Dividend Aristocrats: Top 7 Companies by Yield for November 2024

3. Amcor plc (NYSE:AMCR)

Dividend Yield as of November 26: 4.87%

Amcor plc (NYSE:AMCR) is a global multinational packaging company that offers a wide range of related products for different industries. The company has recently announced plans to acquire its US competitor, Berry Global, in an all-stock deal valued at $8.43 billion. The merger will create a major player in the consumer and healthcare packaging sector, with combined revenues of $24 billion. This move comes as the industry experiences consolidation following a sharp decline in demand for packaging materials, which had surged during the e-commerce boom of the pandemic. This acquisition marks Amcor’s largest to date. Previously, in 2019, the company acquired US rival Bemis for $5.25 billion in an all-stock deal, though it had to sell three manufacturing facilities to secure approval from the US Justice Department. AMCR surged by nearly 5% following the announcement.

In fiscal Q1 2025, Amcor plc (NYSE:AMCR) reported revenue of $3.35 billion, which fell slightly by 2.6% from the same period last year. Overall, the company began fiscal 2025 on a strong note, driven by improving volume growth and customer demand trends. Adjusted EPS increased by 5%, with both the Flexibles and Rigid Packaging segments contributing to this performance. The growth was supported by sequential volume gains and a consistent emphasis on cost management and maintaining margin quality.

On November 1, Amcor plc (NYSE:AMCR) declared a 2% hike in its quarterly dividend to $0.1275 per share. Through this increase, the company stretched its dividend growth streak to 41 years. The stock has a dividend yield of 4.87%, as of November 26, which makes AMCR one of the best dividend aristocrat stocks on our list.

Insider Monkey’s database of Q3 2024 indicated that 18 hedge funds owned stakes in Amcor plc (NYSE:AMCR), down from 21 in the previous quarter. These stakes are valued at $183.5 million. Among these hedge funds, Cliff Asness’ AQR Capital Management was the company’s leading stakeholder in Q3.