12 Ultra-High Dividend Stocks to Buy for Income Investors

In this article, we will take a look at the 12 Ultra-High Dividend Stocks to Buy for Income Investors. 

Wells Fargo Investment Institute believes investors should place a greater focus on income as they navigate an increasingly uncertain environment.

In the bank’s midyear outlook, Darrell Cronk, president of Wells Fargo Investment Institute and chief investment officer for Wealth and Investment Management, said investors must balance current opportunities with several risks that could emerge in the months ahead. Prioritizing income was one of the key investment themes he highlighted for the remainder of the year. Cronk wrote:

“Although investors are now able to lock in higher yields than we’ve seen in decades, today’s economic backdrop brings key risks that include inflation, income replacement (i.e., replacing maturing bonds with new assets paying similar interest rates), and stock market concentration with high-level uncertainty as markets digest the effects of the U.S.-Iran war and accompanying high oil prices, a new Fed chairman, and an upcoming mid-year election that may have impacts on fiscal policy, both before and after the election.”

Cronk and his team believe investors should generate income from a mix of asset classes rather than relying on a single source. Tracie McMillion, head of global asset allocation strategy, stated the following after the outlook’s release.

“Building an income-focused portfolio isn’t just about building a laddered bond portfolio anymore. It’s about building a resilient, multi-asset class income stream.”

That approach includes adding dividend-paying stocks. According to McMillion, dividend stocks can offer a measure of protection when prices rise because they have the potential to grow over time, unlike traditional fixed-income investments, which typically do not provide a hedge against inflation. She specifically favors sectors such as financials, industrials, and utilities. These sectors tend to benefit from inflationary environments and, as a group, generally offer above-market dividend yields. McMillion also noted that dividend stocks can help investors reduce their exposure to the heavy concentration of technology stocks in many portfolios. The outlook noted:

“While higher dividend-paying stocks may not always be the fastest growing names, they may be more resilient as technology-related equities enter periods of selling, as we have seen repeatedly since at least last October.”

Given this, we will take a look at some of the best dividend stocks with ultra-high yields.

Photo by Vitaly Taranov on Unsplash

Our Methodology:

For this list, we screened for dividend companies that have consistent dividend histories. From there, we picked stocks with dividend yields above 9%, as of June 21. Companies with high dividend yields often do not have the most stable dividend policies. For this list, we focused on companies that have not only offered attractive yields but have also maintained consistent dividend payments over the years. We limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Insider Monkey’s quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).

12. Northern Oil and Gas, Inc. (NYSE:NOG)

Dividend Yield as of June 21: 9.26%

On June 15, Raymond James lowered its price recommendation on Northern Oil and Gas, Inc. (NYSE:NOG) to $30 from $35. It reiterated an Outperform rating on the shares. The firm pointed to Northern Oil and Gas’ agreement to acquire a 25% non-operated stake in Parallax Energy’s Duvernay East Shale Basin assets for $259 million. The transaction is expected to add roughly 4 MBoe/d of production in fiscal 2027 and about 75,000 net acres. It also brings assets with operating costs below the company’s average, which should support profitable growth in light-oil production.

During the company’s first-quarter 2026 earnings call, Chief Financial Officer Chad Allen said management had left its 2026 guidance unchanged because commodity prices, industry conditions, and the broader economy remain unpredictable. Allen said the company was currently tracking toward the upper end of the low-activity scenario it outlined last quarter. Even so, he noted that there was still a wide range of possible outcomes for the year, making it too early to provide a more detailed forecast.

He said the company expects to tighten its guidance ranges and offer a clearer outlook by the time it reports second-quarter results. Allen also noted that natural gas realizations in the Permian Basin are likely to remain under pressure for the next several quarters. He explained that infrastructure constraints are expected to continue until new projects begin coming online in the second half of 2026.

Northern Oil and Gas, Inc. (NYSE:NOG) is an independent energy company that operates as a non-operator. The company acquires interests in oil and natural gas properties and focuses on their exploration, development, and production.

11. Autohome Inc. (NYSE:ATHM)

Dividend Yield as of June 21: 10.28%

On May 29, Citi lowered its price recommendation on Autohome Inc. (NYSE:ATHM) to $17 from $18. It reiterated a Neutral rating following the company’s first-quarter results. The firm said pressure from weak new vehicle sales is expected to continue into the second quarter. Still, it noted that the year-over-year decline in original equipment manufacturer advertising could be less severe than it was in the first quarter. Citi also reduced its forward earnings estimates for Autohome, citing ongoing challenges to revenue growth and a weaker-than-expected path for operating profit.

