Top 10 High Dividend Yielding Consumer Defensive Stocks To Buy

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

Altria Group, Inc. is a manufacturer and distributor of oral tobacco and smokeable products. It offers its products under different brand names. The company distributes its products to large retail organizations like chain stores and distributors. The stock’s dividend yield is currently above 7%, offering much higher returns than fixed income assets.

Altria’s latest quarterly earnings surpassed market expectations as the company registered a strong double beat. Revenue growth was recorded at 1.63% YoY while the EPS and gross margins also improved.

At the end of FY2024, the company had a stable financial position, ending with a $3.13 billion total cash balance, higher than the previous quarter. It also managed to improve its net debt position, further adding to the sustainability of its dividend.

Altria also announced a new share buyback program worth $1 billion in 2025, highlighting the company’s focus on shareholder returns. Management expects non-GAAP EPS to grow in a range between 2% to 5% going forward, a rate that should help it sustain an extraordinarily high yield. In case investors are curious, the current yield is still below the 5-year average yield of 7.9%!