5 Best Performing Dividend Stocks in 2022

In this article, we discuss 5 best-performing dividend stocks in 2022. If you want to read our detailed analysis of dividend investing and returns of dividend stocks in the past, go directly to read 12 Best Performing Dividend Stocks in 2022. 

5. Cardinal Health, Inc. (NYSE:CAH)

Dividend Yield as of December 21: 2.48%

Cardinal Health, Inc. (NYSE:CAH) is an American multinational healthcare services company. In fiscal Q1 2023, the company reported revenue of nearly $50 billion, which showed a 13% growth from the same period last year. It had $3.5 billion available in cash and cash equivalents and its total current assets came in at $32.7 billion.

Cardinal Health, Inc. (NYSE:CAH) holds a 36-year streak of consistent dividend growth, which makes it one of the best dividend stocks on our list. The company currently pays a quarterly dividend of $0.4957 per share and has a dividend yield of 2.48%, as of December 21.

In November, Baird raised its price target on Cardinal Health, Inc. (NYSE:CAH) to $82 with a Neutral rating on the shares, highlighting the company’s improving underlying business fundamentals.

At the end of Q3 2022, 45 hedge funds in Insider Monkey’s database owned stakes in Cardinal Health, Inc. (NYSE:CAH), up from 44 a quarter earlier. The stakes owned by these hedge funds have a total value of over $1.03 billion.

Ariel Investments mentioned Cardinal Health, Inc. (NYSE:CAH) in its Q3 2022 investor letter. Here is what the firm has to say:

“Additionally, distributor of pharmaceutical and medical products Cardinal Health, Inc. (NYSE:CAH) advanced in the period as leadership changes were viewed to be a positive for shares. Management provided a new profit outlook for Fiscal 2023 and announced an improvement plan for the medical segment. We are encouraged by these changes and think CAH’s underlying fundamentals and competitive advantages around preventative maintenance screenings and medication management will continue to improve. We believe valuations of health care companies like CAH that focus on cost optimization and promote technological efficiency across the supply chain will be rewarded over the long term.”