5 Best High-Dividend Stocks Under $100

3. State Street Corporation (NYSE:STT)

Share Price as of October 18: $63.14
Dividend Yield as of October 18: 4.01%

State Street Corporation (NYSE:STT) is a Boston-based financial service and bank holding company. Deutsche Bank mentioned the company in its October investor note, stating that the stock is a good long-term entry for income investors but the firm also remained cautious about the company’s slow revenue. The firm maintained a Hold rating and a $66 price target on the stock.

State Street Corporation (NYSE:STT) has been making dividend payments for the past 24 years while maintaining a 12-year streak of dividend growth. This places it as one of the best dividend stocks on our list. It currently pays a quarterly dividend of $0.63 per share with a dividend yield of 4.01%, as of October 18.

In Q3 2022, State Street Corporation (NYSE:STT) reported revenue of roughly $3 billion. The company’s solid cash position allowed it to return $232 million to shareholders in dividends. Moreover, it intends to purchase nearly $1 billion worth of its common stock in the next quarter.

The number of hedge funds tracked by Insider Monkey owning stakes in State Street Corporation (NYSE:STT) grew to 41 in Q2 2022, from 29 in the previous quarter. The collective value of these stakes is over $667.6 million. With over 6 million shares, Harris Associates was the largest stakeholder of the Boston-based company in Q2.