5 Dogs of the Dow Dividend Stocks to Buy

In this article, we discuss 5 Dogs of the Dow dividend stocks to buy. If you want to read our detailed analysis of the Dogs of the Dow strategy and its returns over the years, go directly to read 12 Dogs of the Dow Dividend Stocks to Buy. 

5. International Business Machines Corporation (NYSE:IBM)

Dividend Yield as of November 9: 4.54%

International Business Machines Corporation (NYSE:IBM) is a global tech and consulting company. It provides a wide range of information technology (IT) services to businesses and organizations. The company declared a quarterly dividend of $1.66 per share on October 30, consistent with its previous dividend. Overall, it has raised its dividends every year for the past 28 years. The stock’s dividend yield on November 9 came in at 4.54%.

At the end of Q2 2023, 51 hedge funds in Insider Monkey’s database reported having stakes in International Business Machines Corporation (NYSE:IBM), growing from 49 in the preceding quarter. The consolidated value of these stakes is roughly $814 million.

4. 3M Company (NYSE:MMM)

Dividend Yield as of November 9: 6.47%

3M Company (NYSE:MMM) is next on our list of the best dogs of the Dow to buy now. The American multinational conglomerate has demonstrated a remarkable 65-year track record of consistent dividend growth. Presently, the company provides a quarterly dividend of $1.50 per share, resulting in an attractive dividend yield of 6.47% as of November 9.

As per Insider Monkey’s database of Q2 2023, 49 hedge funds owned investments in 3M Company (NYSE:MMM), down from 51 in the preceding quarter. The collective value of these stakes is over $726.7 million.

3. Dow Inc. (NYSE:DOW)

Dividend Yield as of November 9: 5.76%

Dow Inc. (NYSE:DOW) is a diversified, global chemical company that operates in various sectors of the chemical industry. In its recently announced third-quarter earnings, the company declared that it has returned $492 million to shareholders in dividends, which makes it one of the best dogs of the Dow to buy now. In addition to this, the company has been making uninterrupted dividend payments to shareholders since 1912. It currently offers a quarterly dividend of $0.70 per share for a dividend yield of 5.76%, as of November 9.

As of the close of Q2 2023, 37 hedge funds in Insider Monkey’s database reported having stakes in Dow Inc. (NYSE:DOW), down from 45 a quarter earlier. The total value of these stakes is over $1.05 billion.

2. Verizon Communications Inc. (NYSE:VZ)

Dividend Yield as of November 9: 7.44%

An American telecommunications company, Verizon Communications Inc. (NYSE:VZ) has a 17-year run of growing its dividends. The company pays a quarterly dividend of $0.665 per share currently and its dividend yield on November 9 came in at 7.44%.

At the end of Q2 2023, 53 hedge funds in Insider Monkey’s database held stakes in Verizon Communications Inc. (NYSE:VZ), compared with 59 in the previous quarter. The total value of these stakes is roughly $829 million.

1. Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Dividend Yield as of November 9: 9.09%

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) tops our list of the best dogs of the Dow to buy now. The multinational retail pharmacy and healthcare company pays a quarterly dividend of $0.48 per share and has a dividend yield of 9.09%, as recorded on November 9. The company is just three years away from becoming a Dividend King, having raised its payouts for 47 years in a row.

Of the 910 hedge funds, 34 funds in Insider Monkey’s database reported having stakes in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) in Q2 2023, compared with 39 in the previous quarter. The collective value of these stakes is over $440.8 million.

You can also take a look at Top 11 Extreme Value Stocks To Buy and 11 Best S&P 500 Stocks To Buy According to Ray Dalio’s Bridgewater Associates