Top 20 Dividend Stocks of 2024

1. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 105

JPMorgan Chase & Co. (NYSE:JPM) is a New York-based multinational investment banking company. The company’s diverse revenue streams make it an attractive investment option. With operations spanning consumer and commercial banking, capital markets, and asset management, its diversification enables strength in one sector to offset weaknesses in others, enhancing overall stability. In the past 12 months, the stock has delivered an over 39% return to shareholders.

In the third quarter of 2024, JPMorgan Chase & Co. (NYSE:JPM) reported revenue of $42.7 billion, marking a 7% increase from the same period last year. The company showed strong financial and operational results, with a net income of $12.9 billion and a return on tangible common equity (ROTCE) of 19%. The Corporate & Investment Bank (CIB) division performed well, with a 31% rise in investment banking fees and an 8% increase in the Market’s revenue.

JPMorgan Chase & Co. (NYSE:JPM) also proved to be a generous dividend payer, distributing around $3.06 billion in dividends to shareholders during the quarter. The company currently pays a quarterly dividend of $1.25 per share, yielding 2.09% as of December 30.

At the end of Q3 2024, 105 hedge funds tracked by Insider Monkey held stakes in JPMorgan Chase & Co. (NYSE:JPM), compared with 111 in the previous quarter. The consolidated value of these stakes is more than $8.6 billion.

Overall, JPMorgan Chase & Co. (NYSE:JPM) ranks first on our list of the best dividend stocks of 2024. While we acknowledge the potential for JPM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than JPM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. 

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