5 High-Yield Dividend Stocks for Stable Income

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

Dividend Yield as of September 16: 8.95%

Altria Group, Inc. (NYSE:MO) is a Virginia-based producer and marketer of tobacco, cigarettes, and related products. The company has always remained committed to its shareholder return. In Q2 2022, it paid $1.6 billion in dividends to stakeholders and repurchased 10 million of its common shares for $507 million. At the end of June 2022, the company had $2.56 billion available in cash and cash equivalents, and its total assets amounted to over $36.7 billion.

On August 25, Altria Group, Inc. (NYSE:MO) declared a 4% increase in its quarterly dividend to $0.94 per share. This was the company’s 53rd consecutive year of dividend growth. As of September 16, the stock’s dividend yield stood at 8.95%. The company is determined to meet its dividend payout ratio target of 80%, as its five-year average payout ratio is 179.9%

As of the close of Q2 2022, 48 hedge funds tracked by Insider Monkey owned stakes in Altria Group, Inc. (NYSE:MO), worth over $1.8 billion. In the previous quarter, 47 hedge funds had investments in the tobacco company, with a total value of roughly $2 billion.