Dividend Contenders List: Top 15

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1. Delek Logistics Partners, LP (NYSE:DKL)

Dividend Yield as of November 11: 11.33%

Delek Logistics Partners, LP (NYSE:DKL) is an American logistics and midstream company that primarily provides transportation and storage services for crude oil, refined products, and other liquid hydrocarbons. The company remains a top choice in the midstream sector, offering an attractive mix of yield and growth. With the recent completion of its strategic initiatives, it is now positioned as a leading full-service midstream provider in the highly productive Permian Basin.

Delek Logistics Partners, LP (NYSE:DKL) generates substantial and stable cash flow by offering logistics services to its parent company, Delek US Holdings, as well as third-party clients. Recently, it updated and extended its agreements with Delek US for up to seven years, enhancing its long-term visibility. In the third quarter of 2024, the company’s operating cash flow amounted to $25 million. Its distributable free cash flow came in at $62 million, growing from $61.4 million in the prior year period.

On October 30, Delek Logistics Partners, LP (NYSE:DKL) announced a 0.9% hike in its quarterly dividend at $1.10 per share. This marked the company’s 47th consecutive quarter of dividend growth. The stock has a dividend yield of 11.33% as of November 11, which makes it one of the best stocks on our dividend contenders list.

While we acknowledge the potential of Delek Logistics Partners, LP (NYSE:DKL) , our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than DKL but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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