20 Best Dividend Growth Stocks with High Yields

7. Flowers Foods, Inc. (NYSE:FLO)

Dividend Yield as of May 13: 5.58%

Flowers Foods, Inc. (NYSE:FLO) ranks seventh on our list of the best dividend stocks with high yields. The Georgia-based bakery products company reported that its first-half performance in 2025 is expected to benefit from recent business wins, cost-cutting efforts, favorable pricing, and lower commodity costs. However, management cautioned that these tailwinds may taper off in the second half, with rising input costs and ongoing category challenges likely to weigh on results. The company also expressed optimism about its planned acquisition of Simple Mills, which is expected to enhance adjusted EBITDA in 2025 but may temporarily reduce adjusted EPS.

In the fourth quarter of 2024, Flowers Foods, Inc. (NYSE:FLO) posted revenue of $1.11 billion, down 1.6% year-over-year and below analysts’ forecasts by $19.7 million. However, net income rose 20.9% to $43.1 million, representing nearly 4% of sales. Adjusted EBITDA increased by 6.3% to $102.4 million, accounting for 9.2% of net sales and reflecting a 70-basis point margin improvement.

For fiscal year 2024, Flowers Foods, Inc. (NYSE:FLO)’s operating cash flow rose to $412.7 million, up $63.3 million from the prior year. The company returned $203 million to shareholders through dividends. The company’s quarterly dividend comes in at $0.24 per share and has a dividend yield of 5.58%, as of May 13. It has been rewarding shareholders with growing dividends for the past 22 years.