5 Highest Yielding Dividend Stocks in the Dow

In this article, we discuss 5 highest yielding dividend stocks in the Dow. If you want to read our detailed analysis of high dividend stocks and their performance over the years, go directly to read 13 Highest Yielding Dividend Stocks in the Dow. 

5. Chevron Corporation (NYSE:CVX)

Dividend Yield as of February 12: 4.29%

Chevron Corporation (NYSE:CVX) is a multinational energy corporation primarily engaged in the exploration, production, refining, and marketing of oil, natural gas, and other energy-related products. With a dividend yield of 4.29% as of February 12, CVX ranks fifth on our list of the highest yielding dividend stocks in the Dow. On February 2, the company declared a 7.9% hike in its quarterly dividend to $1.63 per share. This marked the company’s 37th consecutive annual dividend increase.

At the end of the third quarter of 2023, 72 hedge funds tracked by Insider Monkey reported having stakes in Chevron Corporation (NYSE:CVX), compared with 73 in the previous quarter. These stakes have a consolidated value of over $21.4 billion.

4. Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Dividend Yield as of February 12: 4.44%

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) is an Illinois-based multinational healthcare company that operates a diverse portfolio of businesses in the pharmaceutical, retail, and wholesale sectors. The company currently pays a quarterly dividend of $0.25 per share and has a dividend yield of 4.44%, as recorded on February 12.

As of the end of September 2023, 31 hedge funds in Insider Monkey’s database owned stakes in Walgreens Boots Alliance, Inc. (NASDAQ:WBA), compared with 34 in the preceding quarter. The collective value of these stakes is roughly $460 million. With over 5.4 million shares, Marshall Wace LLP was the company’s largest shareholder in Q3.

3. Dow Inc. (NYSE:DOW)

Dividend Yield as of February 12: 5.12%

Dow Inc. (NYSE:DOW) is next on our list of the highest yielding dividend stocks in the Dow. The multinational chemical corporation operates across various sectors of the chemical industry. The company pays a quarterly dividend of $0.70 per share and has a dividend yield of 5.12%, as of February 12. It has been rewarding shareholders with regular dividends since 1912.

Of the 910 hedge funds tracked by Insider Monkey at the end of Q3 2023, 39 funds owned stakes in Dow Inc. (NYSE:DOW), growing from 37 a quarter earlier. These stakes have a total value of over $1.38 billion.

2. 3M Company (NYSE:MMM)

Dividend Yield as of February 12: 6.39%

3M Company (NYSE:MMM) is a multinational conglomerate corporation that operates in various sectors, offering a diverse range of products and services. The company declared a 0.7% increase in its quarterly dividend to $1.51 per share on February 6. Through this hike, the company stretched its dividend growth streak to 66 years, which makes MMM one of the highest yielding dividend stocks on our list. The stock’s dividend yield on February 12 came in at 6.39%.

The number of hedge funds tracked by Insider Monkey owning stakes in 3M Company (NYSE:MMM) grew to 54 in Q3 2023, from 45 in the previous quarter. The collective value of these stakes is more than $818.6 million.

1. Verizon Communications Inc. (NYSE:VZ)

Dividend Yield as of February 12: 6.65%

Verizon Communications Inc. (NYSE:VZ) is a multinational telecommunications conglomerate that provides a wide range of communication services and solutions to consumers, businesses, and government entities. With a dividend yield of 6.65% as of February 12, VZ tops our list of the highest yielding dividend stocks. The company offers a quarterly dividend of $0.665 per share and has been raising its dividends for the past 17 years.

Insider Monkey’s database indicated that Verizon Communications Inc. (NYSE:VZ) ended Q3 2023 with 61 hedge fund positions, up from 53 in the previous quarter. The stakes owned by these hedge funds have a collective value of nearly $1.4 billion. Among these hedge funds, Marshall Wace LLP was the company’s leading stakeholder in Q3.

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