In this article, we discuss 5 highest yielding Dow Jones dividend stocks. If you want to read our detailed analysis of dividend stocks and their performance in the past, go directly to read 12 Highest Yielding Dow Jones Dividend Stocks.
5. International Business Machines Corporation (NYSE:IBM)
Dividend Yield as of July 19: 4.91%
International Business Machines Corporation (NYSE:IBM) is an American multinational tech company that offers a diverse range of products and services in the information technology (IT) industry. In the first quarter of 2023, the company posted revenue of $14.3 billion, up 0.7% from the same period last year. Its free cash flow and operating cash flow also grew to $1.3 billion and $3.8 billion, respectively.
International Business Machines Corporation (NYSE:IBM), one of the best dividend stocks, has been growing its dividends consistently for the past 28 years. The company currently pays a quarterly dividend of $1.66 per share and has a dividend yield of 4.91%, as of July 19.
In Q1 2023, International Business Machines Corporation (NYSE:IBM) saw a favorable sentiment among hedge funds. According to Insider Monkey’s database, 49 funds owned investments in the company during Q1, an increase from 43 funds in the previous quarter. The total value of these investments is over $1.47 billion.
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4. Dow Inc. (NYSE:DOW)
Dividend Yield as of July 19: 5.29%
An American chemicals company, Dow Inc. (NYSE:DOW) has been paying regular dividends to shareholders since 1912. It currently pays a quarterly dividend of $0.70 per share and its dividend yield on July 19 came in at 5.29%.
In the first quarter of 2023, Dow Inc. (NYSE:DOW) generated roughly $12 billion in revenues, which beat Street estimates by $560 million. Its operating cash flow during the quarter amounted to $531 million. It also returned $496 million to shareholders in dividends, which makes it one of the best dividend stocks on our list.
As of the close of Q1 2023, 45 hedge funds in Insider Monkey’s database reported having stakes in Dow Inc. (NYSE:DOW), the same as in the previous quarter. These stakes have a total value of over $1.322 billion.
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3. 3M Company (NYSE:MMM)
Dividend Yield as of July 19: 5.82%
3M Company (NYSE:MMM) is a diversified multinational conglomerate that operates in various industries and offers a wide range of products and solutions. The company has raised its dividends for 65 years straight and offers a quarterly dividend of $1.50 per share. With a dividend yield of 5.82%, MMM is one of the best dividend stocks on our list.
At the end of Q1 2023, 3M Company (NYSE:MMM) was a part of 51 hedge fund portfolios, according to Insider Monkey’s database. The total value of stakes owned by these funds is more than $697.3 million. With roughly 2.5 million shares, Citadel Investment Group was the company’s leading stakeholder in Q1.
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2. Walgreens Boots Alliance, Inc. (NASDAQ:WBA)
Dividend Yield as of July 19: 6.49%
Walgreens Boots Alliance, Inc. (NASDAQ:WBA) is a global retail pharmacy and healthcare company. It operates a vast network of retail pharmacies, drugstores, and healthcare services across multiple countries. On July 12, the company declared a quarterly dividend of $0.48 per share, which was in line with its previous dividend. It is one of the best dividend stocks on our list with 47 consecutive years of dividend growth under its belt. The stock offers a dividend yield of 6.49%, as of July 19.
At the end of Q1 2023, 39 hedge funds in Insider Monkey’s database owned stakes in Walgreens Boots Alliance, Inc. (NASDAQ:WBA), compared with 42 in the previous quarter. These stakes have a total value of over $678.5 million.
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1. Verizon Communications Inc. (NYSE:VZ)
Dividend Yield as of July 19: 8.09%
Verizon Communications Inc. (NYSE:VZ) tops our list of the best dividend stocks in the Dow Jones with a dividend yield of 8.09%. The multinational telecommunications company has raised its dividends for 16 years in a row. It currently pays a quarterly dividend of $0.6525 per share.
As of the close of Q1 2023, the number of hedge funds in Insider Monkey’s database holding stakes in Verizon Communications Inc. (NYSE: VZ) increased to 59 from 56 in the previous quarter. The combined value of these stakes reached over $1.3 billion.
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You can also take a look at 10 Best Oil Stocks Under $20 and 12 Best NASDAQ Stocks Under $20
