Dividend Aristocrats Ranked By Yield: Top 25

Published on September 29, 2023 at 2:13 am by Vardah Gill in Dividend Stocks, Hedge Funds, News

In this article, we discuss top 25 dividend aristocrats ranked by yield. You can skip our detailed analysis of dividend stocks and their performance over the years, and go directly to read Dividend Aristocrats Ranked By Yield: Top 10.

At the start of the year, there was a lot of excitement surrounding tech stocks. However, as investor sentiment shifted, other types of investments gained attention. The tech-heavy NASDAQ fell by 5.32% in the past month, bringing its year-to-date returns to 27.09%, as of September 28. During uncertain times, investors prefer dependable stocks to earn a steady income and maintain their financial stability.

Dividend stocks are often considered relatively stable investments compared to some other types of stocks, particularly those that do not pay dividends. When investing in dividend stocks, investors turn their attention to companies that regularly grow their dividends. Steady and consistent dividend increases indicate that a company is financially strong. This can also assist investors in creating a portfolio that consistently generates high dividend income over time. In our article titled 14 Best Dividend Kings Stocks to Buy Now, we referred to Hartford Funds data and mentioned that companies that either raised or started paying dividends since 1973 have achieved the best returns compared to other stocks. These returns were achieved with less price fluctuations. During this time, dividend growers and initiators provided a 10.24% return, while companies that reduced dividends returned 3.95% to shareholders.

Dividend stocks can provide income even when the broader stock market is experiencing declines, which can help investors ride out challenging market conditions. In addition to this, these equities, especially those from established companies, tend to have lower volatility compared to growth stocks, which can experience more significant price swings. According to a report by Wisdom Tree, during the 1970s, a period known for both high inflation and sluggish economic growth, dividends accounted for 70% of the overall returns investors earned. The report also mentioned that the 2000s were the only decade in which total returns were negative. Dividend returns of nearly 2% helped offset the negative price returns caused by events like the bursting of the dot-com bubble and the Global Financial Crisis, providing a cushion for investors.

Also Read: 15 Best Dividend Aristocrat Stocks To Buy Now

While dividend aristocrats, which are companies that have increased their dividends for 25 consecutive years or more, have not performed as well as the overall market this year, analysts are optimistic about the potential for these stocks to perform better in the remaining part of the year. The Procter & Gamble Company (NYSE:PG), Colgate-Palmolive Company (NYSE:CL), and PepsiCo, Inc. (NASDAQ:PEP) are some of the best dividend aristocrat stocks to consider because of their financial stability, which has translated into their decades-long dividend growth streaks. In this list, we will further elaborate on the highest-yielding dividend aristocrats.

Photo by Annie Spratt on Unsplash

Our Methodology:

For this list, we looked at a group of 68 dividend aristocrat companies, which are known for raising dividends for 25 years or more. From this list, we chose companies with the highest dividend yields as of September 28 and arranged them in order from lowest to highest yield.

25. Air Products and Chemicals, Inc. (NYSE:APD)

Dividend Yield as of September 28: 2.4%

Air Products and Chemicals, Inc. (NYSE:APD) is a global industrial gases and chemicals company. It specializes in providing atmospheric gases, process and specialty gases, performance materials, equipment, and technology solutions to a wide range of industries. The company currently pays a quarterly dividend of $1.75 per share and has a dividend yield of 2.4%, as of September 28. It is one of the best dividend aristocrat stocks on our list as the company has been raising its dividends consistently for the past 41 years.

At the end of Q2 2023, 43 hedge funds in Insider Monkey’s database reported having stakes in Air Products and Chemicals, Inc. (NYSE:APD), down from 48 in the previous quarter. The overall value of these stakes is over $657.5 million.

24. General Dynamics Corporation (NYSE:GD)

Dividend Yield as of September 28: 2.41%

General Dynamics Corporation (NYSE:GD) is an American global aerospace and defense company with a diverse portfolio of products and services. On August 1, the company declared a quarterly dividend of $1.32 per share, which was in line with its previous dividend. The company maintains a 26-year streak of consistent dividend growth, making it one of the best dividend aristocrat stocks on our list. The stock’s dividend yield on September 28 came in at 2.41%.

As of the close of Q2 2023, 46 hedge funds in Insider Monkey’s database reported having stakes in General Dynamics Corporation (NYSE:GD), up from 43 in the previous quarter. The overall value of these stakes is over $7 billion.

23. NextEra Energy, Inc. (NYSE:NEE)

Dividend Yield as of September 28: 2.77%

NextEra Energy, Inc. (NYSE:NEE) is a leading utility company and a major player in the energy sector, with a focus on clean and renewable energy. The company has been raising its dividends consistently for the past 27 years and pays a quarterly dividend of $0.4675 per share. As of September 28, the stock has a dividend yield of 2.77%.

