5 Best March Dividend Stocks To Buy

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

5. Comerica Incorporated (NYSE:CMA)

Ex-Dividend Date: March 14

Comerica Incorporated (NYSE:CMA) is a Texas-based financial services company that provides a range of banking, lending, wealth management, and other financial services to individuals, businesses, and institutional clients. The company offers a quarterly dividend of $0.71 per share, having raised it 4% in 2023. The stock’s dividend yield on March 5 came in at 5.70%.

At the end of Q4 2023, 39 hedge funds in Insider Monkey’s database owned stakes in Comerica Incorporated (NYSE:CMA), compared with 42 in the previous quarter. The consolidated value of these stakes is more than $755.2 million.

4. Leggett & Platt, Incorporated (NYSE:LEG)

Ex-Dividend Date: March 14

Leggett & Platt, Incorporated (NYSE:LEG) specializes in the production of engineered components and products for a variety of industries, including bedding, furniture, automotive, aerospace, and consumer goods. The company has raised its dividends for the past 52 years in a row and offers a quarterly dividend of $0.46 per share. With a dividend yield of 8.83% as of March 5, LEG is one of the best dividend stocks on our list.

As of the close of Q4 2023, 24 hedge funds in Insider Monkey’s database reported having stakes in Leggett & Platt, Incorporated (NYSE:LEG), up from 19 in the previous quarter. These stakes are worth over $123.6 million. With over 1 million shares, Millennium Management was the company’s leading stakeholder in Q4.

3. Waste Management, Inc. (NYSE:WM)

Ex-Dividend Date: March 14

Waste Management, Inc. (NYSE:WM) is a leading provider of comprehensive waste management and environmental services in North America. On March 1, the company declared a 7% hike in its quarterly dividend to $0.75 per share. Through this increase, the company stretched its dividend growth streak to 21 years, which makes WM one of the best dividend stocks on our list. As of March 5, the stock has a dividend yield of 1.45%.

According to Insider Monkey’s database of Q4 2023, 45 hedge funds tracked by Insider Monkey held stakes in Waste Management, Inc. (NYSE:WM), growing from 41 in the preceding quarter. The collective value of these stakes is over $7.28 billion.

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

Ex-Dividend Date: March 20

An American retailer, Best Buy Co., Inc. (NYSE:BBY) is next on our list of the best dividend stocks. The company pays a quarterly dividend of $0.94, raising it by 2.2% in March this year. This was the company’s 11th consecutive annual dividend hike. As of March 22, BBY has a dividend yield of 4.85%.

Insider Monkey’s database of Q4 2023 showed that 32 hedge funds owned stakes in Best Buy Co., Inc. (NYSE:BBY), up from 28 in the previous quarter. The total value of these stakes is over $309.4 million. Among these hedge funds, AQR Capital Management was the company’s leading stakeholder in Q4.

1. Altria Group, Inc. (NYSE:MO)

Ex-Dividend Date: March 22

Altria Group, Inc. (NYSE:MO) will be trading ex-dividend on March 22. The multinational tobacco company has been growing its dividends for the past 54 consecutive years and offers a quarterly dividend of $0.98 per share. The stock’s dividend yield on March 5 came in at 9.87%.

At the end of the fourth quarter of 2023, 42 hedge funds in Insider Monkey’s database held stakes in Altria Group, Inc. (NYSE:MO), up from 40 in the previous quarter. These stakes are worth over $1.08 billion.

You can also take a look at 12 Stocks Most Bought By Hedge Funds and 12 Tech Stocks To Sell Right Now According To Cathie Wood