5 Best Dividend Stocks According To Jim Cramer

In this article, we discuss the 5 best dividend stocks according to Jim Cramer. If you want to read our detailed analysis of Cramer’s market predictions, go directly to read Best Dividend Stocks According To Jim Cramer.

5. KeyCorp (NYSE:KEY)

Dividend Yield as of December 2: 4.42%

KeyCorp (NYSE:KEY) is an American retail banking company that provides financial services to retail, small businesses, and other clients. In Q3 2022, the company reported revenue of $1.89 billion, which showed a 4% growth from the prior-year period. Its management also approved the remaining $790 million existing share repurchase authorization during the quarter.

Cramer believes that bank stocks can replace tech companies and can be the new market leaders. He recommended KEY due to the bank’s high dividend yield, which is rewarding for investors in the current market.

KeyCorp (NYSE:KEY) is one of the best dividend stocks on our list as it raised its dividend for the 12th consecutive year on November 17. Moreover, its five-year dividend CAGR came in at 16.72%. The company currently pays a quarterly dividend of $0.205 per share and has a dividend yield of 4.42%, as of December 2.

In October, Morgan Stanley maintained an Equal Weight rating on KeyCorp (NYSE:KEY) with a $22 price target, appreciating the company’s fund loan growth.

As per Insider Monkey’s Q3 2022 database, 33 hedge funds owned stakes in KeyCorp (NYSE:KEY), down from 37 in the previous quarter. These stakes are collectively worth over $454.3 million. With 6.3 million shares, Adage Capital Management was the company’s largest stakeholder in Q3.