5 High Dividend Stocks to Shore Up Your Cash Position Before Recession Begins

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

Dividend Yield as of August 4: 8.14%

Altria Group, Inc. (NYSE:MO) is an American producer of tobacco and related products. The company’s business has been going strong for years, with its free cash flow amounting to over $8 billion in FY21. Its recent quarterly earnings show that the company has repurchased over 10 million of its common shares for a total cost of over $507 million. Moreover, the company had over $2.5 billion available in cash at the end of Q2, with its total assets amounting to $36.7 billion.

Altria Group, Inc. (NYSE:MO) has a run of growing dividends consistently for the past 52 years. The company pays a quarterly dividend of $0.90 per share, with a yield of 8.14%, recorded on August 4.

Jefferies set a $54 price target on Altria Group, Inc. (NYSE:MO) in July, with a Buy rating on the shares but expressed concerns due to slow growth in cigarette volumes in the US.

At the end of Q1 2022, 47 hedge funds in Insider Monkey’s database owned stakes in Altria Group, Inc. (NYSE:MO), up from 39 a quarter earlier. These stakes are collectively valued at nearly $2 billion. GQG Partners was the leading stakeholder of the Virginia-based company in Q1, owning stakes worth over $956.2 million.

You can also take a look at 10 Value Stocks Hedge Funds Like in 2022 and Oil Price Predictions for 2022 and 10 Stocks to Watch

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