5 Best Dividend Stocks Paying Over 6%

In this article, we discuss 5 best dividend stocks paying over 6%. If you want to read our detailed analysis of dividend stocks and their performance in the past, go directly to read 12 Best Dividend Stocks Paying Over 6%. 

5. Truist Financial Corporation (NYSE:TFC)

Number of Hedge Fund Holders: 47
Dividend Yield as of November 23: 6.61%

Truist Financial Corporation (NYSE:TFC) is an American financial services company that provides a wide array of banking services, including personal banking and commercial banking solutions. The company currently offers a quarterly dividend of $0.52 per share and has a dividend yield of 6.61%, as of November 23. It holds an eight-year track record of consistent dividend growth, which makes TFC one of the best dividend stocks.

The number of hedge funds in Insider Monkey’s database owning investments in Truist Financial Corporation (NYSE:TFC) grew to 47 in Q3 2023, from 42 in the previous quarter. The collective value of these stakes is over $976.2 million. With over 12.8 million shares, Diamond Hill Capital was the company’s leading stakeholder in Q3.

4. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 52
Dividend Yield as of November 23: 9.34%

Devon Energy Corporation (NYSE:DVN) is an independent energy company primarily engaged in the exploration, development, and production of oil, natural gas, and natural gas liquids in the US. The company pays a quarterly dividend of $0.77 per share and has a dividend yield of 9.34%, as recorded on November 23.

Devon Energy Corporation (NYSE:DVN) was a popular stock among hedge funds at the end of Q3 2023, as 52 funds owned stakes in the company, up from 45 in the previous quarter, according to Insider Monkey’s database. The consolidated value of these stakes is more than $863.6 million.

3. AT&T Inc. (NYSE:T)

Number of Hedge Fund Holders: 52
Dividend Yield as of November 23: 6.86%

AT&T Inc. (NYSE:T) is next on our list of the best dividend stocks with yields above 6%. The multinational telecommunications company offers a quarterly dividend of $0.2775 per share and has a dividend yield of 6.86%, as of November 23. In the third quarter of 2023, the company reported a strong cash position, generating over $10.3 billion in operating cash flow.

AT&T Inc. (NYSE:T) was a part of 52 hedge fund portfolios at the end of Q3 2023, as per Insider Monkey’s database. The collective value of stakes owned by these hedge funds is over $1.74 billion.

2. 3M Company (NYSE:MMM)

Number of Hedge Fund Holders: 54
Dividend Yield as of November 23: 6.29%

3M Company (NYSE:MMM), commonly known as 3M, is a diversified multinational conglomerate that operates across various sectors, offering a wide range of products and services. The company has been raising its dividends for the past 65 years and currently pays a quarterly dividend of $1.50 per share. The stock’s dividend yield on November 23 came in at 6.29%.

At the end of Q3 2023, 54 hedge funds tracked by Insider Monkey reported having stakes in 3M Company (NYSE:MMM), up from 49 in the preceding quarter. The total value of these stakes is over $818.6 million. With over 1.5 million shares, Citadel Investment Group was the company’s leading stakeholder in Q3.

1. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 61
Dividend Yield as of November 23: 7.12%

An American telecommunications company, Verizon Communications Inc. (NYSE:VZ) tops our list of the best dividend stocks with high dividend yields. The company has been rewarding shareholders with 17 consecutive years of dividend growth and it currently pays a quarterly dividend of $0.665 per share. The stock has a dividend yield of 7.12%, as of November 23.

As of the end of Q3 2023, 61 hedge funds owned stakes in Verizon Communications Inc. (NYSE:VZ), up significantly from 53 in the previous quarter, according to Insider Monkey’s database. The collective value of these stakes is nearly $1.4 billion.

You can also take a look at 14 Low PE High Dividend Stocks to Buy Now and Billionaire Steven Cohen’s Top High Dividend Stock Picks