5 Best August Dividend Stocks To Buy

In this article, we discuss 5 best August dividend stocks to buy. If you want to read our detailed analysis of dividend stocks and the dividend capture strategy, go directly to read 10 Best August Dividend Stocks To Buy. 

5. Church & Dwight Co., Inc. (NYSE:CHD)

Ex-Dividend Date: August 14

Church & Dwight Co., Inc. (NYSE:CHD) ranks fifth on our list of the best dividend stocks to buy in August. The American multinational company specializes in household, personal care, and other specialty products. On July 26, the company declared a quarterly dividend of $0.2725 per share and is scheduled to trade ex-dividend on August 14. The company holds a 27-year track record of consistent dividend growth. Its dividend yield on July 29 came in at 1.12%.

The number of hedge funds tracked by Insider Monkey owning stakes in Church & Dwight Co., Inc. (NYSE:CHD) grew to 38 in Q1 2023, from 36 in the previous quarter. These stakes have a total value of more than $1.4 billion.

4. Cintas Corporation (NASDAQ:CTAS)

Ex-Dividend Date: August 14

Cintas Corporation (NASDAQ:CTAS) is an Ohio-based business services company that provides a range of businesses and services to its consumers. The company generated $2.28 billion in revenues in the third quarter of 2023, which was up 10.1% from the same period last year. During the quarter, it returned $117.6 million to shareholders in dividends, which showed a 20.6% growth from the amount paid last June.

On July 25, Cintas Corporation (NASDAQ:CTAS) declared a quarterly dividend of $1.35 per share, having raised it by 17.4%. Through this increase, the company stretched its dividend growth streak to 40 years, which makes it one of the best dividend stocks on our list. The stock has a dividend yield of 1.07%, as of July 29.

As of the close of Q1 2023, 39 hedge funds in Insider Monkey’s database reported having stakes in Cintas Corporation (NASDAQ:CTAS), compared with 45 in the preceding quarter. The consolidated value of these stakes is over $1.48 billion.

3. The Hershey Company (NYSE:HSY)

Ex-Dividend Date: August 17

The Hershey Company (NYSE:HSY) is an American multinational confectionery company that manufactures chocolates, confectionery products, and a wide range of different snacks. On July 27, the company declared a 15% hike in its quarterly dividend to $1.192 per share. This marked the company’s 14th consecutive year of dividend growth. With a dividend yield of 2.02% as of July 29, HSY is one of the best dividend stocks on our list.

The Hershey Company (NYSE:HSY) was a part of 44 hedge fund portfolios in Q1 2023, up from 37 in the previous quarter, as tracked by Insider Monkey. The collective value of stakes owned by these funds is over $1.8 billion. With over 1.5 million shares, GQG Partners was the company’s leading stakeholder in Q1.

2. NextEra Energy, Inc. (NYSE:NEE)

Ex-Dividend Date: August 29

NextEra Energy, Inc. (NYSE:NEE) is a Florida-based company that specializes in energy generation and transmission. The company’s main focus is on renewable energy and sustainable practices. In the second quarter of 2023, the company reported revenue of $.735 billion, up 42% on a year-over-year basis. Its adjusted net income for the quarter came in at $781 million, compared with $683 million in the prior-year quarter.

NextEra Energy, Inc. (NYSE:NEE), one of the best dividend stocks, currently pays a quarterly dividend of $0.4675 per share. The company has raised its payouts consistently for the past 27 years. The stock has a dividend yield of 2.57%, as of July 29.

Of the 943 hedge funds tracked by Insider Monkey in Q1 2023, 59 hedge funds owned stakes in NextEra Energy, Inc. (NYSE:NEE), worth collectively over $1.11 billion.

1. Union Pacific Corporation (NYSE:UNP)

Ex-Dividend Date: August 30

Union Pacific Corporation (NYSE:UNP) ranks first on our list of the best dividend stocks to buy in August. The American transport company currently pays a quarterly dividend of $1.30 per share and has a dividend yield of 2.23%, as of July 29. The company has been growing its dividends consistently for 16 years running.

Union Pacific Corporation (NYSE:UNP) was popular among hedge funds with 85 elite funds having stakes in the company in Q1 2023, according to Insider Monkey’s database. The stakes owned by these funds have a collective value of more than $4 billion.

Madison Investments mentioned Union Pacific Corporation (NYSE:UNP) in its Q2 2023 investor letter. Here is what the firm has to say:

“Union Pacific Corporation (NYSE:UNP) released its annual Sustainability report. Highlights include improved safety metrics as a result of its comprehensive approach to safe train operations through the use of technology in combination with training of its workforce. Train derailments declined by 21% compared to 2019. The company implemented a new qualitative cybersecurity risk management system to protect from cyber events. To date, the company has not experienced any material disruption due to a cyber attack or threat. The report also highlighted its annual giving with $24 million in donations across 2,500 non-profit organizations in 2022.”

You can also take a look at 11 Best Logistics Stocks to Buy and 15 Best Russell 2000 Stocks To Buy Now

Follow Insider Monkey on Twitter