 billion, and its free cash flow for the period came in at $3.1 billion. With this balance sheet and cash position, it holds a 47-year streak of consistent dividend growth. The company is just three years away from becoming a Dividend King. Currently, it offers a quarterly dividend of $$0.70 per share and has a dividend yield of 3.19%, as of March 29.
At the end of Q4 2024, 67 hedge funds tracked by Insider Monkey held stakes in Medtronic plc (NYSE:MDT), growing from 60 in the previous quarter. These stakes have a total value of over $3.55 billion. With over 9.7 million shares, First Eagle Investment Management was the company’s leading stakeholder in Q4.
12. AbbVie Inc. (NYSE:ABBV)
Dividend Yield as of March 29: 3.2%
AbbVie Inc. (NYSE:ABBV) ranks twelfth on our list of the best dividend aristocrat stocks. The American multinational pharmaceutical company develops and brings innovative treatments to market across a wide range of healthcare sectors. Its portfolio includes treatments in immunology, eye care, oncology, and neurology. In addition, it has a strong presence in the aesthetics sector, offering cosmetic products like Juvederm and Botox for skin care and anti-aging. The stock has surged by over 14% since the start of 2025, outperforming the broader market.
AbbVie Inc. (NYSE:ABBV) reported a revenue of $15.1 billion in the fourth quarter of 2025, which showed a 5.6% growth from the same period last year. The revenue beat analysts’ expectations by $14.87 billion. The company’s net loss on a GAAP basis came in at $0.02 per share, while adjusted diluted EPS reached $2.16, slightly above the expectations of $2.13. For 2024, collective sales of Skyrizi and Rinvoq grew to $1.77 billion, up 51% on a YoY basis due to strong global demand and market expansion.
On February 13, AbbVie Inc. (NYSE:ABBV) declared a quarterly dividend of $1.64 per share, which was in line with its previous dividend. Overall, the company has been growing its payouts for 52 consecutive years. In addition, the stock offers an attractive dividend yield of 3.2%, as of March 29.
AbbVie Inc. (NYSE:ABBV) was included in 85 hedge fund portfolios at the end of Q4 2024, up from 68 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these hedge funds are worth nearly $2.5 billion in total.
11. NextEra Energy, Inc. (NYSE:NEE)
Dividend Yield as of March 29: 3.22%
NextEra Energy, Inc. (NYSE:NEE) is a Florida-based renewable energy company that generates, transmits, and sells electricity. The company recently announced a CEO change as part of the company’s planned succession process. Its current executive Vice President, Brian Bolster, will become the company’s next CEO. In the past 12 months, the stock has surged by over 11%.
NextEra Energy, Inc. (NYSE:NEE)’s clean energy segment is crucial to its operations as it operates under long-term contracts and generates stable cash flow for the company. The company is also planning to expand this division rapidly with the growing demand for renewables. The management announced to boost its renewable energy capacity from 36 gigawatts to 46.5 gigawatts by 2027.
NextEra Energy, Inc. (NYSE:NEE) currently pays a quarterly dividend of $0.5665 per share, having raised it by 14% in February. Through this increase, the company stretched its dividend growth streak to 29 years, which makes it one of the best dividend aristocrat stocks. Its stable cash position enabled the company to achieve a consistent track of dividend growth. In FY24, the company generated $13.2 billion in operating cash flow. Looking forward, it plans to grow its dividend per share by around 10% annually through 2026. The stock has a dividend yield of 3.22%, as recorded on March 29.
10. Exxon Mobil Corporation (NYSE:XOM)
Dividend Yield as of March 29: 3.35%
Exxon Mobil Corporation (NYSE:XOM) is an American multinational oil and gas company, headquartered in Texas. In the fourth quarter of 2024, the company posted a revenue of $83.4 billion, which fell slightly by 1.1% from the same period last year. Overall, its long-term performance remained stable. Since 2019, the company has achieved $12.1 billion in structural cost reductions to reduce the impact of inflation and expansion-related expenses while also outperforming its peers. For 2024, it reported the highest return on capital employed in its sector at 12.7%, with the five-year average coming in at 10.8%.
