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.”

9. Exxon Mobil Corporation (NYSE:XOM)

Dividend Yield as of November 14: 3.21%

An American natural gas company, Exxon Mobil Corporation (NYSE:XOM) announced a 3% hike in its quarterly dividend on October 28. This took the company’s dividend growth streak to 40 years. It currently offers a quarterly dividend of $0.91 per share for a dividend yield of 3.21%, as recorded on November 14.

Exxon Mobil Corporation (NYSE:XOM) has reported a strong cash position over the years, which has gained strength in the recent quarter due to growing oil prices. The company’s operating cash flow in Q3 2022 came in at $24.4 billion and its free cash flow was recorded at $22 billion. It paid $8.2 billion to shareholders during the quarter, including $3.7 billion in dividends, which makes it one of the best dividend stocks to buy.

Appreciating the company’s strong Q3 results and growth across all sectors, Piper Sandler raised its price target on Exxon Mobil Corporation (NYSE:XOM) to $131 in November with an Overweight rating on the shares.

At the end of Q2 2022, 72 hedge funds tracked by Insider Monkey owned stakes in Exxon Mobil Corporation (NYSE:XOM), compared with 83 in the previous quarter. The collective value of these stakes is over $7.4 billion.

First Eagle Investments mentioned Exxon Mobil Corporation (NYSE:XOM) in its Q2 2022 investor letter. Here is what the firm has to say:

“Integrated oil and gas giant Exxon Mobil performed well in the second quarter as continued high prices for energy products supported the stock. As the largest refiner in the US, the company has benefitted from wide “crack spreads,” or the margin between the cost of crude oil and the petroleum products extracted from it. Exxon continues to invest in refining capacity in the US, which industrywide has been in steady decline since 2019. We are pleased that Exxon has been using its strong cash flows to reduce debt and to return cash to shareholders through dividends and stock repurchases.”

8. Medtronic plc (NYSE:MDT)

Dividend Yield as of November 14: 3.26%

Medtronic plc (NYSE:MDT) is an American medical device company, headquartered in Ireland. The company was a part of 54 hedge fund portfolios in Q2 2022, the same as in the previous quarter. The stakes owned by these hedge funds have a total value of over $2.48 billion. Some of Wall Street’s biggest names owned stakes in the company in Q2, including Ric Dillon and Ken Fisher.

Medtronic plc (NYSE:MDT) pays a quarterly dividend of $0.68 per share for a dividend yield of 3.26%, as of November 14. The company’s dividend growth streak stands at 45 years.

Barclays highlighted the strong fundamentals of Medtronic plc (NYSE:MDT) and initiated its coverage on the stock in October with an Equal Weight rating and a $90 price target.

Artisan Partners mentioned Medtronic plc (NYSE:MDT) in its Q2 2022 investor letter. Here is what the firm has to say:

“While Medtronic plc (NYSE:MDT)’s procedure volumes recovered to pre-COVID levels, foreign exchange headwinds overshadowed underlying business value growth, and supply chain issues, including those related to China’s lockdowns, impacted the surgical innovations business. The downdraft in the market during the quarter led to a pile-on. We are being patient with our investment in Medtronic because the company continues to be a strong free cash flow generator and is attractively priced, with a FCF yield of 5% on trailing one-year numbers and a dividend yield of 3%. Medtronic is under new management that is focused on growing the company’s top line, reinvesting in R&D, returning cash to shareholders and growing operating profits. We like new management’s strategy and believe new product launches, increased surgery visits, sound M&A transactions and a shareholder returns focus, should reinvigorate the business. We added to our positions in these health care names during the quarter.”

7. T. Rowe Price Group, Inc. (NASDAQ:TROW)

Dividend Yield as of November 14: 3.60%

T. Rowe Price Group, Inc. (NASDAQ:TROW) is an American investment management firm that offers financial and other investment-centric services to its consumers. In October, the company reported growth in its assets under management to $1.28 trillion, from $1.23 trillion at the end of September. During Q3 2022, it returned $500.9 million to shareholders, including $224.5 million in dividends, which makes it one of the best dividend stocks.

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been raising its dividends consistently for the past 36 years. It currently pays a quarterly dividend of $1.20 per share and has a dividend yield of 3.60%, as of November 14.

As of the close of Q2 2022, 27 hedge funds tracked by Insider Monkey reported owning stakes in T. Rowe Price Group, Inc. (NASDAQ:TROW), compared with 33 in the previous quarter. These stakes have a collective value of over $262.1 million.

6. Essex Property Trust, Inc. (NYSE:ESS)

Dividend Yield as of November 14: 4.14%

Essex Property Trust, Inc. (NYSE:ESS) is a California-based real estate investment trust company that invests in apartment buildings. In October, Stifel maintained a Buy rating on the stock with a $291 price target. The firm mentioned that the company can benefit due to growth in rentals but also expressed concerns regarding the current market condition.

