5 Best Consistent Dividend Stocks to Buy

2. International Business Machines Corporation (NYSE:IBM)

Dividend Yield as of November 9: 4.77%

An American multinational tech company, International Business Machines Corporation (NYSE:IBM) has been making consistent dividend payments since 1916. The company has raised its dividends for 27 years in a row, which places it as one of the best dividend stocks on our list. It currently pays a quarterly dividend of $1.65 per share and has a dividend yield of 4.77%, as of November 9.

In October, Morgan Stanley maintained an Overweight rating on International Business Machines Corporation (NYSE:IBM) with a $152 price target, appreciating the company’s revenue growth over the past years.

In the first nine months of the year, International Business Machines Corporation (NYSE:IBM) reported an operating cash flow of $6.5 billion and its free cash flow came in at $4.1 billion. During Q3 2022, the company returned $1.5 billion to shareholders in dividends, which shows that the company’s cash generation is strong.

At the end of the June quarter of 2022, 40 hedge funds in Insider Monkey’s database owned stakes in International Business Machines Corporation (NYSE:IBM), compared with 43 in the previous quarter. These stakes have a total value of over $948.3 million.