Insider Monkey’s database of Q2 2023 showed that 23 hedge funds owned stakes in NextEra Energy, Inc. (NYSE:NEE), compared with 24 in the previous quarter. The collective value of these stakes is over $285 million. Among these hedge funds, Citadel Investment Group was the company’s leading stakeholder in Q2.

22. PepsiCo, Inc. (NASDAQ:PEP)

Dividend Yield as of September 28: 2.9%

An American multinational beverage and snack company, PepsiCo, Inc. (NASDAQ:PEP) is next on our list of the best dividend aristocrat stocks to buy now. The company’s dividend growth streak currently stands at 51 years. It pays a quarterly dividend of $1.265 per share and has a dividend yield of 2.9%, as recorded on September 28.

PepsiCo, Inc. (NASDAQ:PEP) was a part of 68 hedge fund portfolios at the end of Q2 2023, as per Insider Monkey’s database. The stakes owned by these hedge funds have a total value of over $3.5 billion.

21. Sysco Corporation (NYSE:SYY)

Dividend Yield as of September 28: 2.91%

Sysco Corporation (NYSE:SYY) is a multinational foodservice distribution company that primarily operates as a distributor of food and related products to various businesses in the food service industry. The company has a 54-year run of growing its dividends consistently, which makes it one of the best dividend aristocrat stocks on our list. The stock’s dividend yield on September 28 came in at 2.91%.

The number of hedge funds tracked by Insider Monkey owning stakes in Sysco Corporation (NYSE:SYY) grew to 39 in Q2 2023, from 34 in the previous quarter. The consolidated value of these stakes is over $703 million.

20. Johnson & Johnson (NYSE:JNJ)

Dividend Yield as of September 28: 2.97%

With 61 consecutive years of dividend growth, Johnson & Johnson (NYSE:JNJ) is next on our list of the best dividend aristocrat stocks. The American pharmaceutical company pays a per-share dividend of $1.19 every quarter for a dividend yield of 2.97%, as of September 28.

Of the 910 hedge funds tracked by Insider Monkey, 88 funds owned stakes in Johnson & Johnson (NYSE:JNJ) at the end of Q2 2023, compared with 86 in the previous quarter. The collective value of these stakes is more than $4.1 billion.

19. Exxon Mobil Corporation (NYSE:XOM)

Dividend Yield as of September 28: 3.13%

Exxon Mobil Corporation (NYSE:XOM) is one of the world’s largest multinational oil and gas corporations. The company is also engaged in research and development efforts related to renewable and lower-carbon energy technologies. It is one of the best dividend aristocrat stocks on our list because the company has been rewarding shareholders with growing dividends for 40 consecutive years. The company offers a quarterly dividend of $0.91 per share and its dividend yield on September 28 came in at 3.13%.

71 hedge funds in Insider Monkey’s database owned stakes in Exxon Mobil Corporation (NYSE:XOM) at the end of Q2 2023, compared with 73 in the previous quarter. The collective value of stakes owned by these funds is over $3.08 billion.

18. The Coca-Cola Company (NYSE:KO)

Dividend Yield as of September 28: 3.23%

The Coca-Cola Company (NYSE:KO), an American beverage company, holds a 61-year streak of consistent dividend growth. In the first six months of FY23, the company generated $4.6 billion in operating cash flow and its free cash flow for the period came in at $4 billion. This shows that the company’s cash generation is strong enough to fulfill its shareholder obligation in the future. The company pays a quarterly dividend of $0.46 per share and has a dividend yield of 3.23%, as of September 28.

Warren Buffett’s Berkshire Hathaway was the largest stakeholder of The Coca-Cola Company (NYSE:KO) at the end of Q2 2023. Overall, 61 hedge funds tracked by Insider Monkey reported having stakes in the company in Q2, worth collectively over $27.2 billion.

17. Medtronic plc (NYSE:MDT)

Dividend Yield as of September 28: 3.45%

Next up on our list of the best dividend aristocrat stocks is Medtronic plc (NYSE:MDT). The medical technology company mainly specializes in medical devices and offers other healthcare solutions. It currently pays a quarterly dividend of $0.69 per share and has a dividend yield of 3.45%, as recorded on September 28. The company has been growing its dividends consistently for the past 46 years.

The number of hedge funds tracked by Insider Monkey owning stakes in Medtronic plc (NYSE:MDT) grew to 63 in Q2 2023, from 52 in the previous quarter. The consolidated value of these investments is over $1.86 billion.

16. Chevron Corporation (NYSE:CVX)

Dividend Yield as of September 28: 3.58%

Chevron Corporation (NYSE:CVX) is an American integrated energy company with operations spanning the entire energy value chain. The company’s 36-year-long dividend growth streak makes it one of the best dividend aristocrat stocks on our list. In addition to this, the company also returned $2.8 billion to shareholders through dividends in its most recent quarter. The company pays a quarterly dividend of $0.40 per share and has a dividend yield of 3.58%, as recorded on September 28.

