15 Very High Yield Dividend Stocks Worth Checking Out

14. Philip Morris International (NYSE: PM)

Dividend Yield: 6.03%

Revenue: $30.2 billion

Market Cap: $127.68 billion

Assets: $37.5 billion

Headquarters: New York, NY

PM ranks 14th on our list of the very high yield dividend stocks. Philip Morris is one of the biggest names in the tobacco industry. According to Yahoo Finance, Philip Morris currently offers a quarterly dividend of $1.20 per share, yielding around 6.03%. The company also offers 12 consecutive years of increased dividends. Philip Morris is promoting their “Unsmoke” campaign which transitions the company’s business to next-gen tobacco products such as vaping and combustible heated tobacco. This strategy seems to be working as the company outperformed analysts’ expectations in its latest quarter and its shares rose more than 4% following the earnings release.

In a Q2 2020 investor letter, First Eagle Investment Management mentioned the following about PM’s market performance:

“Philip Morris was able to recover some of the ground lost during the first quarter selloff but remains well below its early-year highs. Tobacco industry volumes were hurt by Covid-19, as lockdowns and other social-distancing restrictions in certain key markets hurt demand. Duty-free sales also suffered given the lack of global travel during the period. Given its pricing power, cost discipline, and robust balance sheet, we believe Philip Morris appears well-positioned to navigate the ongoing transition from traditional combustible tobacco products to “heat not burn” alternatives.”

13. New York Community Bancorp (NYSE: NYCB)

Dividend Yield: 6.50%

Revenue: $1.9 billion

Market Cap: $5.08 billion

Assets: $54.3 billion

Headquarters: Westbury, NY

New York Community Bancorp is one of the leading investment companies engaged in multi-family loans and non-luxury leased buildings. According to Yahoo Finance, NYCB currently pays a quarterly an annualized dividend of $0.68 per share, yielding around 6.50%