5 High-Yield Dividend Stocks According to Billionaire Mario Gabelli

3. TOTAL SE (NYSE: TOT)

Number of Hedge Fund Holders: 14
Dividend Yield: 6.80%

TOTAL SE (NYSE: TOT) is a French company that has operations in the oil and gas industry. The company recently announced that its Lake Albert project which has been experiencing delays will start exporting crude in 2025. The announcement was made after the finalization of important agreements necessary to facilitate the development of two Ugandan oil fields, as well as the development of a pipeline in Tanzania.

The pipeline will transport oil from Uganda to the Tanga port in Tanzania. Its construction will cost $3.5 billion and Total will build it in partnership with CNOOC Limited (CEO). The entire operation will cost roughly $5.1 billion and current estimates suggest that it produce more than 1 billion barrels of oil. Total intends to resume refinery activities at its Gonfreville refinery based in France in May this year.

TOTAL SE (NYSE: TOT)’s refining activities as the Texas Gulf Coast-based Port Arthur refinery were disrupted due to unplanned maintenance activities which may have been necessitated by the winter storm in February this year. Total recently signed a major deal with Iraq to build four large-scale energy projects, including a 1,000-megawatt solar energy project. The investment for the four projects is estimated to cost over $7 billion. The company’s portfolio of projects under development, as well as its ongoing operations, highlight its ability to remain one of the best high yield dividend stocks.