5 Best High-Yield Dividend Champions to Buy in August

2. Mercury General Corporation (NYSE:MCY)

Dividend Yield as of August 1: 6.17%

Mercury General Corporation (NYSE:MCY) is a California-based multiple-line insurance company that provides services to homeowners, renters, and other businesses.

At the end of Q1 2022, Mercury General Corporation (NYSE:MCY) reported cash of over $295.7 million, with total assets amounting to over $6.6 billion. During Q1, the company paid 56.5% of its net income in dividend payments, which shows that its dividends are safe for the upcoming years. Its free cash flow stood at over $98 million, compared with $61.6 million recorded at the end of December 2021.

Mercury General Corporation (NYSE:MCY) has been raising its dividends for the past 33 years. Its current quarterly payout stands at $0.635 per share, with a yield of 6.17%.

At the end of March 2022, 20 hedge funds in Insider Monkey’s database owned stakes in Mercury General Corporation (NYSE:MCY), up from 16 in the previous quarter. These stakes are collectively valued at $128.8 million.