Exxon Mobil Corporation (NYSE:XOM)’s strong cash position makes it a solid dividend investment. In FY24, the company generated $55 billion in operating cash flow, which was its third-best year in a decade. For Q4 2024, its operating cash flow was $12.2 billion, and its free cash flow amounted to $8 billion. During the year, the company returned $36 billion to shareholders through dividends, including $16.7 billion in dividends.
Exxon Mobil Corporation (NYSE:XOM) currently offers a quarterly dividend of $0.99 per share and has a dividend yield of 3.35%, as of March 29. The company holds a long history of dividend payments, offering regular payouts for 143 years. Moreover, it maintains a 42-year streak of consistent dividend growth, which makes it one of the best dividend aristocrat stocks.
As of the close of Q4 2024, 104 hedge funds tracked by Insider Monkey held stakes in Exxon Mobil Corporation (NYSE:XOM), up from 86 in the previous quarter. The total value of these stakes is over $5.46 billion. Ken Fisher’s Fisher Asset Management owned the largest stake in the company at the end of Q4.
9. Essex Property Trust, Inc. (NYSE:ESS)
Dividend Yield as of March 29: 3.36%
Essex Property Trust, Inc. (NYSE:ESS) is a California-based real estate investment trust company that mainly invests in apartments in California and in the Seattle metropolitan area. The company has a high focus on high-demand coastal markets and has always benefitted from above-average rent growth. It also has external growth drivers and works with different partners to acquire apartment communities. Since the start of 2025, the stock has surged by over 9%, and its 12-month returns came in at 27.6%.
In the fourth quarter of 2024, Essex Property Trust, Inc. (NYSE:ESS) reported revenue of $452 million, which showed a 7.9% growth from the same period last year. The company’s core Funds from Operations (CFFO) per diluted share came in at $3.92, up 2.3% from the prior-year period. This growth was mainly driven by favorable same property revenue growth.
For FY24, Essex Property Trust, Inc. (NYSE:ESS) received cash proceeds of $108.8 million. In addition, at the end of the year, the company had $1.3 billion available in liquidity, including cash and cash equivalents and marketable securities. On February 20, the company declared a 4.9% hike in its quarterly dividend to $2.57 per share. This marked the company’s 30th consecutive year of dividend growth. With a dividend yield of 3.36%, as of March 29, ESS is one of the best dividend aristocrat stocks on our list.
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.
7. Genuine Parts Company (NYSE:GPC)
Dividend Yield as of March 29: 3.48%
Genuine Parts Company (NYSE:GPC) is an American industrial supplies company, based in Georgia. The company mainly specializes in automotive and industrial replacement parts. In the past 12 months, the stock has declined by over 23% as the company faces challenges due to slow industrial production in the US. In addition, the decline in the sales of replacement automotive parts has also taken a toll on the stock’s price. However, GPC has rebounded slightly in 2025, surging by over 2% so far.
In addition, Genuine Parts Company (NYSE:GPC)’s earnings also came in strong. In the fourth quarter of 2024, the company reported a revenue of $5.77 billion, which saw a 3.3% growth from the same quarter last year. The revenue also surpassed analysts’ estimates by $57.6 million. The company reported a gross profit of $2.1 billion, which represented 35.9% of total sales. GPC’s net income for the quarter came in at $133 million, which translated into $0.96 per diluted share.
Genuine Parts Company (NYSE:GPC) is a strong dividend payer, boasting a healthy balance sheet with solid cash generation. In FY24, the company reported an operating cash flow of $1.3 billion, and its free cash flow amounted to $684 million. In addition, it also returned $705 million to shareholders through dividends and share repurchases. The company’s quarterly dividend sits at $1.03 per share for a dividend yield of 3.48%, as of March 29. It is one of the best dividend aristocrat stocks on our list, as the company has been raising its payouts for 69 consecutive years, holding one of the longest streaks in the market.
6. PepsiCo, Inc. (NASDAQ:PEP)
Dividend Yield as of March 29: 3.63%
PepsiCo, Inc. (NASDAQ:PEP) is an American food, snack, and beverage company, headquartered in New York. The company posted strong earnings in the FY24, with revenues coming in at $91.8 billion, up from $91.4 billion in 2023. Its operating profit also grew to $12.8 billion from $11.9 billion in FY23. The company reported a net income of $9.6 billion. For FY25, it expects low single-digit organic revenue growth and mid-single-digit growth in core constant currency EPS.
