In this article, we discuss top 10 Dividend Aristocrats by yield. If you want to read our detailed analysis of dividend stocks and their performance over the years, go directly to read Dividend Aristocrats List by Yield: Top 25 Stocks.
10. Chevron Corporation (NYSE:CVX)
Dividend Yield as of November 14: 3.05%
Chevron Corporation (NYSE:CVX) is a California-based energy industry company that specializes in the exploration of oil and natural gas. In November, Piper Sandler raised its price target on the stock to $206 with an Overweight rating on the shares, appreciating the company’s recent quarterly earnings.
In the third quarter of 2022, Chevron Corporation (NYSE:CVX) reported strong cash generation. The company’s operating cash flow came in at $15.3 billion and its free cash flow amounted to $12.3 billion. It also paid $6.5 billion to shareholders during the quarter, $2.7 billion of which represented dividend payments.
Chevron Corporation (NYSE:CVX) currently offers a quarterly dividend of $1.42 per share. The company is added to our list of the best dividend stocks as it has been raising its dividends consistently for the past 35 years. As of November 14, the stock has a dividend yield of 3.05%.
At the end of the June quarter, the number of hedge funds tracked by Insider Monkey owning stakes in Chevron Corporation (NYSE:CVX) grew to 59, from 53 in the previous quarter. The collective value of these stakes is over $26 billion. Berkshire Hathaway was the leading stakeholder of the company in Q2.
Diamond Hill Capital mentioned Chevron Corporation (NYSE:CVX) in its Q1 2022 investor letter. Here is what the firm had to say:
“Other top contributors in Q1 included multinational energy company Chevron Corp. (NYSE:CVX). The company benefited from increased energy demand as COVID-related economic restrictions eased in tandem with concerns regarding supply interruptions related to Russia’s invasion of Ukraine.”