During Autohome’s Q1 2026 earnings call, Chairman and Chief Executive Officer Mr. Chi Liu highlighted the company’s growing user engagement. Citing data from QuestMobile, he said average mobile daily active users reached a record high of more than 80 million in March 2026, up 4.9% from a year earlier.

Liu also discussed the company’s efforts to strengthen its transaction platform. He noted that Autohome had introduced an online car-purchasing feature in two cities through its new retail business. The program is being tested with dealership partners as the company explores new e-commerce models for vehicle purchases. Beyond its domestic market, Autohome continued to expand internationally. Liu said YesAuto, the company’s overseas platform, had officially launched operations in Thailand. He added that Autohome’s global used-car export platform was also up and running and had received positive feedback from the market.

According to Liu, these initiatives represent the beginning of a new growth phase for the company. He said the strategy is built around a dual-circulation model that connects opportunities in both domestic and international markets.

Autohome Inc. (NYSE:ATHM) is a holding company that primarily operates an online platform serving automobile consumers. The company provides a range of services that help users research, buy, sell, and own vehicles.

10. Conagra Brands, Inc. (NYSE:CAG)

Dividend Yield as of June 21: 10.61%

On June 18, Deutsche Bank lowered its price recommendation on Conagra Brands, Inc. (NYSE:CAG) to $12 from $14. It reiterated a Hold rating on the shares. Analyst Steve Powers reduced his fiscal 2027 estimates ahead of Conagra’s upcoming earnings report, pointing to continued cost pressures and “lackluster” consumption trends in scanned retail channels. In a research note, Powers said Conagra could use its recent CEO transition as an opportunity to reset expectations. He believes the company may rebase earnings, address concerns surrounding capital allocation by lowering its dividend payout, and increase investments aimed at driving sales growth.

Earlier, on June 5, Morgan Stanley also lowered its price goals on Conagra Brands to $13 from $15. It maintained an Equal Weight rating on the stock. Analyst Megan Alexander Clapp said investor attention is increasingly focused on fiscal 2027 outlooks as several packaged food companies prepare to report off-cycle earnings in the coming weeks. She noted that she was cutting estimates “again,” largely due to rising cost inflation that continues to weigh on the sector.

Conagra Brands, Inc. (NYSE:CAG) is a branded food company with operations across several business segments, including Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice.

9. Starwood Property Trust, Inc. (NYSE:STWD)

Dividend Yield as of June 21: 11.50%

On June 15, Keefe Bruyette lowered its price recommendation on Starwood Property Trust, Inc. (NYSE:STWD) to $19 from $19.50. It reiterated an Outperform rating on the shares. Analyst Jade Rahmani said he has become “slightly” more cautious about the outlook for commercial real estate. In a research note, he told investors that the sector continues to face challenges, leading to a more measured view of future performance.

Earlier, on June 2, UBS resumed coverage of STWD with a Buy rating. It also set a $20 price target on the stock. The firm noted that the recovery across the commercial mortgage real estate investment trust sector has been “notably bifurcated.” According to UBS, companies that have returned to meaningful loan origination activity are trading at an average of 0.85 times book value. In contrast, firms still dealing with legacy credit issues are trading closer to 0.20 times book value. UBS believes Starwood Property deserves a premium valuation because of its strong balance sheet, diversified business model, and the scale of its platform.

Starwood Property Trust, Inc. (NYSE:STWD) is a real estate investment trust. The company operates through several segments, including Commercial and Residential Lending, Infrastructure Lending, Property, and Investing and Servicing.

8. Kayne Anderson BDC, Inc. (NYSE:KBDC)

Dividend Yield as of June 21: 11.58%

On June 12, Wells Fargo downgraded Kayne Anderson BDC, Inc. (NYSE:KBDC) to Equal Weight from Overweight. It also lowered its price target to $14 from $15. Analyst Finian O’Shea downgraded three business development company stocks, citing more limited upside potential. In a research note, he pointed to “richer valuations and the difficulty to deliver for those in today’s environment.” He also said Wells Fargo sees a risk that continued non-accruals and loan restructurings could pressure net operating income and dividend coverage into next year.