PepsiCo, Inc. (NASDAQ:PEP) has expanded over the years, following its strategy of continuous acquisitions. The company recently announced the acquisition of poppi, which is a prebiotic soda brand. This would mark PepsiCo’s entry into the functional soda market and would expand its portfolio with ‘better-for-you’ options.
PepsiCo, Inc. (NASDAQ:PEP) has a strong cash position, which makes it one of the best dividend aristocrat stocks on our list. In FY24, the company generated $12.5 billion in operating cash flow. It also plans to return around $7.6 billion to shareholders through dividends in the upcoming fiscal year. The company offers a quarterly dividend of $1.355 per share and has a dividend yield of 3.63%, as recorded on March 29. In February, PEP achieved its 53rd consecutive annual dividend hike, becoming a reliable choice for investors.
Insider Monkey’s database of Q4 2024 indicated that 69 hedge funds held stakes in PepsiCo, Inc. (NASDAQ:PEP), up from 58 in the previous quarter. The consolidated value of these stakes is more than $4.5 billion. With over 5.6 million shares, Fundsmith LLP was one of the company’s most prominent stakeholders at the end of Q4.
5. Hormel Foods Corporation (NYSE:HRL)
Dividend Yield as of March 29: 3.82%
Hormel Foods Corporation (NYSE:HRL) is a Minnesota-based multinational food processing company. In fiscal Q1 2025, the company reported a revenue of $2.99 billion, which declined by nearly 1% from the same period last year. However, the revenue surpassed analysts’ estimates by $42 million. Its operating income came in at $228 million, and its operating margin stood at 7.6%.
In its earnings call, Hormel Foods Corporation (NYSE:HRL) reaffirmed its position as a market leader because of its flagship and rising brands, such as SPAM, Applegate, Hormel Black Label, and Jennie-O. These brands grew volumes during the quarter while gaining share in their respective categories. In its food service segment, the company achieved broad-based growth across numerous categories, most notably in its premium offerings. The international segment also benefitted from the growth of its global brands and products in the Chinese market.
Hormel Foods Corporation (NYSE:HRL) ended the quarter with $840.4 million available in cash and cash equivalents, up from $741.8 million in the prior-year period. During the quarter, the company returned $155 million to shareholders through dividends. Currently, it pays a quarterly dividend of $0.29 per share and has a dividend yield of 3.82%, as of March 29. One of the best dividend aristocrat stocks on our list, HRL has been rewarding shareholders with growing dividends for 51 consecutive years.
4. Chevron Corporation (NYSE:CVX)
Dividend Yield as of March 29: 4.12%
Chevron Corporation (NYSE:CVX) is a leading American oil and gas company. It has enhanced its capacity to secure long-term contracts by prioritizing LNG initiatives. The company reported solid earnings in the fourth quarter of 2024, generating revenue of $52.23 billion, up 10.7% from the same period last year. The revenue also exceeded Street estimates by over $3.8 billion. The growth in revenue was mainly driven by a 7% rise in global production and a 19% surge in US output, both achieving record levels for the year.
In addition, Chevron Corporation (NYSE:CVX) generated nearly $8 billion from asset sales and maintained a solid financial position, as the company ended the year with a net debt ratio of 10%. The company’s cash position has remained stable over the years, which has supported its dividend policy. In FY24, it reported an operating cash flow of $31.5 billion, and its free cash flow amounted to $15 billion. Due to this cash generation, the company was able to return $12 billion to shareholders through dividends and repurchased over $15 billion worth of shares, reasserting its long-standing commitment to share buybacks.
Chevron Corporation (NYSE:CVX) offers a quarterly dividend of $1.71 per share, growing it by 4.9% in January. Through this increase, the company achieved its 38th consecutive annual dividend hike, which makes CVX one of the best dividend aristocrat stocks on our list. In addition to dividend growth, the stock also offers an attractive dividend yield of 4.12%, as recorded on March 29.
