12 Best High Dividend Stocks Under $100

Published March 20, 2024 at 8:58 am EDT Updated September 7, 2026 at 12:51 pm EDT

In this article, we discuss 12 best high dividend stocks under $100.

The underperformance of dividend stocks last year created opportunities for long-term investors who can take advantage of favorable valuations at present. Investors are particularly drawn to stocks that offer above-average yields and companies with consistent dividend payment track records. It’s widely acknowledged that dividend yield holds significant importance when investing in dividend stocks. In the last CNBC‘s Delivering Alpha Stock Survey conducted in 2023, in which 300 investors, traders, and money managers were polled, dividend investing came out to be a key strategy popular among investors. About 23% of the polled audiences said they prefer high dividend-yielding stocks.

While high-dividend stocks may not always be the optimal choice, research indicates that over the long term, they tend to yield better results. A study conducted by the University of Nevada found that portfolios consisting of the top 10 highest dividend yield stocks from the Dow 30 index outperformed portfolios with medium and low dividend yields between 1987 and 2012. The study also highlighted that investing in high dividend yield stocks proved to be profitable in the long run, although short-term returns could fluctuate significantly.

According to a report from Capital Group, high dividend stocks exhibit potential for superior downside capture. The downside capture ratio is a metric used to assess how a fund performed relative to the index during market downturns. A ratio below 100 suggests that a fund experienced less loss compared to the index during a given period, while a ratio above 100 indicates greater loss than the index. Drawing on data from Eugene Fama and Kenneth French, the report emphasized that historically, high-dividend stocks have offered greater downside protection compared to stocks with low or no dividends. Specifically, over 30 years, high dividend-paying stocks exhibited significantly lower downside capture, experiencing less loss compared to the S&P 500 Index when contrasted with lower dividend-paying counterparts.

As mentioned earlier, combining high dividend yields with a consistent track record of dividend growth forms an advantageous investment strategy for investors. Nevertheless, these qualities are present in only a select few stocks. Philip Morris International Inc. (NYSE:PM), Verizon Communications Inc. (NYSE:VZ), and Bristol-Myers Squibb Company (NYSE:BMY) are some of the best dividend stocks in this regard as these companies have not only raised their dividends over the years but also maintain above-average yields, making them attractive options for investors seeking reliable income streams. In this article, we will take a look at some high-yield stocks under $100.

Photo by Yiorgos Ntrahas on Unsplash

Our Methodology:

For this list, we first used a stock screener to identify dividend-paying stocks priced below $100 and offering dividend yields above 5% as of March 19. From that selection, we chose 12 companies with strong dividend histories and ranked them in ascending order of hedge funds’ sentiment toward them, according to Insider Monkey’s database of Q4 2023. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here).

12. Universal Corporation (NYSE:UVV)

Number of Hedge Fund Holders: 8

Dividend Yield as of March 19: 6.31%

Share Price as of March 19: $50.7

Universal Corporation (NYSE:UVV) is a global leaf tobacco supplier. It operates in various segments of the tobacco industry, including procuring, processing, packaging, storing, and shipping leaf tobacco. On February 7, the company declared a quarterly dividend of $0.80 per share, which was in line with its previous dividend. The company is a dividend king with 53 consecutive years of dividend growth under its belt, which makes UVV one of the best dividend stocks with high yields. The stock has a dividend yield of 6.31%, as of March 19.

At the end of Q4 2023, 8 hedge funds tracked by Insider Monkey reported having stakes in Universal Corporation, compared with 9 in the previous quarter. The consolidated value of these stakes is over $107 million.

11. Innovative Industrial Properties, Inc. (NYSE:IIPR)

Number of Hedge Fund Holders: 11

Dividend Yield as of March 19: 7.50%

Share Price as of March 19: $97.12

Innovative Industrial Properties, Inc. (NYSE:IIPR) is an American real estate investment trust company that specializes in the acquisition, ownership, and management of properties used for the cultivation and processing of medical-use cannabis. The company’s quarterly dividend comes in at $1.82 per share for a dividend yield of 7.50%, as of March 19. With seven consecutive years of dividend growth, IIPR is one of the best dividend stocks with high yields.

