In this article, we discuss top 25 high-yielding dividend achievers. You can skip our detailed analysis of dividend stocks and their performance, and go directly to read Dividend Achievers List Ranked By Yield: Top 10.
Dividend Achievers are the stocks that have raised their payouts for at least 10 years straight. These companies usually have sound financial health, which helps them to produce stable earnings over the years. This year’s record inflation has brought dividend growers to the forefront. Investors are loading up on these securities to increase the value of their portfolios. Some of the best dividend stocks in this regard are Exxon Mobil Corporation (NYSE:XOM), Merck & Co., Inc. (NYSE:MRK), and Chevron Corporation (NYSE:CVX).
According to a report by Hartford Funds, companies that consistently raised their dividends have experienced the highest returns compared with other stocks in the past 48 years. The report mentioned that dividend growers and initiators delivered an annual average return of 10.68% from 1973 to 2021, versus a 4.79% return for non-dividend payers. During this period, the equal-weighted S&P 500 index produced an annual average return of 8.20%. Over the years, corporate earnings have grown tremendously, resulting in strong free cash flow generation. The same report by Hartford Funds highlighted that cash on corporate balance sheets has more than tripled since the early 2000s, which has resulted in the growth of dividends over this period.
A Bloomberg survey, conducted between November 29 to December 7, highlighted the various fund managers’ inclination toward dividend stocks this year. The survey mentioned that dividend stocks with low volatility were the top picks of investors because of slow economic growth. Moreover, the NASDAQ US Dividend Achievers Select Index, which tracks the performance of companies that have raised their payouts for the last 10 or more consecutive years, gained 7.97% in the last six months.
Photo by Nicholas Cappello on Unsplash
Our Methodology:
For this list, we selected high-yielding dividend stocks that belong to the group of Dividend Achievers and have raised their payouts for 10 years or more. The stocks are ranked according to their dividend yields, as of December 19.
Dividend Achievers List Ranked By Yield: Top 25
25. HP Inc. (NYSE:HPQ)
Dividend Yield as of December 19: 3.93%
HP Inc. (NYSE:HPQ) is a California-based computer hardware company that deals in tech-related products and provides related services to its consumers. On November 22, the company announced a 5% hike in its quarterly dividend to $0.2625 per share. This was the company’s 11th consecutive year of dividend growth. As of December 19, the stock has a dividend yield of 3.93%.
In addition to some of the best dividend stocks like Exxon Mobil Corporation (NYSE:XOM), Merck & Co., Inc. (NYSE:MRK), and Chevron Corporation (NYSE:CVX), investors are also considering HPQ this year because of the company’s consistent dividend growth.
In fiscal Q4 2022, HP Inc. (NYSE:HPQ) generated $1.9 billion in operating cash flow and $1.8 billion in free cash flow. The company returned over $1 billion to shareholders in dividends and share repurchases during the quarter, which shows that its cash generation was sufficient for shareholder obligation.
In November, Citigroup maintained a Neutral rating on HP Inc. (NYSE:HPQ) with a $31 price target, appreciating the company’s restructuring program.
At the end of Q3 2022, 42 hedge funds tracked by Insider Monkey reported owning stakes in HP Inc. (NYSE:HPQ), up from 35 in the previous quarter. The collective value of these stakes is nearly $3 billion. With over 104 million shares, Berkshire Hathaway was the company’s leading stakeholder in Q3.
24. Evergy, Inc. (NYSE:EVRG)
Dividend Yield as of December 19: 3.96%
Evergy, Inc. (NYSE:EVRG) is a Missouri-based electric services company. It currently pays a quarterly dividend of $0.6125 per share, having raised it by 7% in November. The company is one of the best dividend stocks on our list as it has raised its payouts for 18 years in a row. As of December 19, the stock has a dividend yield of 3.96%.
In Q3 2022, Evergy, Inc. (NYSE:EVRG) reported revenue of $1.91 billion, which saw an 18% growth from the same period last year. The company’s net income for the quarter came in at over $428 million.
As of the close of Q3 2022, 25 hedge funds in Insider Monkey’s database reported owning stakes in Evergy, Inc. (NYSE:EVRG), up from 22 in the previous quarter. These stakes are worth $283.8 million collectively.
23. Duke Energy Corporation (NYSE:DUK)
Dividend Yield as of December 19: 4.01%
Duke Energy Corporation (NYSE:DUK) is an American electric power and natural gas holding company that provides a wide range of energy services to its consumers. In December, Mizuho raised its price target on the stock to $102 with a Neutral rating on the shares, highlighting the company’s updated earnings guidance and commercial renewable segment.
In the third quarter of 2022, Duke Energy Corporation (NYSE:DUK) reported revenue of nearly $8 billion, up 14.7% from the same period last year. The company posted an EPS of $1.78, which missed estimates by $0.07.
