20 Best Dividend Growth Stocks with High Yields

15. The J. M. Smucker Company (NYSE:SJM)

Dividend Yield as of May 13: 3.87%

The J. M. Smucker Company (NYSE:SJM) is an American food company, headquartered in Ohio. The company manufactures a wide range of food and beverage products. In its recent quarterly update, the company emphasized the importance of its procurement strategies amid rising commodity prices, especially green coffee, to help safeguard margins. The company also pointed to one-time factors, such as trademark impairments and supply chain disruptions, that negatively affected its overall operating performance and contributed to mixed results.

For fiscal Q3 2025, The J. M. Smucker Company (NYSE:SJM) reported $2.2 billion in revenue, a 2% year-over-year decline. It posted a net loss of $6.22 per diluted share, mainly due to noncash impairment charges tied to its Sweet Baked Snacks business. However, on an adjusted basis, earnings per share rose 5% to $2.61. Gross profit increased by $55 million, or 7%, thanks to improved pricing, cost efficiencies, and benefits from the Hostess Brands acquisition, though lower volumes and recent divestitures partially offset these gains.

Though The J. M. Smucker Company (NYSE:SJM) is a strong dividend company, its cash position took a hit this quarter. Free cash flow dropped significantly to $151.3 million, down 39.3% from the prior year, due to timing differences in tax payments and increased working capital needs. Operating cash flow also declined, highlighting the need for more disciplined cash management going forward. Despite these challenges, SJM remains appealing to income-focused investors, supported by a 23-year streak of dividend growth. Currently, it offers a quarterly dividend of $1.08 per share and has a dividend yield of 3.87%, as of May 13.