As of the end of Q4 2023, 11 hedge funds in Insider Monkey’s database owned stakes in Innovative Industrial Properties, Inc., compared with 16 in the preceding quarter. These stakes have a collective value of over $142.6 million. Among these hedge funds, Zimmer Partners was the company’s leading stakeholder in Q4.

10. Spire Inc. (NYSE:SR)

Number of Hedge Fund Holders: 16

Dividend Yield as of March 19: 5.08%

Share Price as of March 19: $59.4

Spire Inc. (NYSE:SR) is a Missouri-based energy company that operates primarily in the natural gas industry. The company provides natural gas service to residential, commercial, industrial, and wholesale customers across several states in the US. The company pays a quarterly dividend of $0.755 per share, having raised it by 5% in November 2023. Through this increase, it stretched its dividend growth streak to 21 years. With a dividend yield of 5.08% as of March 19, SR is one of the best dividend stocks with high yields.

Spire Inc. was a part of 16 hedge fund portfolios at the end of Q4 2023, which remained unchanged from the previous quarter, as per Insider Monkey’s database. The stakes owned by these hedge funds have a total value of over $52.2 million.

9. W. P. Carey Inc. (NYSE:WPC)

Number of Hedge Fund Holders: 18

Dividend Yield as of March 19: 6.22%

Share Price as of March 19: $55.6

W. P. Carey Inc. (NYSE:WPC) is a real estate investment trust company that specializes in the ownership and management of commercial real estate properties. On March 15, the company declared a 0.6% hike in its quarterly dividend to $0.865 per share. The decision was made shortly after the company reduced its dividend by nearly 20% in December 2023. The stock offers a dividend yield of 6.22%, as of March 19.

According to Insider Monkey’s database of Q4 2023, 18 hedge funds in Insider Monkey’s database reported owning stakes in W. P. Carey Inc., compared with 21 in the previous quarter. The consolidated value of these stakes is over $209 million. With over 1 million shares, Balyasny Asset Management was the company’s leading stakeholder in Q4.

8. Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Number of Hedge Fund Holders: 19

Dividend Yield as of March 19: 6.19%

Share Price as of March 19: $62.38

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) is a leading provider of high-speed internet access and data transport services to businesses and organizations around the world. On February 29, the company announced a 1% hike in its quarterly dividend to $0.965 per share. This was the company’s 46th consecutive quarterly dividend hike, which makes CCOI one of the best dividend stocks with high yields. As of March 19, the stock has a dividend yield of 6.19%.

Cogent Communications Holdings, Inc. was included in 19 hedge fund portfolios at the end of Q4 2023, down slightly from 20 in the previous quarter, as per Insider Monkey’s database. These stakes are worth roughly $420 million in total.

7. Hasbro, Inc. (NASDAQ:HAS)

Number of Hedge Fund Holders: 25

Dividend Yield as of March 19: 5.18%

Share Price as of March 19: $54.04

Hasbro, Inc. (NASDAQ:HAS) is a Rhode Island-based toy and entertainment company that designs, manufactures, and markets a wide range of toys, games, and entertainment products. The company currently pays a quarterly dividend of $0.70 per share and has a dividend yield of 5.18%, as of March 19.

As of the end of the December quarter of 2023, 25 hedge funds held stakes in Hasbro, Inc., compared with 28 in the previous quarter. These stakes have a total value of over $464.5 million.

ClearBridge Investments mentioned Hasbro, Inc. in its Q4 2023 investor letter. Here is what the firm has to say:

“Stock selection in the consumer discretionary sector also weighed on performance. This included two of the portfolio’s top individual detractors in Hasbro, Inc. (NASDAQ:HAS) and Aptiv. Hasbro, which owns global entertainment brands such as Monopoly, My Little Pony, and Nerf, has struggled over the past few quarters due to lackluster demand for toys and games in favor of other forms of digital entertainment. Persistent underperformance has undermined our optimism over the company’s legacy businesses, and ultimately led us to exit the stock.”

6. Agree Realty Corporation (NYSE:ADC)

Number of Hedge Fund Holders: 26

Dividend Yield as of March 19: 5.30%

Share Price as of March 19: $55.9

Agree Realty Corporation (NYSE:ADC) ranks sixth on our list of the best dividend stocks with high yields. The real estate investment trust company specializes in the acquisition, development, and management of properties primarily leased to retail tenants. The company offers a monthly dividend of $0.247 per share and has a dividend yield of 5.30%, as of March 19.

