5 Best December Dividend Stocks To Buy

In this article, we discuss 5 best December dividend stocks to buy now. If you want to read our detailed analysis of dividend stocks, their performance, and dividend capture strategy, go directly to read 11 Best December Dividend Stocks To Buy. 

5. Best Buy Co., Inc. (NYSE:BBY)

Ex-Dividend Date: December 11

Best Buy Co., Inc. (NYSE:BBY) is a Minnesota-based leading retailer specializing in consumer electronics, technology products, and services. The company declared a quarterly dividend of $0.92 per share on November 21, which fell in line with its previous dividend. Overall, it holds a 10-year streak of consistent dividend growth, which makes BBY one of the best dividend stocks on our list. The stock will be trading ex-dividend on December 11 and has a dividend yield of 5.20%, as of November 29.

At the end of Q3 2023, 28 hedge funds tracked by Insider Monkey reported having stakes in Best Buy Co., Inc. (NYSE:BBY), compared with 31 in the previous quarter. The total value of these stakes is over $311.8 million.

4. UGI Corporation (NYSE:UGI)

Ex-Dividend Date: December 14

UGI Corporation (NYSE:UGI) is an American natural gas and electric power distribution company that operates in various sectors within the energy industry. The company has been raising its dividends for 39 consecutive years and currently pays a quarterly dividend of $0.375 per share. The stock has a dividend yield of 6.87%, as of November 29.

As of the close of Q3 2023, 29 hedge funds owned stakes in UGI Corporation (NYSE:UGI), up from 22 in the quarter before, according to Insider Monkey’s database. These stakes are collectively valued at nearly $292 million.

3. Merck & Co., Inc. (NYSE:MRK)

Ex-Dividend Date: December 14

Merck & Co., Inc. (NYSE:MRK) is next on our list of the best dividend stocks to buy now. The American pharmaceutical company announced a 5.5% hike in its quarterly dividend to $0.77 per share on November 28. This marked the company’s 12th consecutive year of dividend growth. The stock has a dividend yield of 2.89%, as of November 29.

Insider Monkey’s database of Q3 2023 indicated that 85 hedge funds owned stakes in Merck & Co., Inc. (NYSE:MRK), up significantly from 78 in the previous quarter. The collective value of these stakes is over $5.06 billion. Ken Fisher’s Fisher Asset Management was the company’s leading stakeholder in Q3.

2. Cincinnati Financial Corporation (NASDAQ:CINF)

Ex-Dividend Date: December 18

Cincinnati Financial Corporation (NASDAQ:CINF) is an American insurance company that provides a range of property and casualty insurance products. The company offers a quarterly dividend of $0.75 per share and has a dividend yield of 2.98%, as of November 29. It is one of the best dividend stocks on our list as the company holds a 62-year streak of consistent dividend growth.

The number of hedge funds tracked by Insider Monkey owning stakes in Cincinnati Financial Corporation (NASDAQ:CINF) grew to 31 in Q3 2023, from 26 in the previous quarter. The collective value of these stakes is roughly $420 million.

1. McCormick & Company, Incorporated (NYSE:MKC)

Ex-Dividend Date: December 28

An American food company, McCormick & Company, Incorporated (NYSE:MKC) tops our list of the best dividend stocks. The company declared a quarterly dividend of $0.42 per share on November 28, having raised it by 7.7%. Through this increase, it took its dividend growth streak to 38 years. The stock has a dividend yield of 2.43%, as of November 29.

At the end of September 2023, 33 hedge funds owned stakes in McCormick & Company Incorporated (NYSE:MKC), according to Insider Monkey’s database. The consolidated value of these stakes is roughly $1.5 billion.

You can also take a look at 12 Best High Yield Dividend Stocks To Buy According to Billionaire Gabelli and 12 Best Quality Stocks To Buy Now