Duke Energy Corporation (NYSE:DUK), one of the best dividend stocks, has paid regular dividends to shareholders for 96 years in a row. Moreover, the company also maintains a 16-year streak of consistent dividend growth. It currently pays a quarterly dividend of $1.005 per share and has a dividend yield of 4.01%, as of December 19.
At the end of September, 33 hedge funds in Insider Monkey’s database owned stakes in Duke Energy Corporation (NYSE:DUK), up from 30 a quarter earlier. The collective value of these stakes is over $400.2 million. Renaissance Technologies was one of the company’s leading stakeholders in Q3.
22. Kaiser Aluminum Corporation (NASDAQ:KALU)
Dividend Yield as of December 19: 4.01%
Kaiser Aluminum Corporation (NASDAQ:KALU) is one of America’s major producers of aluminum. In the first nine months of 2022, the company reported a strong cash position. It had over $129 million available in cash and cash equivalents during this period. Moreover, it paid over $38 million to shareholders in quarterly dividends, which places it as one of the best dividend stocks on our list.
On October 13, Kaiser Aluminum Corporation (NASDAQ:KALU) declared a quarterly dividend of $0.77 per share, which fell in line with its previous dividend. The company has been raising its dividends consistently for the past 11 years. The stock’s dividend yield on December 19 came in at 4.01%.
In December, Wolfe Research initiated its coverage of Kaiser Aluminum Corporation (NASDAQ:KALU) with a Peer Perform rating, highlighting the company’s solid track record.
As per Insider Monkey’s Q3 2022 database, Kaiser Aluminum Corporation (NASDAQ:KALU) was a part of 9 hedge fund portfolios, the same as in the previous quarter. The stakes owned by these hedge funds have a total value of over $28.6 million. Ken Fisher and Jim Simons were some of the company’s major shareholders in Q3.
21. Extra Space Storage Inc. (NYSE:EXR)
Dividend Yield as of December 19: 4.02%
Extra Space Storage Inc. (NYSE:EXR) is a Utah-based real estate investment trust company that mainly invests in self-storage facilities across the US. In December, Truist maintained a Buy rating on the stock with a $175 price target, highlighting the company’s recent quarterly earnings and adjusted revenue growth.
Extra Space Storage Inc. (NYSE:EXR) currently pays a quarterly dividend of $1.50 per share and has a dividend yield of 4.02%, as of December 19. The company is one of the best dividend stocks on our list as it has raised its dividends consistently for the past 12 years.
As of the close of Q3 2022, 27 hedge funds tracked by Insider Monkey reported owning stakes in Extra Space Storage Inc. (NYSE:EXR), the same as in the previous quarter. The collective value of these stakes is roughly $148 million.
Baron Funds mentioned Extra Space Storage Inc. (NYSE:EXR) in its Q2 2022 investor letter. Here is what the firm has to say:
“Following a sharp correction in its share price during the second quarter, we acquired shares in Extra Space Storage Inc. This REIT has assembled the second-largest self-storage portfolio in the country and has the largest portfolio of third-party managed self-storage facilities. In our opinion, Extra Space’s management team is excellent. Over the last decade, management has delivered strong occupancy gains, rent growth, and expense control that has led to a cost of capital advantage relative to its peers. Management has capitalized on its cost of capital advantage by tripling its owned self-storage count since 2010. We believe the long-term growth opportunity for the company remains strong.”
20. First American Financial Corporation (NYSE:FAF)
Dividend Yield as of December 19: 4.04%
First American Financial Corporation (NYSE:FAF) is a California-based financial services company that provides services related to insurance and settlement to mortgage and real estate industries. In Q3 2022, the company reported revenue of $1.8 billion and its operating cash flow for the quarter came in at $302 million. At the end of September, it had $2.3 billion in cash and cash equivalents, compared with $1.2 billion nine months ago.
On November 16, First American Financial Corporation (NYSE:FAF) declared a quarterly dividend of $0.52 per share, which fell in line with its previous dividend. The company holds an 11-year streak of consistent dividend growth, which places it as one of the best dividend stocks on our list. The stock has a dividend yield of 4.04%, as of December 19.
In October, Truist maintained a Buy rating on First American Financial Corporation (NYSE:FAF) with a $67 price target, mentioning the company’s higher investment income.
At the end of Q3 2022, 32 hedge funds tracked by Insider Monkey reported owning stakes in First American Financial Corporation (NYSE:FAF), up from 30 in the previous quarter. The collective value of these stakes is nearly $933.6 million.
19. ALLETE, Inc. (NYSE:ALE)
Dividend Yield as of December 19: 4.08%
ALLETE, Inc. (NYSE:ALE) is a Minnesota-based clean energy transformation company that specializes in wind energy generation. In December, Wells Fargo raised its price target on the stock to $67 with an Equal Weight rating on the shares.
