5 Best Blue Chip Dividend Stocks to Buy in August

1. British American Tobacco p.l.c. (NYSE:BTI)

Dividend Yield as of August 11: 8.89%

British American Tobacco p.l.c. (NYSE:BTI) is a London-based cigarette manufacturing company that also deals in tobacco and other nicotine products. In July, BofA called the stock its favorite staples company in the category and lifted its price target on the stock to $54 while maintaining a Buy rating on the shares.

In July, British American Tobacco p.l.c. (NYSE:BTI) declared a quarterly dividend of $0.735 per share and had an attractive dividend yield of 8.89%, as of August 11. The company has been raising its dividend consistently for the past 23 years.

At the end of Q1 2022, 19 hedge funds tracked by Insider Monkey reported owning stakes in British American Tobacco p.l.c. (NYSE:BTI), up from 18 in the previous quarter. These stakes hold a combined value of over $2.2 billion.

Distillate Capital Partners LLC mentioned British American Tobacco p.l.c. (NYSE:BTI) in its Q1 2022 investor letter. Here is what the firm has to say:

“Distillate Capital’s International FSV Strategy is less expensive, more fundamentally stable, and less levered than the benchmark All Country World Ex U.S. (ACWI-EX US) Index.The largest new position is British American Tobacco (NYSE:BTI), which was not owned previously due to leverage, but now passes that threshold and offers an 11% free cash flow to market cap yield.”

You can also take a look at 10 Best Dividend Stocks of All Time and 10 Best Roth IRA Stocks to Buy and Hold for Long Term

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