Dividend Champions List Ranked By Yield: Top 10

2. V.F. Corporation (NYSE:VFC)

Dividend Yield as of December 20: 7.83%

V.F. Corporation (NYSE:VFC) is an American multinational apparel and footwear company that manages its 13 brands. In December, Deutsche Bank maintained a Buy rating on the stock with a $36 price target, mentioning that the company’s risk/reward profile is favorable for the next year.

In fiscal Q2 2023, V.F. Corporation (NYSE:VFC) reported revenue of $3.08 billion, down 3.8% from the same period last year. At the end of September, the company had $552.8 million available in cash and cash equivalents. During the quarter, it returned $194 million to shareholders in dividends, which places it as one of the best dividend stocks on our list.

On December 8, V.F. Corporation (NYSE:VFC) declared a quarterly dividend of $0.51 per share, up 2% from the previous dividend. This marked the company’s 49th consecutive year of dividend growth, just one year away from becoming Dividend King. As of December 20, the stock has a dividend yield of 7.83%.

At the end of Q3 2022, 26 hedge funds in Insider Monkey’s database owned stakes in V.F. Corporation (NYSE:VFC), compared with 29 in the previous quarter. The collective value of these stakes is nearly $280 million.

Diamond Hill Capital mentioned V.F. Corporation (NYSE:VFC) in its Q3 2022 investor letter. Here is what the firm has to say:

“Our weakest performer in Q3 was apparel and footwear company V.F. Corporation (NYSE:VFC). Consumer spending concerns weighed on the market’s sentiment toward companies selling more discretionary goods. Additionally, management lowered guidance primarily due to weaker sales for its Vans brand, higher-than-expected industry discounting, and macroeconomic uncertainty. The remainder of the portfolio is performing well, as evidenced by solid refreshed long-term financial targets.”