5 Highest Dividend-Paying Stocks in the S&P 500

In this article, we discuss 5 highest dividend-paying stocks in the S&P 500. If you want to read our detailed analysis of high-dividend stocks and their performance over the years, go directly to read 10 Highest Dividend-Paying Stocks in the S&P 500. 

5. 3M Company (NYSE:MMM)

Dividend Yield as of March 12: 6.43%

3M Company (NYSE:MMM) is an American multinational conglomerate that operates in several sectors, including industry, healthcare, consumer goods, and safety and graphics. The company has been growing its dividends for the past 66 years and currently pays a quarterly dividend of $1.51 per share. The stock offers a dividend yield of 6.43%, as of March 12, which makes MMM one of the best dividend stocks with high yields.

The number of hedge funds owning stakes in 3M Company (NYSE:MMM) jumped to 62 in Q4 2023, from 54 in the previous quarter, according to Insider Monkey’s database. The overall value of these stakes is over $1.75 billion. With over 2.6 million shares, Balyasny Asset Management was the company’s leading stakeholder in Q4.

4. Lincoln National Corporation (NYSE:LNC)

Dividend Yield as of March 12: 6.62%

Lincoln National Corporation (NYSE:LNC) is a diversified financial services company that offers life insurance products, including term life, whole life, universal life, and variable universal life insurance policies. The company has been making regular dividend payments to shareholders since 1989, which makes LNC one of the best dividend stocks with high yields. Currently, it offers a quarterly dividend of $0.45 per share and has a dividend yield of 6.62%, as of March 12.

At the end of December 2023, 31 hedge funds in Insider Monkey’s database reported having stakes in Lincoln National Corporation (NYSE:LNC), up from 25 in the preceding quarter. The total value of these stakes is over $270 million.

3. Verizon Communications Inc. (NYSE:VZ)

Dividend Yield as of March 12: 6.63%

Verizon Communications Inc. (NYSE:VZ) is next on our list of the best dividend stocks with high yields. The multinational telecommunications company has been growing its dividends for the past 17 consecutive years and offers a quarterly dividend of $0.665 per share. As of March 12, the stock has a dividend yield of 6.63%.

Verizon Communications Inc. (NYSE:VZ) was a part of 63 hedge fund portfolios at the end of Q4 2023, up from 61 in the previous quarter, as per Insider Monkey’s database. The consolidated value of these stakes is over $2.6 billion. With over 4.7 million shares, AQR Capital Management was the company’s leading stakeholder in Q4.

2. Healthpeak Properties, Inc. (NYSE:DOC)

Dividend Yield as of March 12: 7.02%

Healthpeak Properties, Inc. (NYSE:DOC) is a real estate investment trust company that primarily focuses on investing in and owning healthcare-related properties. The company currently pays a quarterly dividend of $0.30 per share and has a dividend yield of 7.02%, as recorded on March 12. The company has recently finalized the merger with Physicians Realty Trust, as announced earlier. Following the merger, the combined entity will operate under the name Healthpeak Properties, Inc. (NYSE:DOC).

As of the close of Q4 2023, 36 hedge funds tracked by Insider Monkey reported owning stakes in Healthpeak Properties, Inc. (NYSE:DOC), up from 29 in the previous quarter. These stakes have a total value of more than $431.5 million.

1. Altria Group, Inc. (NYSE:MO)

Dividend Yield as of March 12: 9.18%

Altria Group, Inc. (NYSE:MO) tops our list of the best dividend stocks with high yields. The multinational tobacco company has raised its dividends for 54 years in a row and offers a quarterly dividend of $0.98 per share. The stock’s dividend yield on March 12 came in at 9.18%.

At the end of the fourth quarter of 2023, 42 hedge funds in Insider Monkey’s database held stakes in Altria Group, Inc. (NYSE:MO), up from 40 in the previous quarter. These stakes are worth over $1.08 billion.

You can also take a look at 13 Best Stocks To Buy and Hold Forever and Citrone’s Top 15 Stock Picks