5 Best Blue Chip Dividend Stocks to Buy

2. McDonald’s Corporation (NYSE:MCD)

Dividend Yield as of November 21: 2.23%

McDonald’s Corporation (NYSE:MCD) is an American multinational fast-food chain. Since the start of the year, the stock has delivered a 1.96% return to shareholders, while its 12-month returns came in at 8.04%, as of the close of November 20.

McDonald’s Corporation (NYSE:MCD) was lauded by Street analysts for its recent quarterly earnings, unit growth, and growing same-store sales. Given this, both Truist and RBC Capital raised their price targets on the stock to $300 and $295 in October, respectively.

On October 14, McDonald’s Corporation (NYSE:MCD) declared a 10% hike in its quarterly dividend to $1.52 per share. The company has been raising its dividends consistently for the past 46 years. Its growing earnings and strong dividend history make it one of the best dividend stocks to buy now. As of November 21, the stock has a dividend yield of 2.23%.

McDonald’s Corporation (NYSE:MCD) was a part of 53 hedge fund portfolios in Q3 2022, up from 50 in the previous quarter, according to Insider Monkey’s data. The stakes owned by these hedge funds are worth over $1.8 billion collectively.