5 High-Yield UK Dividend Stocks to Buy Now

1. Rio Tinto Group (NYSE:RIO)

Dividend Yield as of May 11: 12.12% 

Rio Tinto Group (NYSE:RIO) is a diversified metals and mining firm. Jakob Stausholm, the CEO of the firm, said at the general meeting of the company on May 5 that Rio Tinto was planning to increase growth capital spending to around $4 billion per year by 2023. The announcement comes as copper and iron futures fall to record lows. Per Stausholm, the growth capital spending will focus on materials required for energy transition. The company has reignited interest in the Jadar lithium mine in Serbia as part of this initiative. 

On April 21, investment advisory JPMorgan maintained a Neutral rating on Rio Tinto Group (NYSE:RIO) stock with a price target of GBP 5,730. Analyst Lyndon Fagan issued the ratings update. 

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Rio Tinto Group (NYSE:RIO), with 14 million shares worth more than $1.1 billion. 

You can also take a peek at 10 Russell 2000 Basic Materials Dividend Stocks to Buy and 10 Utilities Stocks with Over 3% Dividend Yield.

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