Dividend Champions List Ranked By Yield: Top 10

In this article, we discuss top 10 high-yielding dividend champions. If you want to read our detailed analysis of dividend investing and returns of dividend stocks in the past, go directly to read Dividend Champions List Ranked By Yield: Top 25. 

10. International Business Machines Corporation (NYSE:IBM)

Dividend Yield as of December 20: 4.75%

International Business Machines Corporation (NYSE:IBM) is an American technology company that specializes in a wide range of tech-related services. The company’s cash position remained stable this year. It reported an operating cash flow of $6.5 billion in the first nine months of the year and its free cash flow came in at $4.1 billion. The company is one of the best dividend stocks on our list as it returned $1.5 billion to shareholders in dividends during Q3 2022.

International Business Machines Corporation (NYSE:IBM) has been making regular dividend payments to shareholders since 1916. The company also maintains a 27-year streak of consistent dividend growth. It currently pays a quarterly dividend of $1.65 per share for a dividend yield of 4.75%, as of December 20.

As of the close of Q3 2022, 40 hedge funds in Insider Monkey’s database owned stakes in International Business Machines Corporation (NYSE:IBM), the same as in the previous quarter. The collective value of these stakes is over $868.7 million. With over 4.3 million shares, Arrowstreet Capital was the company’s leading stakeholder in Q3.

9. National Retail Properties, Inc. (NYSE:NNN)

Dividend Yield as of December 20: 4.87%

National Retail Properties, Inc. (NYSE:NNN) is a Florida-based real estate investment trust that mainly invests in high-quality properties that are subject to long-term leases. The company currently pays a quarterly dividend of $0.55 per share for a dividend yield of 4.87%, as of December 20. The company has been raising its dividends consistently for the past 33 years, which places it as one of the best dividend stocks on our list.

In the third quarter of 2022, National Retail Properties, Inc. (NYSE:NNN) reported revenue of $193.4 million, which showed a 7.3% growth from the same period last year. At the end of September, the company had over $3.2 million available in cash and cash equivalents and its total assets amounted to roughly $8 billion.

In November, B. Riley maintained a Buy rating on National Retail Properties, Inc. (NYSE:NNN) with a $49 price target, presenting a neutral stance on the real estate sector.

As of the close of Q3 2022, 22 hedge funds tracked by Insider Monkey owned stakes in National Retail Properties, Inc. (NYSE:NNN), up from 18 in the previous quarter. The collective value of these stakes is over $186.7 million.

8. Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Dividend Yield as of December 20: 4.88%

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) is an American multinational company that owns retail pharmacy chains and other manufacturing companies. In December, Mizuho raised its price target on the stock to $41 with a Neutral rating on the shares. The firm mentioned that drug distributors’ earnings are expected to remain stable and presented an improved outlook for the sector.

In fiscal Q4 2022, Walgreens Boots Alliance, Inc. (NASDAQ:WBA) remained committed to its shareholder obligation as it returned $1.6 billion in dividends. The company reported an operating cash flow of $85 million in Q3.

Walgreens Boots Alliance, Inc. (NASDAQ:WBA), one of the best dividend stocks, has raised its dividends for 47 years in a row. It currently pays a quarterly dividend of $0.48 per share and has a dividend yield of 4.88%, as of December 20.

As of the end of the September quarter, 39 hedge funds tracked by Insider Monkey owned stakes in Walgreens Boots Alliance, Inc. (NASDAQ:WBA), compared with 40 in the previous quarter. These stakes are collectively worth over $712.6 million.

7. 3M Company (NYSE:MMM)

Dividend Yield as of December 20: 4.88%

3M Company (NYSE:MMM) is an American multinational conglomerate that operates in the fields of industry, healthcare, and consumer goods. In December, Citigroup lifted its price target on the stock to $126 with a Neutral rating on the shares. The firm mentioned that the supply chain situation will improve the industry’s profitability heading into next year.

In the third quarter of 2022, 3M Company (NYSE:MMM) reported an operating cash flow of $1.5 billion and its free cash flow for the quarter came in at $1.4 billion. Its cash generation was stable as it returned $1 billion to shareholders in dividends and share repurchases during the quarter. The company’s consistent dividend growth and strong cash position make it one of the best dividend stocks on our list.

3M Company (NYSE:MMM) currently offers a per-share dividend of $1.64 every quarter. The company holds a 64-year track record of consistent dividend growth, which makes it one of the best dividend stocks on our list. As of December 20, the stock has a dividend yield of 4.88%.

At the end of Q3 2022, 49 hedge funds tracked by Insider Monkey reported owning stakes in 3M Company (NYSE:MMM), down from 54 in the previous quarter. The consolidated value of these stakes is over $1.45 billion.

Mayar Capital mentioned 3M Company (NYSE:MMM) in its Q2 2022 investor letter. Here is what the firm has to say:

“We also bought back into 3M (NYSE:MMM) as the stock reached attractive levels. We’d sold our shares in 3M last year when the price exceeded our estimated fair value, and as better opportunities to invest in presented themselves at the time. Nonetheless, we’ve always liked this business with its diversified revenues, its R&D leadership and its stable margins.

