Dividend Achievers List Ranked By Yield: Top 10

In this article, we discuss top 10 high-yielding dividend achievers. If you want to read our detailed analysis of dividend stocks and their performance, go directly to read Dividend Achievers List Ranked By Yield: Top 25.

10. HNI Corporation (NYSE:HNI)

Dividend Yield as of December 19: 4.68%

HNI Corporation (NYSE:HNI) is one of the world’s largest office furniture manufacturers. The company also specializes in other electric and wood products. In the third quarter of 2022, the company reported revenue of nearly $600 million, which showed a 2.1% growth from the same period last year. At the end of October, it had over $21 million available in cash and cash equivalents.

HNI Corporation (NYSE:HNI) is one of the best dividend stocks on our list as the company has raised its dividends consistently for the past 12 years. It currently offers a quarterly dividend of $0.32 per share and has a dividend yield of 4.68%, as of December 19.

At the end of Q3 2022, 11 hedge funds tracked by Insider Monkey reported owning stakes in HNI Corporation (NYSE:HNI), up from 10 in the previous quarter. The collective value of these stakes is over $17.3 million. Millennium Management was the company’s leading stakeholder in Q3.

9. Digital Realty Trust, Inc. (NYSE:DLR)

Dividend Yield as of December 19: 4.81%

Digital Realty Trust, Inc. (NYSE:DLR) is a California-based real estate investment trust company that invests in carrier-neutral data centers. Deutsche Bank gave a positive stance on the sector heading into 2023. Given this, the firm raised its price target on the stock in December to $115 with a Buy rating on the shares.

At the end of September, Digital Realty Trust, Inc. (NYSE:DLR) had roughly $177 million available in cash and cash equivalents, compared with $99.2 million in June. The company’s strong position allowed it to pay $10 million in dividends during the third quarter of 2022. Moreover, it generated $1.2 billion in revenue in Q3, up 4.4% from the same period last year.

On November 30, Digital Realty Trust, Inc. (NYSE:DLR) declared a quarterly dividend of $1.22 per share, which fell in line with its previous dividend. The company has raised its dividends for 17 years in a row, which places it as one of the best dividend stocks on our list. As of December 19, the stock has a dividend yield of 4.81%.

As of the close of Q3 2022, 29 hedge funds tracked by Insider Monkey owned stakes in Digital Realty Trust, Inc. (NYSE:DLR), worth $486 million collectively.

Baron Funds mentioned Digital Realty Trust, Inc. (NYSE:DLR) in its Q2 2022 investor letter. Here is what the firm has to say:

“Digital Realty Trust, Inc. is a premier global data center REIT with more than 290 data centers and more than 4,000 customers. It maintains an investment grade balance sheet. The company is currently valued at only 20 times cash flow (EBITDA) versus several recent private data center transactions that were completed at 25 times to 30 times cash flow.”

8. Financial Institutions, Inc. (NASDAQ:FISI)

Dividend Yield as of December 19: 4.83%

Financial Institutions, Inc. (NASDAQ:FISI) is a bank holding company, based in New York, US. The company provides diversified financial services to its consumers. The company currently pays a quarterly dividend of $0.29 per share and has a dividend yield of 4.83%, as of December 19. It holds a 12-year track record of consistent dividend growth.

In Q3 2022, Financial Institutions, Inc. (NASDAQ:FISI) reported revenue of $55.7 million, which showed a 10.6% growth from the same period last year. At the end of September, the company had $118.5 million in cash and cash equivalents, compared with $109.7 million three months ago. It also paid 33% of its third-quarter net income to shareholders through dividends, which makes it one of the best dividend stocks to buy.

As per Insider Monkey’s Q3 database, Financial Institutions, Inc. (NASDAQ:FISI) was a part of 9 hedge fund portfolios, compared with 8 in the previous quarter. The stakes owned by these hedge funds have a total value of over $18.2 million. Among these hedge funds, Renaissance Technologies was the company’s leading stakeholder in Q3.

