5 Best Consistent Dividend Stocks To Invest In

In this article, we discuss 5 best consistent dividend stocks to invest in. If you want to read our detailed analysis of dividend stocks and the performance of dividend growers over the years, go directly to read 14 Best Consistent Dividend Stocks To Invest In. 

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

Number of Hedge Fund Holders: 58

NextEra Energy, Inc. (NYSE:NEE) is a leading American energy company with a focus on clean and renewable energy solutions. The company offers a quarterly dividend of $0.4675 per share and has a dividend yield of 3.15%, as of January 31. It is one of the best consistent dividend stocks on our list as the company has been growing its dividends for the past 27 years.

At the end of the third quarter of 2023, 58 hedge funds tracked by Insider Monkey owned stakes in NextEra Energy, Inc. (NYSE:NEE), compared with 59 in the previous quarter. These stakes have a total value of over $1.4 billion.

4. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 60

Lockheed Martin Corporation (NYSE:LMT) is a major player in aeronautics, designing and manufacturing advanced aircraft for military and civilian purposes. On January 24, the company announced a quarterly dividend of $3.15 per share, which was in line with its previous dividend. In 2023, the company stretched its dividend growth streak to 21 years, which places LMT as one of the best consistent dividend stocks on our list. The stock’s dividend yield on January 31 came in at 2.92%.

At the end of Q3 2023, 60 hedge funds tracked by Insider Monkey owned stakes in Lockheed Martin Corporation (NYSE:LMT), up from 52 in the preceding quarter. The consolidated value of these stakes is over $1.64 billion.

3. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 61

Verizon Communications Inc. (NYSE:VZ) is next on our list of the best consistent dividend stocks to invest in. The American telecommunications company has raised its dividends for 17 years in a row and offers a quarterly dividend of $0.665 per share. As of January 31, the stock has a dividend yield of 6.26%.

The number of hedge funds in Insider Monkey’s database owning stakes in Verizon Communications Inc. (NYSE:VZ) grew to 61 in Q3 2023, from 53 a quarter earlier. The collective value of stakes owned by these hedge funds is roughly $1.4 billion.

2. Analog Devices, Inc. (NASDAQ:ADI)

Number of Hedge Fund Holders: 64

Analog Devices, Inc. (NASDAQ:ADI) is a semiconductor company specializing in the design and manufacturing of analog, mixed-signal, and digital signal-processing integrated circuits. The company offers a quarterly dividend of $0.86 per share and has been growing its dividends for the past 20 years. With a dividend yield of 1.77% as of January 31, ADI is one of the best consistent dividend stocks on our list.

As of the close of Q3 2023, 64 hedge funds in Insider Monkey’s database reported having stakes in Analog Devices, Inc. (NASDAQ:ADI), compared with 65 in the previous quarter. The consolidated value of these stakes is over $4.56 billion.

1. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 71

Chevron Corporation (NYSE:CVX) tops our list of the best consistent dividend stocks to invest in. The American multinational energy company has been growing its dividends for the past 36 years and offers a quarterly dividend of $1.51 per share. As of January 31, the stock has a dividend yield of 4.02%.

Of the 910 hedge funds tracked by Insider Monkey at the end of Q3 2023, 72 hedge funds owned stakes in Chevron Corporation (NYSE:CVX), down slightly from 73 in the previous quarter. These stakes are collectively valued at over $21.4 billion.

You can also take a look at 15 Best Dividend Paying Stocks To Buy Now and 15 Best Annual Dividend Stocks To Buy Now