5 Best High-Yield Dividend Stocks for Retirees in 2022

In this article, we discuss 5 best high-yield dividend stocks for retirees in 2022. If you want to read our detailed analysis of dividend investment for a retirement portfolio, go directly to read 10 Best High-Yield Dividend Stocks for Retirees in 2022. 

5. The Scotts Miracle-Gro Company (NYSE:SMG)

Dividend Yield as of August 21: 3.43%

The Scotts Miracle-Gro Company (NYSE:SMG) is an Ohio-based multinational corporation that manufactures and sells consumer lawn, garden, and pest control products. In fiscal Q3 2022, the company reported cash and cash equivalents of over $27.8 million, while its total assets stood at over $2.5 billion. Its cash flow generation also remained stable, reporting $463 million in operating cash flow and $430 million in free cash flow. The Scotts Miracle-Gro Company (NYSE:SMG) has a safe dividend payout ratio of 36.2%.

On August 2, The Scotts Miracle-Gro Company (NYSE:SMG) declared a quarterly dividend of $0.66 per share, in line with its previous dividend. The company holds a 12-year streak of dividend growth, coming through as one of the best stocks for retirees. As of August 21, the stock’s dividend yield came in at 3.43%.

As of the close of Q2 2022, 25 hedge funds in Insider Monkey’s database owned stakes in The Scotts Miracle-Gro Company (NYSE:SMG), up from 19 in the previous quarter. These stakes are valued at over $142.8 million. First Eagle Investment Management was the company’s largest stakeholder in Q2, owning over 1.7 million shares.