7. CubeSmart (NYSE:CUBE)

Dividend Yield as of December 19: 4.85%

CubeSmart (NYSE:CUBE) is an American self-storage company that operates over 1200 self-storage facilities in the country. In December, Truist maintained a Hold rating on the stock with a $46 price target, highlighting the company’s recent quarterly earnings.

On December 7, CubeSmart (NYSE:CUBE) declared a 14% hike in its quarterly dividend to $0.49 per share. This marked the company’s 13th consecutive year of dividend growth. The stock’s dividend yield on December 19 came in at 4.85%.

The number of hedge funds tracked by Insider Monkey owning stakes in CubeSmart (NYSE:CUBE) grew to 24 in Q3 2022, from 18 a quarter earlier. The collective value of these stakes is over $342 million.

6. KeyCorp (NYSE:KEY)

Dividend Yield as of December 19: 4.93%

KeyCorp (NYSE:KEY) is an American retail banking company that provides financial services to retail, small businesses, and other clients. In the third quarter of 2022, the company’s revenue of $1.89 billion saw a 4% growth from the same period last year. Its total earnings assets at the end of September came in at $172.6 billion, up from $168.5 billion in June.

On November 17, KeyCorp (NYSE:KEY) declared a 5.1% hike in its quarterly dividend to $0.205 per share. This was the company’s 12th consecutive year of dividend growth, which makes it one of the best dividend stocks on our list. The stock has a dividend yield of 4.93%, as of December 19.

Morgan Stanley assumed its coverage of KeyCorp (NYSE:KEY) with an Equal Weight rating and a $22 price target, appreciating the company’s performance in the rising interest rate environment.

As per Insider Monkey’s Q3 2022 database, 33 hedge funds owned stakes in KeyCorp (NYSE:KEY), down from 37 in the previous quarter. These stakes are collectively worth over $454.3 million. With 6.3 million shares, Adage Capital Management was the company’s largest stakeholder in Q3.

5. LyondellBasell Industries N.V. (NYSE:LYB)

Dividend Yield as of December 19: 5.91%

LyondellBasell Industries N.V. (NYSE:LYB) is a Netherland-based multinational chemical industry company that specializes in the production of polyethylene. In December, Citigroup raised its price target on the stock to $92 with a Neutral rating on the shares, presenting a positive outlook for the chemical industry.

In Q3 2022, LyondellBasell Industries N.V. (NYSE:LYB) reported revenue of $12.2 billion and its net income came in at $572 million. The company generated over $1.4 billion in operating cash flow and paid over $550 million to shareholders in dividends and share repurchases. Its strong cash position makes it one of the best dividend stocks on our list.

LyondellBasell Industries N.V. (NYSE:LYB) is a Dividend Achiever with 12 years of consistent dividend growth. The company currently offers a quarterly dividend of $1.19 per share and has a dividend yield of 5.91%, as of December 19.

At the end of September, 38 hedge funds tracked by Insider Monkey reported owning stakes in LyondellBasell Industries N.V. (NYSE:LYB), compared with 37 in the previous quarter. The collective value of these stakes is over $825.7 million.

Miller Howard Investments shared its outlook on LyondellBasell Industries N.V. (NYSE:LYB) in its Q3 2021 investor letter. Here’s what the firm said:

“We initiated a position in LyondellBasell (LYB). Chemical markets are currently robust given the combination of 2020 plant shutdowns and strongly recovering demand. Despite the tailwinds, Lyondell trades at a low valuation and yields just under 5%.”

4. Kennedy-Wilson Holdings, Inc. (NYSE:KW)

Dividend Yield as of December 19: 6.10%

Kennedy-Wilson Holdings, Inc. (NYSE:KW) is a California-based real estate investment firm that acquires undervalued commercial and residential assets in high-growth markets. The company currently pays a quarterly dividend of $0.24 per share for a dividend yield of 6.10%. It maintains a 10-year streak of consistent dividend growth, which places it as one of the best dividend stocks on our list.

