In this article, we discuss top 30 dividend champions according to dividend yields. You can skip our detailed analysis of dividend stocks and their performance over the years, and go directly to read Dividend Champions List Ranked By Yield: Top 10.
Dividend champions are companies that have increased their dividends for 25 years or more. They share this feature with dividend aristocrats, but the big difference is that dividend champions might not be in the S&P 500, while dividend aristocrats have to be part of it. Setting aside that distinction, what really stands out about these stocks is their consistent track record of giving shareholders more in dividends for a long time.
According to a report by ProShares, over time, companies that grow their dividends have done better than the overall S&P 500. They have also given steady income growth across different types of markets and industries. The ability of these companies to generate steady cash flows and increase dividends regularly has contributed to their outperformance, showcasing their resilience and financial strength even during market fluctuations. The report further mentioned that since its inception, the S&P 500 Dividend Aristocrats Index has consistently beaten the S&P 500 while being less prone to big swings. For example, if you invested $10,000 in May 2005, by March 2023, it could have grown to over $61,000. This index has shown strength in both good and tough market times, capturing about 91% of the good times and 80% during downturns. When the market took a hit in 2022, it stood strong, performing over 12% better than the S&P 500. Impressively, during the ten worst times the market dropped since 2005, this index outperformed the S&P 500 in eight of them, showcasing its resilience during rough patches.
When investing in dividend stocks, investors often focus on dividend yields. However, experts suggest looking more at dividend growth stocks instead of just falling for high yields that might not be sustainable. Eagle Asset Management referred to the historical data and mentioned that indexes of dividend-paying companies usually perform better than the broader market, except for a couple of times when the S&P High Dividend Index significantly lagged behind the S&P 500. This difference might be because companies in the High Dividend Index prioritize paying out a lot of their profits as dividends, which limits their ability to reinvest in growth. When things get tough, the market worries about whether these companies can keep up with high dividends and tends to punish them if they cut or stop paying dividends. On the other hand, companies that focus on increasing their dividends often pay out less of their profits and reinvest more in their businesses. This strategy helps them maintain stability during challenging times, avoiding significant sell-offs.
Altria Group Inc. (NYSE:MO), Walgreens Boots Alliance Inc. (NASDAQ:WBA), and Leggett & Platt Incorporated (NYSE:LEG) are some of the stocks that made it to our dividend champions list. In addition to these, we will discuss some other high-yielding dividend champions in this article.
For this list, we looked at a group of over 150 dividend champions, which are known for raising dividends for 25 years or more. From this list, we chose companies with the highest dividend yields as of November 19 and arranged them in order from lowest to highest yield.
Cullen/Frost Bankers, Inc. (NYSE:CFR) is an American financial holding company, based in Texas. The company offers a wide range of banking, investment, and insurance services to individuals, businesses, and other organizations. It currently pays a quarterly dividend of $0.92 per share and has a dividend yield of 3.71%, as of November 19. The company holds a 30-year track record of consistent dividend growth.
As of the end of Q2 2023, 17 hedge funds tracked by Insider Monkey reported having stakes in Cullen/Frost Bankers, Inc. (NYSE:CFR), compared with 23 in the previous quarter. These stakes are collectively valued at nearly $252 million.
National Fuel Gas Company (NYSE:NFG) is a diversified energy company with various subsidiaries operating in different segments of the energy industry. The company currently offers a quarterly dividend of $0.495 per share, having raised it by 4.2% in June this year. Through this raise, the company stretched its dividend growth streak to 53 years, which makes NFG one of the best dividend stocks on our dividend champions list. The stock has a dividend yield of 3.87%, as recorded on November 19.
At the end of Q2 2023, 26 hedge funds in Insider Monkey's database owned stakes in National Fuel Gas Company (NYSE:NFG), which remained the same from the previous quarter as well. These stakes are collectively valued at over $187.4 million.
Kimberly-Clark Corporation (NYSE:KMB) is a consumer goods company that primarily focuses on the manufacturing and marketing of various personal care and hygiene products. On November 16, the company announced a quarterly dividend of $1.18 per share, which fell in line with its previous dividend. Overall, the company has been raising its dividends for 51 years running. The stock's dividend yield came in at 3.89%, as of November 19.
Insider Monkey's database of Q2 2023 indicated that 38 hedge funds owned stakes in Kimberly-Clark Corporation (NYSE:KMB), compared with 40 in the previous quarter. The consolidated value of these stakes is over $817.5 million.
Community Bank System, Inc. (NYSE:CBU) is a New York-based commercial banking company that offers a wide range of banking services to its consumers. The company's dividend growth streak currently stands at 31 years and it pays a quarterly dividend of $0.45 per share. With a dividend yield of 3.96% as of November 19, CBU is one of the best stocks on our dividend champions list.