ALLETE, Inc. (NYSE:ALE) currently pays a quarterly dividend of $0.65 per share, with a dividend yield of 4.08%, as of December 19. The company is one of the best dividend stocks on our list as it has been making uninterrupted dividend payments to shareholders since 1950. In 2022, the company extended its dividend growth streak to 12 years.
In the third quarter of 2022, ALLETE, Inc. (NYSE:ALE) reported revenue of $388.3 million, which showed a 12.4% growth from the same period last year. At the end of September, the company had over $42 million in cash and cash equivalents and its total assets amounted to over $6.8 billion.
At the end of Q3 2022, 19 hedge funds tracked by Insider Monkey owned stakes in ALLETE, Inc. (NYSE:ALE), worth roughly $60 million collectively. Among these hedge funds, Point72 Asset Management was the company’s leading stakeholder in Q3.
18. Essex Property Trust, Inc. (NYSE:ESS)
Dividend Yield as of December 19: 4.15%
Essex Property Trust, Inc. (NYSE:ESS) is a California-based real estate investment trust company that mainly invests in apartment buildings. The company showed strong performance in the third quarter of 2022, with revenue of $406.8 million, which saw a 12.8% growth from the same period last year. It also had over $1.1 billion in liquidity, as of October.
Essex Property Trust, Inc. (NYSE:ESS) currently pays a quarterly dividend of $2.20 per share and has a dividend yield of 4.15%, as of December 19. The company is one of the best dividend stocks on our list as the company has raised its payouts consistently for the past 28 years.
At the end of September 2022, 24 hedge funds tracked by Insider Monkey reported owning stakes in Essex Property Trust, Inc. (NYSE:ESS), worth $210.7 million collectively. Among these hedge funds, AEW Capital Management was the company’s leading stakeholder in Q3.
17. Avista Corporation (NYSE:AVA)
Dividend Yield as of December 19: 4.17%
Avista Corporation (NYSE:AVA) is an American energy company that generates and transmits electricity and distributes natural gas to its consumers. The company is based in Washington. In December, Mizuho raised its price target on the stock to $44, with a Neutral rating on the shares. The firm presented a positive stance on the utility sector.
In the third quarter of 2022, Avista Corporation (NYSE:AVA) reported revenue of $350 million, which saw a 22% growth from the same period last year. As of September, the company had $102 million available in liquidity. Moreover, it reported an operating cash flow of $4.4 million in Q3.
Avista Corporation (NYSE:AVA), one of the best dividend stocks on our list, maintains a 20-year streak of consistent dividend growth. The company currently pays a quarterly dividend of $0.44 per share and has a dividend yield of 4.17%, as of December 19.
As of the close of Q3 2022, 18 hedge funds in Insider Monkey’s database owned stakes in Avista Corporation (NYSE:AVA), the same as in the previous quarter. The collective value of these stakes is over $65.4 million.
16. Fifth Third Bancorp (NASDAQ:FITB)
Dividend Yield as of December 19: 4.18%
Fifth Third Bancorp (NASDAQ:FITB) is an Ohio-based bank holding company that provides related financial services to its consumers. The company currently pays a quarterly dividend of $0.33 per share and has a dividend yield of 4.18%, as of December 19. It has been raising its dividends consistently for the past 11 years, falling into the category of Dividend Achievers.
In December, Morgan Stanley initiated its coverage of Fifth Third Bancorp (NASDAQ:FITB) with an Equal Weight rating and a $37 price target. The firm mentioned that the company is well-positioned to manage the headwinds from tightening monetary policies.
As of the close of Q3 2022, 35 hedge funds in Insider Monkey’s database owned stakes in Fifth Third Bancorp (NASDAQ:FITB), up from 32 in the previous quarter. These stakes have a total value of over $393.5 million. With over 3.3 million shares, Citadel Investment Group was the company’s leading stakeholder in Q3.
15. OGE Energy Corp. (NYSE:OGE)
Dividend Yield as of December 19: 4.19%
OGE Energy Corp. (NYSE:OGE) is an American public utility company, based in Oklahoma. In Q3 2022, the company posted revenue of $1.27 billion in Q3 2022, which showed a 46.9% growth from the same period last year. It also reported a 1.2% customer growth from the prior-year period. The company’s net income for the quarter came in at $253 million, compared with $223.8 million in Q3 2021.
On December 9, OGE Energy Corp. (NYSE:OGE) announced a quarterly dividend of $.4141 per share, in line with its previous dividend. In 2022, the company extended its dividend growth years to 15, which makes it one of the best dividend stocks. The stock’s dividend yield on December 19 came in at 4.19%.