In Q3 2022, Kennedy-Wilson Holdings, Inc. (NYSE:KW) reported revenue of $139.6 million, which showed a 22% growth from the same period last year. As of September, the company had over $420 million available in cash and cash equivalents.

As of the close of Q3 2022, 15 hedge funds tracked by Insider Monkey reported owning stakes in Kennedy-Wilson Holdings, Inc. (NYSE:KW), up from 11 in the preceding quarter. These stakes have a total value of nearly $392 million.

3. Lincoln National Corporation (NYSE:LNC)

Dividend Yield as of December 19: 6.17%

Lincoln National Corporation (NYSE:LNC) is an American multinational insurance company. The company was a popular buy among hedge funds in Q3 2022, as 39 funds in Insider Monkey’s database owned stakes in the company, up from 34 in the previous quarter. The collective value of these stakes is over $570.7 million.

In December, Keefe Bruyette maintained a Market Perform rating on Lincoln National Corporation (NYSE:LNC) with a $33 price target, calling the company one of its favorite defensive names in the current market.

Lincoln National Corporation (NYSE:LNC) currently offers a quarterly dividend of $0.45 per share and has a dividend yield of 6.17%, as of December 19. It is one of the best dividend stocks on our list as the company has raised its dividends consistently for the past 11 years.

2. Enterprise Products Partners L.P. (NYSE:EPD)

Dividend Yield as of December 19: 7.98%

Enterprise Products Partners L.P. (NYSE:EPD) is an American midstream natural gas and crude oil company, based in Texas. The stock was initiated with a Buy at Citi in December, with a $31 price target. The firm presented a positive outlook for the midstream sector and mentioned that the industry is prepared for macro headwinds.

Enterprise Products Partners L.P. (NYSE:EPD) reported a strong cash position in Q3 2022 with its distributable cash flow amounting to nearly $2 billion, up from $1.6 billion during the same period last year. Moreover, its adjusted operating cash flow amounted to $2 billion, up from $1.7 billion in Q3 2021.

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend of $0.475 per share, which fell in line with its previous dividend. The company has been raising its dividends consistently for the past 22 years. The stock’s dividend yield on December 19 came in at 7.98%.

At the end of Q3 2022, 21 hedge funds tracked by Insider Monkey owned stakes in Enterprise Products Partners L.P. (NYSE:EPD), compared with 23 in the previous quarter. The collective worth of these stakes is over $221.6 million.

Fairholme Capital Management mentioned Enterprise Products Partners L.P. (NYSE:EPD) in its Q2 2022 investor letter. Here is what the firm has to say:

“Enterprise Products Partners L.P. (NYSE:EPD) is the largest position in the Fund. Enterprise provides processing and transportation services to producers and consumers of natural gas, natural gas liquids, and oil. These hydrocarbons are critical for modern life and have few if any, ready substitutes. Commodity prices do not greatly affect the company’s toll road fees. Enterprise is priced at less than nine times distributable cash flows and pays a 7.5% cash distribution.”

1. Magellan Midstream Partners, L.P. (NYSE:MMP)

Dividend Yield as of December 19: 8.30%

Magellan Midstream Partners, L.P. (NYSE:MMP) is an Oklahoma-based partnership that specializes in ammonia and petroleum pipelines in the Mid-continent oil province. In Q3 2022, the company reported strong cash generation. Its free cash flow came in at $273 million, up from $252 million in the same period last year.

Magellan Midstream Partners, L.P. (NYSE:MMP) offers a quarterly dividend of $1.0475 per share, having raised it by 1% in October this year. This was the company’s 22nd consecutive year of dividend growth. As of December 19, the stock has a dividend yield of 8.30%.

At the end of Q3 2022, 10 hedge funds tracked by Insider Monkey owned stakes in Magellan Midstream Partners, L.P. (NYSE:MMP), up from 9 in the previous quarter. The collective value of these stakes is over $20.2 million. With 1.6 million shares, First Eagle Investment Management was the company’s leading stakeholder in Q3.

You can also take a look at 10 Biggest Dividend Cuts and Suspensions of 2022 and 16 Best Dividend Stocks of 2022

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