As of the end of Q2 2023, 7 hedge funds in Insider Monkey's database reported having stakes in Community Bank System, Inc. (NYSE:CBU), down from 10 in the preceding quarter. The collective value of these stakes is more than $24.5 million. Among these hedge funds, Millennium Management was the company's leading stakeholder in Q2.
An American multinational energy company, Chevron Corporation (NYSE:CVX) is next on our dividend champions list. The company has been rewarding shareholders with growing dividends for the past 36 years. It currently offers a quarterly dividend of $1.51 per share for a dividend yield of 4.18%, as of November 19.
The number of hedge funds tracked by Insider Monkey owning stakes in Chevron Corporation (NYSE:CVX) jumped to 73 in Q2 2023, from 64 in the previous quarter. The consolidated value of these stakes is over $21.4 billion.
Norwood Financial Corp. (NASDAQ:NWFL) is a Pennsylvania-based bank holding company that offers traditional and commercial banking services to its consumers. The company offers a quarterly dividend of $0.29 per share, having raised it by 3.6% in September this year. This was the company's 32nd consecutive year of dividend growth, which places it as one of the best stocks on our dividend champions list. The stock's dividend yield on November 19 came in at 4.22%.
At the end of Q2 2023, 2 hedge funds in Insider Monkey's database held stakes in Norwood Financial Corp. (NASDAQ:NWFL), worth collectively $404,299. Among these hedge funds, Renaissance Technologies was the company's most prominent stakeholder.
24. International Business Machines Corporation (NYSE:IBM)
Dividend Yield as of November 19: 4.34%
International Business Machines Corporation (NYSE:IBM) is a global technology and consulting company that offers a wide range of products and services across various domains, primarily focusing on information technology and business solutions. The company offers a quarterly dividend of $1.66 per share and has a dividend yield of 4.34%, as of November 19. It is one of the best stocks on our dividend champions list as the company has been growing its dividends for 28 consecutive years.
Out of 910 hedge funds tracked by Insider Monkey at the end of Q2 2023, 51 funds owned investments in International Business Machines Corporation (NYSE:IBM), up from 49 in the preceding quarter. These stakes are collectively worth nearly $814 million.
Tompkins Financial Corporation (NYSE:TMP) is an American diversified financial services company that also offers wealth management and financial planning services to its consumers. On November 3, the company declared a quarterly dividend of $0.60 per share, which was in line with its previous dividend. The company has been rewarding shareholders with growing dividends for the past 36 years. The stock has a dividend yield of 4.36%, as of November 19.
As of June 2023, 3 hedge funds in Insider Monkey's database owned stakes in Tompkins Financial Corporation (NYSE:TMP), down from 6 in the preceding quarter. The collective value of these stakes is over $2.1 million. Among these hedge funds, Two Sigma Advisors was the company's leading stakeholder in Q2.
An American bank holding company, United Bankshares, Inc. (NASDAQ:UBSI) is next on our dividend champions list. On November 10, the company declared a 10% hike in its quarterly dividend to $0.37 per share. This marked the company's 50th consecutive year of dividend growth. The stock has a dividend yield of 4.39%, as of November 19.
At the end of Q2 2023, 10 hedge funds owned stakes in United Bankshares, Inc. (NASDAQ:UBSI), up from 8 in the previous quarter, according to Insider Monkey's database. The overall value of these stakes is roughly $20 million.
AbbVie Inc. (NYSE:ABBV) is an American pharmaceutical company primarily known for its focus on developing and marketing drugs for various medical conditions. The company has been raising its dividends for the past 51 years and currently pays a quarterly dividend of $1.55 per share. The stock has a dividend yield of 4.48%, as of November 19. It is among the best stocks on our dividend champions list.
Of the 910 hedge funds tracked by Insider Monkey at the end of Q2 2023, 74 hedge funds owned stakes in AbbVie Inc. (NYSE:ABBV), compared with 75 in the previous quarter. These stakes have a total value of more than $2.3 billion.
Community Trust Bancorp, Inc. (NASDAQ:CTBI) is a Kentucky-based bank holding company that is involved in various banking and financial services catering to individuals, businesses, and municipalities. The company offers a quarterly dividend of $0.46 per share, having raised it by 4.5% in July this year. Through this increase, the company took its dividend growth streak to 43 years, which makes CTBI one of the best dividend stocks on our dividend champions list. The stock's dividend yield on November 19 came in at 4.49%.
At the end of Q2 2023, 8 hedge funds in Insider Monkey's database reported having stakes in Community Trust Bancorp, Inc. (NASDAQ:CTBI), up from 7 in the previous quarter. The consolidated value of these stakes is over $11.7 million.
Eversource Energy (NYSE:ES) is an American leading energy company that manages the distribution of electricity, maintaining power lines, substations, and other infrastructure to deliver electricity to homes, businesses, and communities. The company has been raising its dividends consistently for the past 25 years and currently offers a quarterly dividend of $0.675 per share. As of November 19, the stock has a dividend yield of 4.6%.