During the company’s first-quarter 2026 earnings call, Co-CEO and Co-Chief Investment Officer Douglas Goodwillie said net investment income came in at $0.43 per share. That provided 108% coverage of the company’s quarterly dividend of $0.40 per share. He also reported a net asset value of $16.23 per share at the end of the quarter.

Goodwillie said the board approved a regular quarterly dividend of $0.40 per share for the second quarter of 2026. He added that management remained confident in its ability to maintain the dividend throughout the year, consistent with the outlook provided during the previous earnings call.

According to Goodwillie, that confidence is supported by the strength and conservative positioning of the investment portfolio. He noted that 93% of investments were first-lien loans, while borrowers had an average leverage ratio of slightly above 4x. He also highlighted the portfolio’s weighted average yield of 10.1%. In addition, the company has limited exposure to more volatile industries, with software and technology investments representing just 2% of the portfolio.

Kayne Anderson BDC, Inc. (NYSE:KBDC) is an externally managed, closed-end, non-diversified management investment company.

7. Annaly Capital Management, Inc. (NYSE:NLY)

Dividend Yield as of June 21: 12.83%

On June 17, BTIG lowered its price recommendation on Annaly Capital Management, Inc. (NYSE:NLY) to $24 from $25. It reiterated a Buy rating on the shares. The firm expects agency mortgage real estate investment trusts to generate an economic return of about 13% in 2026. According to BTIG, dividends should offset some modest declines in book value. The analyst also noted that the long-term outlook for the sector remains favorable, as spreads continue to be attractive compared with historical levels. That environment is expected to support both book values and dividend prospects.

During the company’s first-quarter 2026 earnings call, Chief Executive Officer David Finkelstein said Annaly delivered an economic return of 1.5%. He attributed the result to the resilience and diversification of the company’s housing finance platform despite a volatile market backdrop.

Finkelstein reported earnings available for distribution of $0.76 per share during the quarter. He also said the company raised approximately $510 million in common equity through its at-the-market program. Most of that capital was directed toward Residential Credit and mortgage servicing rights (MSR). As a result, the share of capital invested in those businesses increased from 38% to 44% by the end of the quarter.

Discussing the Agency portfolio, Finkelstein said it had a market value of $92 billion at quarter-end and represented 56% of the firm’s capital. He added that the company repositioned the portfolio by reducing exposure to higher-coupon 6% securities and increasing its allocation to 4.5% to-be-announced (TBA) securities. Finkelstein also highlighted activity in the company’s loan business. During the quarter, Annaly acquired $6.7 billion in whole loans and generated lock volume of $7.4 billion. That marked a 16% increase from the previous quarter and a 41% increase from the same period last year.

He further noted that the OBX platform completed eight securitizations totaling $4.7 billion during the quarter. After quarter-end, the platform priced four more securitizations, bringing the year-to-date total to 12 transactions with a combined value of $6.6 billion.

Annaly Capital Management, Inc. (NYSE:NLY) is a diversified capital manager with investment strategies focused on mortgage finance.

6. Seven Hills Realty Trust (NASDAQ:SEVN)

Dividend Yield as of June 21: 13.66%

On June 2, UBS initiated coverage of Seven Hills Realty Trust (NASDAQ:SEVN) with a Buy rating and a $10 price target. In a research note, the firm said the recovery across the commercial mortgage real estate investment trust sector has been “notably bifurcated.” According to UBS, platforms that have resumed meaningful loan origination activity are trading at an average of 0.85 times book value, while those still dealing with legacy credit issues are trading closer to 0.20 times book value. UBS believes Seven Hills “stands out” as undervalued relative to its return-on-equity outlook.

During the company’s first-quarter 2026 earnings call, President and Chief Investment Officer Lorenzini reported distributable earnings of $5.3 million, or $0.24 per share. He noted that the result came in at the upper end of the company’s guidance range.

Lorenzini also said total outstanding loan commitments reached a record of approximately $776 million. He attributed the increase to the origination of three new loans totaling $67.5 million during the quarter and said it reflected continued progress in deploying the capital raised through the company’s December rights offering.

He added that loan originations completed so far in 2026 were executed at a net interest margin of roughly 195 basis points. According to Lorenzini, this was the highest margin level the company had achieved in the past four years.

Seven Hills Realty Trust (NASDAQ:SEVN) is a real estate investment trust (REIT) that originates and invests in first mortgage loans secured by middle-market transitional commercial real estate properties.

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