5 High-Yield UK Dividend Stocks to Buy Now

3. Imperial Brands PLC (LSE:IMB.L)

Dividend Yield as of May 11: 8.34%   

Imperial Brands PLC (LSE:IMB.L) makes and sells tobacco and related products. The company has an impressive dividend history stretching back more than 10 years. On February 17, it declared a dividend of $0.642 per share. The stock has been hit by the war in Ukraine as Russia is one of the largest tobacco markets in Europe. Inflationary tailwinds have also had their impact on margins. Despite these setbacks, the company is well-positioned to ride out the storm as the products it markets are cheaper than the competition.

In early February, Morgan Stanley analyst Rashad Kawan upgraded Imperial Brands PLC (LSE:IMB.L) stock to Equal Weight from Underweight and raised the price target to GBP 1,955 from GBP 1,680, citing valuation and buyback potential as some of the reasons behind the ratings update.