In this article, we will take a look at the 5 Best Performing Dividend Stocks So Far in 2026. For deeper discussion and analysis, read 10 Best Performing Dividend Stocks So Far in 2026.
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5. Casey’s General Stores, Inc. (NASDAQ:CASY)
YTD Returns as of May 5: 54.8%
On April 24, KeyBanc raised its price recommendation on Casey’s General Stores, Inc. (NASDAQ:CASY) to $860 from $830. It reiterated an Overweight rating on the shares. The firm sees potential upside to fuel margins in the coming quarters and expects the company to provide an updated long-term algorithm similar to what it shared during its last investor day. KeyBanc believes the sector remains well positioned to benefit from consolidation, along with near-term and long-term upside in fuel margins. The firm also pointed to the nicotine mix shifting toward alternative products, as well as continued growth in prepared foods and energy drinks.
Earlier in April, Casey’s was added to the S&P 500, the index that tracks many of the largest and most influential publicly traded companies in the United States. The company said its inclusion in the S&P 500 reflects its strong financial performance, steady growth, and resilient operating model. Casey’s said these strengths have helped it provide consistent service and quality to customers across its network of more than 2,900 stores.
This marks the first time Casey’s has been included in the S&P 500 since becoming a publicly traded company in 1983.
Casey’s General Stores, Inc. (NASDAQ:CASY) and its subsidiaries operate nearly 2,900 convenience stores across 19 states. The company offers self-service fuel, grocery items, and a range of freshly prepared food products.
4. Applied Materials, Inc. (NASDAQ:AMAT)
YTD Returns as of May 5: 58.05%
On May 5, Seaport Research initiated coverage of Applied Materials, Inc. (NASDAQ:AMAT) with a Buy rating and a $500 price target. The firm said that the company is the best-positioned company among global wafer fabrication equipment suppliers. While the company does not hold ASML’s (ASML) monopoly in EUV lithography, Seaport noted that it offers products across nearly every other major tool category, including deposition, etch, implant, CMP, and cleaning systems. The firm added that Applied Materials’ role in advanced semiconductors is “almost as irreplaceable as ASML.”
On April 28, BofA raised its price recommendation on AMAT to $465 from $420. It reiterated a Buy rating on the shares. The firm increased several price targets across the semiconductor capital equipment space following what it described as “strong” results from Lam Research (LRCX). The analyst said higher industry forecasts could lead to broader upward revisions in estimates across the sector.
Applied Materials, Inc. (NASDAQ:AMAT) is a materials engineering solutions company. The company provides equipment, services, and software to the semiconductor, display, and related industries. It operates through two segments: Semiconductor Systems and Applied Global Services (AGS).
3. Power Integrations, Inc. (NASDAQ:POWI)
YTD Returns as of May 5: 101.2%
On May 4, Power Integrations, Inc. (NASDAQ:POWI) named Michael Balow as Senior Vice President of Worldwide Sales, effective immediately. Balow is scheduled to join the company’s executive management team and take charge of its global sales organization, channel strategy, and growth efforts.
Mr. Balow brings more than 30 years of experience in semiconductor sales and business development. Most recently, he served as executive vice president of sales at onsemi, where he led a global sales team across the automotive, industrial, sensing, and power solutions markets. Jen Lloyd, president and CEO of Power Integrations, made the following statement:
“Mike brings an outstanding record of building high-performance sales organizations, along with deep knowledge of power semiconductors. He will be instrumental in strengthening our relationships with customers while accelerating our penetration of high-growth markets like data center, automotive, and industrial. We are thrilled to welcome Mike to our executive leadership team.”
Power Integrations, Inc. (NASDAQ:POWI) develops semiconductor technologies for high-voltage power conversion. Its products are widely used in the clean-power ecosystem and support renewable energy generation.
2. Corning Incorporated (NYSE:GLW)
YTD Returns as of May 5: 101.8%
On April 29, Truist raised its price target on Corning Incorporated (NYSE:GLW) to $149 from $125 and maintained a Hold rating on the shares. The firm said Corning’s Q1 results highlighted faster growth in its Fiber and Solar businesses. At the same time, segments with greater exposure to consumer electronics and automotive markets are expected to remain relatively flat for the near future, the analyst said in a research note.
During the company’s Q1 2026 earnings call, Chairman, President, and CEO Wendell Weeks said sales rose 18% year over year to $4.35 billion, while EPS increased 30% to $0.70. He also said operating margin improved by 220 basis points to 20.2%. Weeks noted that growing demand for the company’s products has led Corning to prepare another upgrade to its long-term strategy. The company is expected to extend that strategy through 2030 during its investor event in New York City on May 6.
He also said Corning signed two additional long-term agreements with hyperscale customers. According to Weeks, both deals are similar in size and duration to the company’s agreement with Meta Platforms.
Corning Incorporated (NYSE:GLW) operates as a materials science company. Its business segments include Optical Communications, Display, Specialty Materials, Automotive, and Life Sciences. Its Optical Communications segment manufactures carrier network and enterprise network components for the telecommunications industry.
1. Powell Industries, Inc. (NASDAQ:POWL)
YTD Returns as of May 5: 164.7%
On April 27, JPMorgan analyst Tomohiko Sano initiated coverage of Powell Industries, Inc. (NASDAQ:POWL) with an Overweight rating. It also set a $310 price target, implying about 25% upside from current levels. The analyst said Powell is a leader in custom-engineered electrical distribution, control, and safety equipment, serving customers across the oil and gas, petrochemical, utility, and diversified industrial markets. In a research note, JPMorgan said the company’s $1.6B backlog and exposure to long-term trends such as AI, automation, and electrification could support continued growth.
During the fiscal Q2 2026 earnings call, President and CEO Brett Cope said Powell generated $490 million in new orders during the quarter. He added that the company’s backlog had grown to $1.8 billion, which he believes provides visibility into fiscal 2028. Cope also said that after the quarter ended, Powell Industries secured a first-phase greenfield data center contract valued at more than $400 million.
He described it as the largest project award in the company’s history and said the contract would support a behind-the-meter design for a planned multiphase campus.
Powell Industries, Inc. (NASDAQ:POWL) develops, designs, manufactures, and services custom-engineered equipment and systems used to distribute, control, and monitor the flow of electrical energy. Its products also provide protection for motors, transformers, and other electrically powered equipment.
While we acknowledge the potential of POWL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than POWL and that has 100x upside potential, check out our report about the cheapest AI stock.
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