Dividend Aristocrats Ranked By Yield: Top 10

4. Amcor plc (NYSE:AMCR)

Dividend Yield as of June 25: 5.02%

Amcor plc (NYSE:AMCR) is a global packaging company that specializes in a wide variety of related products for different industries. In its fiscal Q3 2024, the company reported net sales of over $3.4 billion, which showed a 7% decline from the same period last year. This decrease includes a 1% favorable impact from foreign exchange rate movements, offset by a 2% unfavorable impact due to lower raw material costs amounting to approximately $60 million being passed through. Its year-to-date net income of $710 million also fell by 12% YoY.

Amcor plc (NYSE:AMCR) managed to mitigate the decline in revenue and net income this year through strong free cash flow generation, which has been a source of satisfaction for income investors. In the first nine months of FY24, the company posted adjusted free cash flow of $115 million, up significantly from $14 million during the same period last year. This cash flow was in line with its expectations. The improvement in cash flow primarily reflects better performance in managing working capital. Management maintains its expectations that adjusted free cash flow will range between $850 million to $950 million for the fiscal year.

Amcor plc (NYSE:AMCR) currently offers a quarterly dividend of $0.125 per share. The company has raised its payouts for 40 consecutive years. The company remained committed to its shareholder return and distributed $570 million to investors through dividends and share repurchases year-to-date. With a dividend yield of 5.02% as of June 25, AMCR is one of the best dividend aristocrat stocks on our list.

As per Insider Monkey’s database of Q1 2024, 17 hedge funds owned stakes in Amcor plc (NYSE:AMCR), down from 21 in the preceding quarter. These stakes have a total value of over $65.6 million.