Insider Monkey’s database of Q4 2023 indicated that 26 hedge funds owned stakes in Agree Realty Corporation, compared with 28 in the previous quarter. These stakes have a total value of over $377.8 million. Zimmer Partners was the largest stakeholder of the company, owning nearly 3 million shares.

5. ONEOK, Inc. (NYSE:OKE)

Number of Hedge Fund Holders: 27
Dividend Yield as of March 19: 5.05%
Share Price as of March 19: $78.44

ONEOK, Inc. (NYSE:OKE) is a leading energy company primarily involved in the gathering, processing, storage, and transportation of natural gas and natural gas liquids in the US. The company declared a nearly 4% hike in its quarterly dividend to $0.99 per share in January this year. In its recent quarterly earnings, the company mentioned that it is targeting an annual dividend growth rate ranging between 3% to 4%. The stock has a dividend yield of 5.05% as of March 19, which makes OKE one of the best dividend stocks with high yields.

As per Insider Monkey’s database of Q4 2023, 27 hedge funds held stakes in ONEOK, Inc., down from 36 in the previous quarter. These stakes are collectively valued at over $593.2 million. With over 3 million shares, First Eagle Investment Management was the company’s leading stakeholder in Q4.

4. Realty Income Corporation (NYSE:O)

Number of Hedge Fund Holders: 27
Dividend Yield as of March 19: 5.92%
Share Price as of March 19: $52.08

An American real estate investment trust company, Realty Income Corporation (NYSE:O) is next on our list of the best dividend stocks with high yields. On March 13, the company declared a 0.2% hike in its monthly dividend to $0.257 per share. This was the company’s 124th dividend increase since its listing on the NYSE in 1994. The stock has a dividend yield of 5.92%, as of March 19.

Realty Income Corporation was a part of 28 hedge fund portfolios at the end of Q4 2023, up from 23 in the previous quarter, according to Insider Monkey’s database. These stakes are worth $332.5 million in total.

3. Dow Inc. (NYSE:DOW)

Number of Hedge Fund Holders: 39
Dividend Yield as of March 19: 5.01%
Share Price as of March 19: $56.7

Dow Inc. (NYSE:DOW) is a multinational corporation that operates in the materials science industry. The company is involved in the manufacturing and marketing of a wide range of chemical, plastic, and agricultural products. It has been making regular dividend payments to shareholders since 1912 and currently offers a quarterly dividend of $0.70 per share. With a dividend yield of 5.01% as of March 19, DOW is one of the best dividend stocks on our list with high yields.

As of the close of Q4 2023, 39 hedge funds in Insider Monkey’s database owned stakes in Dow Inc., which remained unchanged from the previous quarter. The consolidated value of these stakes is over $1.3 billion. Among these elite funds, Pzena Investment Management was the company’s leading stakeholder in Q4.

2. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 63
Dividend Yield as of March 19: 6.65%
Share Price as of March 19: $40

Verizon Communications Inc. is an American multinational telecommunications company that operates primarily in the fields of wireless communication, broadband, and digital media. The company declared a quarterly dividend of $0.665 per share on February 29, which was consistent with its previous dividend. Overall, it has been reading shareholders with growing dividends for the past 17 consecutive years, which makes it one of the best dividend stocks on our list. The stock’s dividend yield came in at 6.65% on March 19.

Verizon Communications Inc. was included in 63 hedge fund portfolios at the end of Q4 2023, up from 61 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these hedge funds have a total value of over $2.6 billion.

1. Philip Morris International Inc. (NYSE:PM)

Number of Hedge Fund Holders: 68
Dividend Yield as of March 19: 5.46%
Share Price as of March 19: $95.30

Philip Morris International Inc. ranks first on our list of the best dividend stocks on our list. The Connecticut-based tobacco company offers a quarterly dividend of $1.30 per share and has a dividend yield of 5.46%, as of March 19. The company holds a 14-year streak of consistent dividend growth.

At the end of Q4 2023, 68 hedge funds, up from 63 in the previous quarter, held stakes in Philip Morris International Inc., as per Insider Monkey’s database. The collective value of these stakes is more than $5.5 billion.

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