As of the close of Q2 2023, 29 hedge funds tracked by Insider Monkey reported having stakes in Eversource Energy (NYSE:ES), up from 26 in the previous quarter. The overall value of these stakes is nearly $437 million.
An American real estate investment trust company, Federal Realty Investment Trust (NYSE:FRT) is next on our dividend champions list. The company's dividend growth streak currently stands at 56 years. It pays a quarterly dividend of $1.09 per share and has a dividend yield of 4.71%, as recorded on November 19.
At the end of June 2023, 15 hedge funds in Insider Monkey's database reported owning stakes in Federal Realty Investment Trust (NYSE:FRT), with a collective value of roughly $125 million.
Southside Bancshares, Inc. (NASDAQ:SBSI) is a Texas-based bank holding company that provides a range of financial services to individuals, businesses, municipalities, and other entities. Earlier this year, the company lifted its dividend by 3%, which took its quarterly dividend to $0.35 per share. This was the company's 19th consecutive year of dividend growth. The stock's dividend yield on November 19 came in at 4.80%.
The number of hedge funds tracked by Insider Monkey owning stakes in Southside Bancshares, Inc. (NASDAQ:SBSI) grew to 16 in Q2 2023, from 12 in the preceding quarter. The collective value of these stakes is roughly $30 million.
Black Hills Corporation (NYSE:BKH) is an American energy company that provides electric utility services to customers in several states. On October 25, the company announced a quarterly dividend of $0.625 per share, which was in line with its previous dividend. It made it to our dividend champions list, as the company has been growing its dividends for 52 consecutive years. The stock has a dividend yield of 4.84%, as of November 19.
As of the close of the June quarter of 2023, 20 hedge funds in Insider Monkey's database owned investments in Black Hills Corporation (NYSE:BKH), up from 18 in the previous quarter. The total value of these stakes is more than $113.4 million. Among these hedge funds, Zimmer Partners was the company's leading stakeholder in Q2.
Franklin Resources, Inc. (NYSE:BEN) is a global investment management company providing a wide range of financial products and services to individual and institutional investors. The company's current quarterly dividend comes in at $0.30 per share for a dividend yield of 4.94%, as of November 19. It is one of the best dividend stocks on our dividend champions list as the company has been raising its dividends for 47 years.
Franklin Resources, Inc. (NYSE:BEN) was a part of 19 hedge fund portfolios at the end of Q2 2023, according to Insider Monkey's database. The stakes owned by these hedge funds have a total value of nearly $170 million.
T. Rowe Price Group, Inc. (NASDAQ:TROW) is an American investment management firm, based in Maryland. On October 31, the company announced a quarterly dividend of $1.22 per share, which was consistent with its previous dividend. The company holds a 37-year streak of consistent dividend growth, which places TROW on our dividend champions list. The stock's dividend yield on November 19 came in at 4.99%.
As of the close of Q2 2023, 24 hedge funds tracked by Insider Monkey reported having stakes in T. Rowe Price Group, Inc. (NASDAQ:TROW), growing from 21 in the preceding quarter. These stakes are collectively valued at over $309 million.
Northwest Natural Holding Company (NYSE:NWN) is a company primarily involved in providing natural gas services to residential, commercial, and industrial customers. The company was included in 13 hedge fund portfolios at the end of Q2 2023, up from 12 in the previous quarter, according to Insider Monkey's database. The total value of stakes owned by these hedge funds is $13.7 million.
Northwest Natural Holding Company (NYSE:NWN) has been rewarding shareholders with growing dividends for the past 68 consecutive years. The company offers a quarterly dividend of $0.4875 per share and has a dividend yield of 5.24%, as of November 19.
Realty Income Corporation (NYSE:O) is next on our dividend champions list. The real estate investment trust company pays monthly dividends to shareholders and holds an impressive 29-year streak of consistent dividend growth. It offers a monthly dividend of $0.256 per share and has a dividend yield of 5.81%, as recorded on November 19.
As of the end of Q2 2023, 24 hedge funds tracked by Insider Monkey owned investments in Realty Income Corporation (NYSE:O), up from 22 in the previous quarter. The collective value of these stakes is more than $243.6 million. With nearly 1 million shares, Marshall Wace LLP was the company's leading stakeholder in Q2.
NNN REIT, Inc. (NYSE:NNN) is another American real estate investment trust company that made it to our dividend champions list. The company pays a quarterly dividend of $0.565 per share and holds a 34-year-long streak of dividend growth. As of November 19, the stock has a dividend yield of 5.82%.
At the end of Q2 2023, 21 hedge funds in Insider Monkey's database reported having stakes in NNN REIT, Inc. (NYSE:NNN), the same as in the previous quarter. Their collective stake value is over $154.4 million.
