In this article, we discuss 5 best safe dividend stocks for 2024. If you want to read our detailed analysis of dividend stocks and their previous performance, go directly to read 15 Best Safe Dividend Stocks For 2024.
5. S&P Global Inc. (NYSE:SPGI)
Number of Hedge Fund Holders: 78
Payout Ratio: 29.9%
S&P Global Inc. (NYSE:SPGI) is a leading provider of financial information, analytics, and data for various industries worldwide. The company currently pays a quarterly dividend of $0.90 per share and has a dividend yield of 0.85%, as of December 5. It is one of the best dividend stocks on our list as the company has been raising its dividends for the past 50 years.
At the end of Q3 2023, 78 hedge funds in Insider Monkey’s database reported having stakes in S&P Global Inc. (NYSE:SPGI), compared with 82 in the preceding quarter. The collective value of these stakes is roughly $7 billion. With over 9 million shares, TCI Fund Management was the company’s leading stakeholder in Q3.
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4. Exxon Mobil Corporation (NYSE:XOM)
Number of Hedge Fund Holders: 79
Payout Ratio: 35.2%
Exxon Mobil Corporation (NYSE:XOM) is an American multinational energy company. The company has been growing its dividends for 41 consecutive years and it offers a quarterly dividend of $0.95 per share. As of December 5, the stock has a dividend yield of 3.78%.
At the end of the third quarter of 2023, Exxon Mobil Corporation (NYSE:XOM) was a part of 79 hedge fund portfolios, up from 71 in the preceding quarter. The stakes owned by these hedge funds have a collective value of over $4.4 billion.
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3. Walmart Inc. (NYSE:WMT)
Number of Hedge Fund Holders: 80
Payout Ratio: 34.61%
Walmart Inc. (NYSE:WMT) is one of the world’s largest retail corporations, operating a chain of hypermarkets, discount department stores, and grocery stores. The company is a Dividend King with 50 consecutive years of dividend growth under its belt. It currently pays a quarterly dividend of $0.57 per share for a dividend yield of 1.46%, as of December 5.
As of the end of Q3 2023, 80 hedge funds in Insider Monkey’s database owned stakes in Walmart Inc. (NYSE:WMT), compared with 81 in the previous quarter. The consolidated value of these stakes is nearly $6 billion.
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2. Johnson & Johnson (NYSE:JNJ)
Number of Hedge Fund Holders: 84
Payout Ratio: 44.8%
An American multinational healthcare company, Johnson & Johnson (NYSE:JNJ) is next on our list of the best dividend stocks. The company’s dividend growth streak currently stands at 61 years and it offers a quarterly dividend of $1.19 per share. The stock’s dividend yield on December 5 came in at 3.00%.
Insider Monkey’s third-quarter 2023 database showed that 84 hedge funds held investments in Johnson & Johnson (NYSE:JNJ), down slightly from 88 in the previous quarter. These stakes are collectively valued at over $4.1 billion.
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1. Union Pacific Corporation (NYSE:UNP)
Number of Hedge Fund Holders: 90
Payout Ratio: 49.8%
Union Pacific Corporation (NYSE:UNP) tops our list of the best dividend stocks to buy for 2024. The transportation company declared a quarterly dividend of $1.30 per share on November 28, which was in line with its previous dividend. Overall, the company holds a 16-year streak of consistent dividend growth. The stock has a dividend yield of 2.24%, as of December 5.
The number of hedge funds owning stakes in Union Pacific Corporation (NYSE:UNP) grew to 90 in Q3 2023, from 87 in the previous quarter. The consolidated value of these stakes is over $5.4 billion.
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You can also take a look at Billionaire Gabelli’s 10 Stock Picks with Huge Upside Potential and 14 Best Most Active Stocks to Buy Now
