As of August 2024, the U.S. stock market has experienced a slight pullback after an impressive rally, with major indices like the S&P 500 and Nasdaq Composite snapping their winning streaks. Despite this minor setback, investor sentiment remains optimistic due to expectations of upcoming interest rate cuts by the Federal Reserve. In such a dynamic market environment, dividend stocks can offer stability and consistent income streams for investors seeking to navigate economic fluctuations.
Top 10 Dividend Stocks In The United States
Name
Dividend Yield
Dividend Rating
Columbia Banking System (NasdaqGS:COLB)
6.09%
★★★★★★
WesBanco (NasdaqGS:WSBC)
4.68%
★★★★★★
Silvercrest Asset Management Group (NasdaqGM:SAMG)
Overview: Timberland Bancorp, Inc., with a market cap of $236.11 million, operates as the bank holding company for Timberland Bank, offering various community banking services in Washington.
Operations: Timberland Bancorp, Inc. generates $74.39 million in revenue from its community banking services in Washington.
Dividend Yield: 3.2%
Timberland Bancorp offers a stable dividend yield of 3.22%, which is below the top 25% of US dividend payers but has been reliable and growing over the past decade. The company's payout ratio is low at 30.9%, indicating well-covered dividends by earnings. Recent financials show slight declines in net income and earnings per share, with a quarterly cash dividend of $0.24 declared in July 2024 alongside ongoing share repurchases totaling $5.68 million since July 2023.
Overview: Ituran Location and Control Ltd., with a market cap of $554.43M, offers location-based telematics services and machine-to-machine telematics products through its subsidiaries.
Operations: Ituran Location and Control Ltd. generates revenue through its location-based telematics services and machine-to-machine telematics products.
Dividend Yield: 5.5%
Ituran Location and Control reported strong earnings for Q2 2024, with revenue of US$84.87 million and net income of US$13.13 million, reflecting consistent growth. The company announced a dividend of $0.39 per share, totaling approximately US$8 million, to be paid on October 9, 2024. Despite a volatile dividend history over the past decade, current dividends are well-covered by earnings (24.7% payout ratio) and cash flows (49.7% cash payout ratio), indicating sustainability in the near term.
Overview: Penns Woods Bancorp, Inc., with a market cap of $176.32 million, operates as the bank holding company for Jersey Shore State Bank, providing commercial and retail banking services to individuals, partnerships, non-profit organizations, and corporations.
Operations: Penns Woods Bancorp, Inc. generates $64.82 million from its Community Banking segment.
Dividend Yield: 5.5%
Penns Woods Bancorp's recent earnings report shows solid financial performance, with Q2 net interest income at US$14.52 million and net income of US$5.39 million, up from the previous year. The company declared a Q2 2024 dividend of $0.32 per share, maintaining a stable and reliable dividend history over the past decade with a payout ratio of 55.4%. However, it was recently dropped from multiple Russell indices and has not repurchased any shares under its buyback program announced in May 2023.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