As of the end of the June quarter of 2023, 73 hedge funds in Insider Monkey’s database owned investments in Chevron Corporation (NYSE:CVX), growing from 64 a quarter earlier. The collective value of these stakes is more than $21.4 billion.

15. Kimberly-Clark Corporation (NYSE:KMB)

Dividend Yield as of September 28: 3.82%

Kimberly-Clark Corporation (NYSE:KMB) is a global consumer goods company that specializes in the production and marketing of a variety of personal care and hygiene products, as well as professional products. The company offers a quarterly dividend of $1.18 per share and has been growing its dividends for 51 years straight. The stock has a dividend yield of 3.82%, as of September 28.

At the end of June 2023, 38 hedge funds tracked by Insider Monkey reported having stakes in Kimberly-Clark Corporation (NYSE:KMB), compared with 40 in the previous quarter. The consolidated value of these stakes is over $817.5 million. With over 1.4 million shares, Two Sigma Advisors was the company’s largest stakeholder in Q2.

14. AbbVie Inc. (NYSE:ABBV)

Dividend Yield as of September 28: 3.83%

AbbVie Inc. (NYSE:ABBV) is an American pharmaceutical company that focuses on the development, manufacturing, and commercialization of a wide range of pharmaceutical products. With a dividend yield of 3.83%, as of September 28, it is one of the best dividend aristocrat stocks on our list. The company maintains a 50-year streak of dividend growth and currently pays a quarterly dividend of $1.48 per share.

As of the end of Q2 2023, 74 hedge funds tracked by Insider Monkey reported having stakes in AbbVie Inc. (NYSE:ABBV), compared with 75 in the previous quarter. The total value of these stakes is over $2.37 billion.

13. Stanley Black & Decker, Inc. (NYSE:SWK)

Dividend Yield as of September 28: 3.87%

Stanley Black & Decker, Inc. (NYSE:SWK) is a diversified global industrial company known for its wide range of tools, hardware, and security solutions. The company has continuously increased its dividends for 56 years, giving its shareholders a consistent reward. In addition to this, it has been paying regular dividends to shareholders for 146 years. The company offers a quarterly dividend of $0.81 per share and has a dividend yield of 3.87%, as of September 28.

At the end of the second quarter of 2023, 19 hedge funds tracked by Insider Monkey owned investments in Stanley Black & Decker, Inc. (NYSE:SWK), with a consolidated value of over $196.7 million.

12. Target Corporation (NYSE:TGT)

Dividend Yield as of September 28: 3.92%

Target Corporation (NYSE:TGT) is an American retail corporation that operates a chain of discount stores and offers a wide range of consumer goods and products. On September 20, the company declared a quarterly dividend of $1.10 per share, which fell in line with its previous dividend. The company has been raising its dividends for 52 years running, which makes it one of the best dividend aristocrat stocks on our list. The stock’s dividend yield on September 28 came in at 3.92%.

Of the 910 hedge funds in Insider Monkey’s database as of Q2 2023, 45 hedge funds owned stakes in Target Corporation (NYSE:TGT), compared with 46 in the previous quarter. The collective value of these stakes is over $882.8 million.

Diamond Hill Capital mentioned Target Corporation (NYSE:TGT) in its Q2 2023 investor letter. Here is what the firm has to say:

“We also purchased an ownership stake in Target Corporation (NYSE:TGT) , the US-based mass retailer. The company has experienced strong traffic growth over the past several years but was disproportionally impacted by poor internal inventory forecasting in 2022, which caused near-term profitability to be negatively impacted. As near-term headwinds subside, we believe Target can restore its margin profile on a sales base that has seen a significant increase since the beginning of the pandemic. The recent stock price sell-off related to near-term controversy concerns allowed us to initiate a position at an attractive discount to our estimate of intrinsic value. Looking past the next couple of quarters, we believe Target is well positioned to gain share longer-term due to its merchandising acumen, real estate locations and omnichannel capabilities.”

11. Essex Property Trust, Inc. (NYSE:ESS)

Dividend Yield as of September 28: 4.27%

Essex Property Trust, Inc. (NYSE:ESS) is a California-based real estate investment trust company. In 2023, the company stretched its dividend growth streak to 28 years, which makes it one of the best dividend aristocrat stocks on our list. It currently offers a quarterly dividend of $2.31 per share and has a dividend yield of 4.27%, as of September 28.

Insider Monkey’s database of Q2 2023 indicated that 20 hedge funds owned stakes in Essex Property Trust, Inc. (NYSE:ESS), compared with 26 in the preceding quarter. The consolidated value of these stakes is over $86.2 million. Among these hedge funds, AEW Capital Management was the largest stakeholder of the company in Q2.

Click to continue reading and see Dividend Aristocrats Ranked By Yield: Top 10.

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Published on November 16, 2024 at by Insider Monkey Staff

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