6. Leggett & Platt, Incorporated (NYSE:LEG)

Dividend Yield as of December 20: 5.55%

Leggett & Platt, Incorporated (NYSE:LEG) is a Missouri-based manufacturing company that specializes in products found in homes. On November 18, the company announced a quarterly dividend of $0.44 per share, which fell in line with its previous dividend. The company holds a 51-year streak of consistent dividend growth, which makes it one of the best dividend stocks on our list. The stock’s dividend yield on December 10 came in at 5.55%.

In the third quarter of 2022, Leggett & Platt, Incorporated (NYSE:LEG) reported revenue of $1.3 billion, which fell by 2.3% from the same period last year. The company’s operating cash flow for the quarter came in at $65 million, presenting an increase of $15 million from the prior-year quarter. For FY22, it expects to pay $230 million to shareholders in dividends.

As of the close of Q3 2022, 14 hedge funds tracked by Insider Monkey held investments in Leggett & Platt, Incorporated (NYSE:LEG), up from 12 in the previous quarter. The stakes owned by these funds have a total value of nearly $33 million. Among these hedge funds, Millennium Management was the company’s leading stakeholder in Q3.

5. Universal Health Realty Income Trust (NYSE:UHT)

Dividend Yield as of December 20: 6.02%

Universal Health Realty Income Trust (NYSE:UHT) is an American real estate investment trust that invests in healthcare facilities and other human-related centers. In Q3 2022, the company reported revenue of $22.1 million, which saw a 4.5% growth from the prior-year period. The company’s operating cash flow for the quarter came in at $699 million, up from $562 million during the same period last year.

On November 30, Universal Health Realty Income Trust (NYSE:UHT)  declared a 1% hike in its quarterly dividend. This marked the company’s 38th consecutive year of dividend growth, which makes it one of the best dividend stocks on our list. As of December 20, the stock has a dividend yield of 6.02%.

At the end of Q3 2022, 4 hedge funds tracked by Insider Monkey owned stakes in Universal Health Realty Income Trust (NYSE:UHT), down from 5 in the previous quarter. The collective value of these stakes is over $12.5 million.

4. Enbridge Inc. (NYSE:ENB)

Dividend Yield as of December 20: 6.99%

Enbridge Inc. (NYSE:ENB) is a Canadian multinational natural gas distribution company that owns and operates pipelines throughout Canada and the US. In December, Credit Suisse maintained a Neutral rating on the stock with a C$52 price target, appreciating the company’s performance and balance sheet.

In the third quarter of 2022, Enbridge Inc. (NYSE:ENB) reported a distributable cash flow of $2.5 billion, compared with $2.3 billion during the same period last year. The company’s revenue for the quarter came in at C$11.57 billion, which saw a 0.9% growth from the prior-year period.

Enbridge Inc. (NYSE:ENB) offers a quarterly dividend of C$0.8875 per share, having raised it by 3% in November. The company holds a strong history of dividend payments, offering dividends to shareholders for the past 67 years. Moreover, it maintains a 28-year streak of consistent dividend growth, which makes it one of the best dividend stocks on our list. As of December 20, the stock has a dividend yield of 6.99%.

Enbridge Inc. (NYSE:ENB) was a part of 24 hedge fund portfolios in Q3 2022, as per Insider Monkey’s data. The stakes owned by these hedge funds have a total value of over $2.28 billion. GQG Partners was the company’s leading stakeholder in Q3.

3. Telephone and Data Systems, Inc. (NYSE:TDS)

Dividend Yield as of December 20: 7.23%

Telephone and Data Systems, Inc. (NYSE:TDS) is a Chicago-based telecommunications company that mainly provides wireless products and related services. The company currently pays a quarterly dividend of $0.18 per share for a dividend yield of 7.23%, as of December 20. It is one of the best dividend stocks on our list as the company has raised its dividend for 47 years in a row.

In the third quarter of 2022, Telephone and Data Systems, Inc. (NYSE:TDS) reported revenue of $1.08 billion, which saw a 6.9% growth from the same period last year. The company’s operating cash flow for the quarter came in at $901 million, compared with $863 million in the prior-year period.

In November, JPMorgan upgraded Telephone and Data Systems, Inc. (NYSE:TDS) to Neutral with a $14 price target, following the company’s Q3 earnings and overall performance this year.

Telephone and Data Systems, Inc. (NYSE:TDS) was a part of 13 hedge fund public portfolios at the end of Q3 2022, as per Insider Monkey’s data. The stakes owned by these hedge funds have a total value of roughly $46.3 million.

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.”

1. Altria Group, Inc. (NYSE:MO)

Dividend Yield as of December 20: 8.11%

Altria Group, Inc. (NYSE:MO) is a Virginia-based company that manufactures and markets tobacco products, including cigarettes. On December 7, the company declared a quarterly dividend of $0.97 per share, which fell in line with its previous dividend. The company holds a 53-year streak of consistent dividend growth. The stock’s dividend yield on December 20 came in at 8.11%.

At the end of Q3 2022, 47 hedge funds tracked by Insider Monkey reported owning stakes in Altria Group, Inc. (NYSE:MO), down from 48 in the previous quarter. The consolidated value of these stakes is over $1.5 billion. Arrowstreet Capital was the company’s leading stakeholder in Q3.

You can also take a look at 10 Best BDC Stocks To Buy and 12 Monthly Dividend Stocks Under $10

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