Top 5 Dividend Aristocrats by Yield: April 2024

In this article, we discuss top 5 dividend aristocrats according to dividend yields. If you want to read our detailed analysis of dividend aristocrats and their previous performance, go directly to read Top 10 Dividend Aristocrats by Yield: April 2024. 

5. Franklin Resources, Inc. (NYSE:BEN)

Dividend Yield as of March 30: 4.42%

Franklin Resources, Inc. (NYSE:BEN) is a global investment management company that offers investment products and services to its consumers. On February 6, the company declared a quarterly dividend of $0.31 per share, which fell in line with its previous dividend. Overall, the company has raised its dividends for the past 48 consecutive years. The stock has a dividend yield of 4.42%, as of March 30, which makes BEN one of the best dividend aristocrat stocks on our list.

As of the end of Q4 2023, 26 hedge funds in Insider Monkey’s database held stakes in Franklin Resources, Inc. (NYSE:BEN), growing from 22 in the previous quarter. The total value of these stakes is more than $182.6 million.

4. Amcor plc (NYSE:AMCR)

Dividend Yield as of March 30: 5.26%

Amcor plc (NYSE:AMCR) is a leading provider of packaging solutions and offers its products and services to a wide range of industries. The company currently pays a quarterly dividend of $0.125 per share and has a dividend yield of 5.26%, as of March 30. The company holds a 40-year track record of consistent dividend growth, which makes AMCR one of the best dividend aristocrat stocks on our list.

At the end of December 2023, 21 hedge funds held stakes in Amcor plc (NYSE:AMCR), compared with 23 in the previous quarter, as per Insider Monkey’s database. These stakes are collectively valued at over $164 million. With over 9.2 million shares, Millennium Management was the company’s leading stakeholder in Q4.

3. 3M Company (NYSE:MMM)

Dividend Yield as of March 30: 5.70%

3M Company (NYSE:MMM) is next on our list of the best dividend aristocrat stocks. The multinational conglomerate holds one of the longest dividend growth streaks in the market, spanning over 66 years. Currently, it pays a quarterly dividend of $1.51 per share and has a dividend yield of 5.70%, as recorded on March 30.

The number of hedge funds tracked by Insider Monkey owning stakes in 3M Company (NYSE:MMM) grew to 62 in Q4 2023, from 54 in the previous quarter. The overall value of these stakes is more than $1.75 billion.

2. Realty Income Corporation (NYSE:O)

Dividend Yield as of March 30: 5.71%

Realty Income Corporation (NYSE:O) is an American real estate investment trust company that is also known as a ‘monthly dividend stock’. The company currently pays a monthly dividend of $0.257 per share and has a dividend yield of 5.71%, as of March 30. It has raised its payouts 124 times since becoming public in 1994.

As per Insider Monkey’s database of Q4 2023, 27 hedge funds had investments in Realty Income Corporation (NYSE:O), up from 23 in the previous quarter. The total value of these stakes is over $332.5 million.

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

Dividend Yield as of March 30: 8.98%

Altria Group, Inc. (NYSE:MO) tops our list of the best dividend aristocrat stocks with high yields. The multinational tobacco has been rewarding shareholders with growing dividends for the past 54 years and offers a quarterly dividend of $0.98 per share. The stock’s dividend yield on March 30 came in at 8.98%.

At the end of the fourth quarter of 2023, 42 hedge funds in Insider Monkey’s database reported having stakes in Altria Group, Inc. (NYSE:MO), growing from 40 in the previous quarter. The collective value of these stakes is over $1.08 billion.

You can also take a look at 11 Best Beaten Down Dividend Stocks to Invest in Now and 10 Best Industrial Machinery Stocks to Invest In