5 Most Reliable Dividend Stocks To Buy

In this article, we discuss 5 most reliable dividend stocks to buy. If you want to read our detailed analysis of dividend stocks and their performance over the years, go directly to read 12 Most Reliable Dividend Stocks To Buy. 

5. Carlisle Companies Incorporated (NYSE:CSL)

Payout Ratio in 2023: 22.5%

Carlisle Companies Incorporated (NYSE:CSL) is a diversified manufacturing company that operates across various industries. The company has been growing its dividends for the past 47 years and offers a quarterly dividend of $0.85 per share. As of March 11, the stock has a dividend yield of 0.96%.

At the end of Q4 2023, 35 hedge funds tracked by Insider Monkey reported having stakes in Carlisle Companies Incorporated (NYSE:CSL), down from 37 in the previous quarter. These stakes are collectively valued at over $765.4 million.

4. Aflac Incorporated (NYSE:AFL)

Payout Ratio in 2023: 21.59%

Aflac Incorporated (NYSE:AFL) is a Georgia-based insurance company that is known for its supplemental insurance products, particularly in the field of health and life insurance. The company pays a quarterly dividend of $0.50 per share, having raised it by 19% in January this year. This was the company’s 42nd consecutive year of dividend growth, which makes AFL one of the best dividend stocks on our list. The stock’s dividend yield on March 11 came in at 2.44%.

As of the end of Q4 2023, 28 hedge funds owned stakes in Aflac Incorporated (NYSE:AFL), up from 25 in the previous quarter, according to Insider Monkey’s database. These stakes have a consolidated value of over $236 million. Ariel Investments owned the largest stake in the company in Q4.

3. W.W. Grainger, Inc. (NYSE:GWW)

Payout Ratio in 2023: 20.15%

With a dividend payout ratio of 20.15% in 2023, W.W. Grainger, Inc. (NYSE:GWW) is next on our list of the best dividend stocks. The American distribution company’s quarterly dividend comes in at $1.86 per share for a dividend yield of 0.77%, as of March 11. It holds a strong 51-year streak of consistent dividend growth.

The number of hedge funds tracked by Insider Monkey owning stakes in W.W. Grainger, Inc. (NYSE:GWW) grew to 35 in Q4 2023, from 32 in the previous quarter. These stakes have a total value of over $475.6 million.

2. Brown & Brown, Inc. (NYSE:BRO)

Payout Ratio in 2023: 15.5%

Brown & Brown, Inc. (NYSE:BRO) is an insurance brokerage firm that provides a wide range of insurance products and services to individuals and businesses across various industries. In 2023, the company achieved its 30th consecutive year of dividend growth, which places it as one of the best dividend stocks on our list. It pays a quarterly dividend of $0.13 per share and has a dividend yield of 0.61%, as of March 11.

Brown & Brown, Inc. (NYSE:BRO) was a popular stock among elite funds in Q4 2023 as 32 hedge funds in Insider Monkey’s database held stakes in the company, growing from 23 a quarter earlier. These stakes are valued at over $1.43 billion in total. With over 14.3 million shares, Select Equity Group was the company’s leading stakeholder in Q4.

1. West Pharmaceutical Services, Inc. (NYSE:WST)

Payout Ratio in 2023: 9.77%

West Pharmaceutical Services, Inc. (NYSE:WST) tops our list of the best dividend stocks with a dividend payout ratio of 9.77% in 2023. The global healthcare products packaging and delivery systems company has been rewarding shareholders with growing dividends for the past 31 years. It offers a quarterly dividend of $0.20 per share and has a dividend yield of 0.22%, as of March 11.

At the end of Q4 2023, 42 hedge funds owned stakes in West Pharmaceutical Services, Inc. (NYSE:WST), which remained unchanged from the previous quarter, as per our database. These stakes are collectively worth over $1.2 billion.

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