3. Federal Realty Investment Trust (NYSE:FRT)
Dividend Yield as of March 29: 4.54%
Federal Realty Investment Trust (NYSE:FRT) ranks third on our list of the best dividend aristocrat stocks. The American real estate investment trust company mainly invests in shopping centers and entertainment properties. Its absolute focus has always remained on quality over quantity. As of December 2024, the company has 102 properties with approximately 3,500 tenants.
In the fourth quarter of 2024, Federal Realty Investment Trust (NYSE:FRT) reported revenue of $311 million, which showed a 6.7% growth from the same period last year. However, the revenue missed analysts’ estimates by $576,000. The company’s funds from operations (FFO) available to common shareholders per diluted share came in at $6.77, up from $6.53 in 2023. Its operating income for the quarter grew to $109.3 million, from $108.8 million in the prior-year period.
Federal Realty Investment Trust (NYSE:FRT)’s competitive edge lies in the fact that it mainly targets properties in major metropolitan regions with high population densities and well-to-do demographics. This strategy remained beneficial, especially during the pandemic, when tenants tried to seek better locations. The stock surged by nearly 21% between March and December 2020.
Federal Realty Investment Trust (NYSE:FRT) offers a quarterly dividend of $1.10 per share and has a dividend yield of 4.54%, as of March 29. The company has been growing its payouts for 57 consecutive years, holding the longest record in the REIT industry.
2. Eversource Energy (NYSE:ES)
Dividend Yield as of March 29: 4.92%
Eversource Energy (NYSE:ES) is a Boston-based electric services company that offers essential energy services to its consumers. By opting to divest Aquarion, a transaction expected to be finalized by late 2025, the company aims to enhance its balance sheet while maintaining its focus on regulated electric and natural gas utility operations. Although certain challenges are expected in 2025, the company also sees substantial and appealing prospects for system investments. This is reflected in a 10 percent increase in its five-year investment plan through 2029, which is expected to reinforce regional infrastructure and contribute to the expansion of clean energy. These opportunities are seen as key drivers in achieving the company’s long-term growth target of 5 to 7 percent.
In the fourth quarter of 2024, Eversource Energy (NYSE:ES) reported a revenue of $2.97 billion, which showed a 10.2% growth from the same period last year. The company’s transmission segment generated $724.6 million in 2024, compared with $643.4 million in 2023. Its operating income and interest expense for the quarter came in at $347.8 million and $288.7 million, respectively.
Eversource Energy (NYSE:ES) is one of the recent additions to the Dividend Aristocrat Index. In January, the company announced a 5.2% hike in its quarterly dividend to $0.7525 per share. This marked the company’s 25th consecutive year of dividend growth, which makes it one of the best dividend aristocrat stocks on our list. As of March 29, the stock has a dividend yield of 4.92%.
1. Franklin Resources, Inc. (NYSE:BEN)
Dividend Yield as of March 29: 6.64%
Franklin Resources, Inc. (NYSE:BEN) is an American multinational investment management company that serves clients in over 150 countries. The company has a strong presence in key financial markets worldwide, offering a broad range of services across various fields, including fixed income, alternative investments, equities, and multi-asset strategies. As of December 31, 2024, the company has approximately $1.6 trillion in assets under management.
In fiscal Q1 2025, Franklin Resources, Inc. (NYSE:BEN) posted a 34% growth in long-term inflows on a YoY basis, excluding reinvested distributions. The company reported $17 billion in net inflows across its different fields and investment segments. Its long-term net outflows amounted to $50 billion, excluding Western Asset Management. However, the company managed to generate $18 billion in net inflows across all asset classes.
Franklin Resources, Inc. (NYSE:BEN), one of the best dividend aristocrat stocks, offers a quarterly dividend of $0.32 per share. The company has been rewarding shareholders with growing dividends for the past 49 years and is one year away from becoming a Dividend King. As of March 29, the stock has a dividend yield of 6.64%.
Overall, Franklin Resources, Inc. (NYSE:BEN) ranks first on our list of the best dividend aristocrat stocks. While we acknowledge the potential of BEN as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than BEN but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the dirt cheap dividend stock.
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