5 Dividend Stocks with Over 8% Yield

On August 2, Devon Energy Corporation (NYSE:DVN) announced that it will pay a regular quarterly dividend of $0.20 per share, along with an additional dividend of $0.29 per share, resulting in a combined quarterly dividend of $0.49 per share. This is different from the previous dividend approach, which was $0.20 fixed and $0.52 variable per share. The stock’s dividend yield on August 18 came in at 10.27%.

Devon Energy Corporation (NYSE:DVN) was a part of 45 hedge fund portfolios at the end of Q2 2023, as tracked by Insider Monkey. The stakes owned by these hedge funds have a total value of over $638.6 million.

4. British American Tobacco p.l.c. (NYSE:BTI)

Dividend Yield as of August 18: 10.7%

British American Tobacco p.l.c. (NYSE:BTI) specializes in the manufacturing of tobacco, nicotine, and related products. The company is based in London, United Kingdom. On February 9, 2023, the company announced a dividend of £2.309 for every £0.25 regular share. This dividend will be given in four equal portions of £0.5772 per share, distributed in May 2023, August 2023, November 2023, and February 2024. With a dividend yield of 10.7% as of August 18, BTI is one of the best dividend stocks on our list.

As of the close of Q2 2023, 22 hedge funds in Insider Monkey’s database reported having stakes in British American Tobacco p.l.c. (NYSE:BTI), the same as in the previous quarter. The collective value of these stakes is nearly $489 million.

3. Barings BDC, Inc. (NYSE:BBDC)

Dividend Yield as of August 18: 11.43%

Barings BDC, Inc. (NYSE:BBDC) is an American business development company that specializes in providing financing and investment solutions to middle-market companies. On August 9, the company announced a 4% hike in its quarterly dividend to $0.26 per share. It has raised its dividends multiple times since 2018, which makes it one of the best dividend stocks on our list. The stock offers a dividend yield of 11.43%, as of August 18.

At the end of the June quarter of 2023, 12 hedge funds in Insider Monkey’s database reported having stakes in Barings BDC, Inc. (NYSE:BBDC), up from 11 in the previous quarter. The consolidated value of these stakes is over $38.6 million.

2. Arbor Realty Trust, Inc. (NYSE:ABR)

Dividend Yield as of August 18: 11.44%

Arbor Realty Trust, Inc. (NYSE:ABR) is a real estate investment trust company that acquires and manages a wide variety of real estate properties, with a primary focus on multifamily and commercial real estate. The company hiked its quarterly dividend by 2.4% to $0.43 on July 28. Through this increase, it took its dividend growth streak to 11 years, which makes it one of the best dividend stocks on our list. The stock’s dividend yield on August 18 came in at 11.44%.

Arbor Realty Trust, Inc. (NYSE:ABR) was a part of 12 hedge fund portfolios at the end of Q2 2023, according to Insider Monkey’s database. The total value of stakes owned by these hedge funds is over $55 million.

Silver Beech Capital mentioned Arbor Realty Trust, Inc. (NYSE:ABR) in its Q2 2023 investor letter. Here is what the firm has to say:

“Arbor Realty Trust, Inc. (NYSE:ABR) is a small-capitalization mortgage REIT that primarily originates bridge multifamily and single-family home loans. Arbor also has in-house asset-light agency loan origination and mortgage servicing right segments that are a good strategic fit for properties that mature out of Arbor’s bridge multifamily loan program. Over the last decade, in part due to Arbor’s unique business combination and capital allocation strength, the company has earned among the highest returns on equity and shareholder returns in the mortgage REIT sector. (Click here to read the full text)

1. Medical Properties Trust, Inc. (NYSE:MPW)

Dividend Yield as of August 18: 15.47%

Medical Properties Trust, Inc. (NYSE:MPW) tops our list of the best dividend stocks to consider with high yields. The company currently offers a quarterly dividend of $0.29 per share and has a dividend yield of 15.47%, as of August 18.

At the end of Q2 2023, 20 hedge funds tracked by Insider Monkey presented a bullish stance on Medical Properties Trust, Inc. (NYSE:MPW). The stakes owned by these hedge funds have a collective value of roughly $170 million.

Miller Value Partners mentioned Medical Properties Trust, Inc. (NYSE:MPW) in its Q2 2023 investor letter. Here is what the firm has to say:

“Medical Properties Trust, Inc. (NYSE:MPW) gained after it reported 1Q23 revenues of $350.2MM, -14.5% Y/Y, below consensus of $352.5MM, and Normalized Funds from Operations (FFO)/share of $0.37, -21.3% Y/Y, slightly below consensus of $0.38. The company’s CEO noted “The terms of recently announced transactions including Springstone, the acquisition by CommonSpirit of Steward’s Utah operations, Healthscope, and Prime, have valued our hospital investments near and in excess of our original purchase prices. This confirmation of our underwritten asset values by sophisticated market participants, as well as our existing liquidity and prudently planned debt structure, position us to have no debt maturities until 2025.” The REIT saw a modest uptick in leverage during the quarter, with the company’s Adjusted Net Debt to Annualized Earnings Before Interest, Taxes, Depreciation, and Amortization for Real Estate (EBITDAre) ratio standing at 6.5x as of quarter-end, compared to 6.4x as of 12/31/22. Management maintained its quarterly dividend of $0.29/share, or a 12.5% annualized yield. Management updated full-year 2023 (FY23) guidance for Normalized FFO/share of $1.56 (vs. prior guidance for $1.58), implying a P/FFO multiple of 5.9x, to account for the impact of announced deleveraging asset sales (and expected $1.4B in debt reduction).”