5 Best October Dividend Stocks To Buy

In this article, we discuss 5 best October dividend stocks to buy now. If you want to read our detailed analysis of dividend stocks and the dividend capture strategy, go directly to read 10 Best October Dividend Stocks To Buy. 

5. Abbott Laboratories (NYSE:ABT)

Ex-Dividend Date: October 12

Abbott Laboratories (NYSE:ABT) is a diversified global healthcare company that operates in various sectors of the healthcare industry. The company currently pays a quarterly dividend of $0.51 per share and has a dividend yield of 2.13%, as of October 4. It is one of the best dividend stocks on our list as the company has raised its dividends for 51 years straight.

At the end of Q2 2023, 62 hedge funds in Insider Monkey’s database reported having stakes in Abbott Laboratories (NYSE:ABT), compared with 70 in the previous quarter. The collective value of these stakes is over $1.18 billion. With over 5 million shares, Diamond Hill Capital was the company’s leading stakeholder in Q2.

4. Hormel Foods Corporation (NYSE:HRL)

Ex-Dividend Date: October 13

Hormel Foods Corporation (NYSE:HRL) is a Minnesota-based multinational food company that specializes in producing and marketing a wide range of food products. The company is a Dividend King with 57 consecutive years of dividend growth under its belt. It currently pays a quarterly dividend of $0.275 per share and has a dividend yield of 2.89%, as of October 4. The stock will be trading ex-dividend on October 13.

As of the close of the second quarter of 2023, 24 hedge funds in Insider Monkey’s database reported having stakes in Hormel Foods Corporation (NYSE:HRL), compared with 30 in the previous quarter. The collective value of these stakes is over $267.2 million.

3. CVS Health Corporation (NYSE:CVS)

Ex-Dividend Date: October 19

CVS Health Corporation (NYSE:CVS) is next on our list of the best dividend stocks that will be trading ex-dividend in October. The diversified healthcare company operates in various segments of the healthcare industry. It currently pays a quarterly dividend of $0.605 per share and has a dividend yield of 3.51%, as of October 4.

At the end of June 2023, 66 hedge funds in Insider Monkey’s database held stakes in CVS Health Corporation (NYSE:CVS), worth collectively over $2.17 billion. Among these hedge funds, Two Sigma Advisors owned the largest stake in the company, valued at roughly $400 million.

2. Krispy Kreme, Inc. (NASDAQ:DNUT)

Ex-Dividend Date: October 25

Krispy Kreme, Inc. (NASDAQ:DNUT) is a global doughnut and coffeehouse chain known for its iconic and freshly made doughnuts. The company started its dividend policy in 2021 and has paid regular dividends to shareholders since then. It currently pays a quarterly dividend of $0.035 per share and has a dividend yield of 1.10%, as of October 4. The stock will be going ex-dividend on October 25.

As of the end of Q2 2023, 12 hedge funds tracked by Insider Monkey owned stakes in Krispy Kreme, Inc. (NASDAQ:DNUT), up from 10 in the previous quarter. The total value of these stakes is over $40.7 million.

1. Texas Instruments Incorporated (NASDAQ:TXN)

Ex-Dividend Date: October 30

Texas Instruments Incorporated (NASDAQ:TXN) tops our list of the best dividend stocks. The global semiconductor company has been raising its dividends consistently for the past 12 years. It offers a quarterly dividend of $1.30 per share, having raised it by 4.8% on September 21. As of October 4, the stock has a dividend yield of 3.29%.

The number of hedge funds tracked by Insider Monkey owning stakes in Texas Instruments Incorporated (NASDAQ:TXN) stood at 56 in Q2 2023, growing from 52 a quarter earlier. The overall value of these stakes is over $2.34 billion.

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