At the end of Q3 2022, 16 hedge funds tracked by Insider Monkey owned stakes in OGE Energy Corp. (NYSE:OGE), up from 13 in the previous quarter. The collective value of these stakes is over $218.7 million. With over 2 million shares, Zimmer Partners was the company’s leading stakeholder in Q3.
14. NorthWestern Corporation (NASDAQ:NWE)
Dividend Yield as of December 19: 4.44%
NorthWestern Corporation (NASDAQ:NWE) is an American utility company that serves nearly a million customers in South Dakota. The company reported a strong cash position this year with approximately $74 million in total net liquidity, including $9 million in cash. In Q3 2022, the company’s revenue came in at over $335 million, which showed a 2.8% growth from the same period last year.
On December 13, NorthWestern Corporation (NASDAQ:NWE) declared a quarterly dividend of $0.63 per share, which fell in line with its previous dividend. The company has been raising its dividends consistently for the past 17 years. As of December 19, the stock has a dividend yield of 4.44%.
In December, Mizuho raised its price target on NorthWestern Corporation (NASDAQ:NWE) to $57 with a Neutral rating on the shares.
NorthWestern Corporation (NASDAQ:NWE) was a popular stock among elite funds in Q3 2022, as 22 hedge funds in Insider Monkey’s database owned stakes in the company, up from 16 in the previous quarter. These stakes have a total value of over $172.2 million.
13. Edison International (NYSE:EIX)
Dividend Yield as of December 19: 4.53%
Edison International (NYSE:EIX) is a California-based public utility holding company that provides clean and reliable energy and related services to its consumers. On December 8, the company declared a 5.4% hike in its quarterly dividend to $0.7375 per share. Through this increase, the company extended its dividend growth streak to 19 years. As of December 19, the stock’s dividend yield came in at 4.53%.
In December, Mizuho raised its price target on Edison International (NYSE:EIX) to $78 with an Overweight rating on the shares, presenting a neutral stance on the overall sector.
The number of hedge funds tracked by Insider Monkey owning stakes in Edison International (NYSE:EIX) grew to 29 in Q3 2022, from 26 in the previous quarter.
12. Huntington Bancshares Incorporated (NASDAQ:HBAN)
Dividend Yield as of December 19: 4.54%
Huntington Bancshares Incorporated (NASDAQ:HBAN) is an Ohio-based commercial banking company that provides services related to mortgages, loans, and credit cards. The company currently pays a quarterly dividend of $0.155 per share with a dividend yield of 4.54%, as of December 19. It is one of the best dividend stocks on our list as it has raised its payouts consistently for the past 11 years.
In December, Morgan Stanley upgraded to Overweight, with a $19 price target, up from $16. The firm presented a positive outlook on the sector.
As of the close of Q3 2022, 23 hedge funds tracked by Insider Monkey owned stakes in Huntington Bancshares Incorporated (NASDAQ:HBAN), the same as in the previous quarter. These stakes have a total value of over $168.3 million. Among these hedge funds, Citadel Investment Group was the company’s largest stakeholder in Q3.
Aristotle Capital Boston, LLC mentioned Huntington Bancshares Incorporated (NASDAQ:HBAN) in its Q3 2022 investor letter. Here is what the firm has to say:
“Huntington Bancshares Incorporated (NASDAQ:HBAN), an Ohio-based bank holding company, was removed from the portfolio based on our belief that shares were fully valued and there were better opportunities to deploy capital elsewhere within the portfolio.”
11. Premier Financial Corp. (NASDAQ:PFC)
Dividend Yield as of December 19: 4.59%
Premier Financial Corp. (NASDAQ:PFC) is an Ohio-based insurance company that also provides financial services to its consumers. In the third quarter of 2022, the company reported revenue of $80 million, which showed a 1% growth from the same period last year. At the end of September, its total assets amounted to $8.2 billion, up from $8 billion in June.
Premier Financial Corp. (NASDAQ:PFC) currently pays a quarterly dividend of $0.30 per share with a dividend yield of 4.59%, as of December 19. The company has raised its dividends consistently for the past 10 years. It can be added to dividend portfolios alongside some of the best dividend stocks like Exxon Mobil Corporation (NYSE:XOM), Merck & Co., Inc. (NYSE:MRK), and Chevron Corporation (NYSE:CVX).
At the end of Q3 2022, 12 hedge funds tracked by Insider Monkey owned stakes in Premier Financial Corp. (NASDAQ:PFC), the same as in the previous quarter. These stakes have a consolidated value of over $37 million.
Click to continue reading and see Dividend Achievers List Ranked By Yield: Top 10.
Suggested articles:
16 Large-Cap Stocks with Insider Buying
Disclosure. None. Dividend Achievers List Ranked By Yield: Top 25 is originally published on Insider Monkey.