In Q3 2022, Essex Property Trust, Inc. (NYSE:ESS) reported year-over-year growth in same-property revenues and net income by 11.4% and 15.4%, respectively. During the quarter, the company also repurchased shares worth over $97.6 million under its ongoing stock repurchase program.

Essex Property Trust, Inc. (NYSE:ESS), one of the best dividend stocks, currently pays a quarterly dividend of $2.20 per share. It has been raising its dividends consistently for the past 28 years. As of November 14, the stock has a dividend yield of 4.14%.

The number of hedge funds tracked by Insider Monkey owning stakes in Essex Property Trust, Inc. (NYSE:ESS) grew to 34 in Q2 2022, from 26 in the previous quarter. These stakes have a total value of over $477.8 million.

5. Amcor plc (NYSE:AMCR)

Dividend Yield as of November 14: 4.19%

Amcor plc (NYSE:AMCR) is an American multinational packaging company that specializes in flexible packaging. In fiscal Q1 2023, the company reported an 8.5% year-over-year growth in its revenue at $3.71 billion. The company generated an adjusted free cash flow of $400 million and paid $181 million in dividends to shareholders, which shows that its cash flow is sufficient to cover its dividends.

On November 1, Amcor plc (NYSE:AMCR) declared a 2.1% growth in its quarterly dividend to $0.1225 per share. This was the company’s 39th consecutive year of dividend growth. The stock’s dividend yield on November 14 came in at 4.19%.

BofA called the Packaging industry the cheap group in the current market and double upgraded Amcor plc (NYSE:AMCR) to Buy in October with a $13 price target.

As of the close of Q2 2022, 20 hedge funds tracked by Insider Monkey owned stakes in Amcor plc (NYSE:AMCR), the same as in the previous quarter. The collective value of these stakes is over $252.4 million.

4. Franklin Resources, Inc. (NYSE:BEN)

Dividend Yield as of November 14: 4.24%

An American multinational holding company, Franklin Resources, Inc. (NYSE:BEN) reported $1.3 trillion in assets under management in October, up from $1.29 trillion in the previous month. At the end of the fiscal year 2022, the company had $6.8 billion available in cash and investments. It also paid $773 million to shareholders in dividends and share repurchases, which makes it one of the best dividend stocks.

Franklin Resources, Inc. (NYSE:BEN) maintains a 42-year streak of consistent dividend growth. The company pays a quarterly dividend of $0.29 per share for a dividend yield of 4.24%, as of November 14.

In October, Credit Suisse appreciated the company’s focus on growth across all its sectors and its improving fundamentals in the current financial volatility. Given this, the firm initiated its coverage of the stock with a Neutral rating.

As of the close of Q2 2022, 24 hedge funds in Insider Monkey’s database owned investments in Franklin Resources, Inc. (NYSE:BEN), with a total value of over $217.2 million. Among these hedge funds, AQR Capital Management was the company’s leading stakeholder in Q2.

3. Realty Income Corporation (NYSE:O)

Dividend Yield as of November 14: 4.58%

Realty Income Corporation (NYSE:O) is another best dividend stock on our list as it pays monthly dividends to shareholders. The real estate investment trust has paid regular dividends to shareholders for the past 100 quarters and has raised its payouts consistently for the past 28 years. It currently pays a monthly dividend of $0.248 per share and has a dividend yield of 4.58%, as of November 14.

In October, Raymond James maintained an Outperform rating on Realty Income Corporation (NYSE:O) with a $68 price target. The firm sees the company as a strong risk/reward play within the net lease.

At the end of Q2 2022, 19 hedge funds tracked by Insider Monkey owned stakes in Realty Income Corporation (NYSE:O), down from 22 in the previous quarter. These stakes are collectively valued at over $200.7 million.

2. International Business Machines Corporation (NYSE:IBM)

Dividend Yield as of November 14: 4.62%

International Business Machines Corporation (NYSE:IBM) is a New York-based tech company that provides a wide range of tech services to its consumers. In the first nine months of the year, the company reported an operating cash flow of $6.5 billion and its free cash flow amounted to $4.1 billion. The company remained committed to its shareholder obligation in Q3 2022, returning $1.5 billion to stakeholders through dividends.

International Business Machines Corporation (NYSE:IBM) is one of the best dividend stocks on our list as it has been making regular dividend payments since 1916. Moreover, the company has achieved a 27-year dividend growth streak. It pays a quarterly dividend of $1.65 per share and has a dividend yield of 4.62%, as of November 14.

Morgan Stanley maintained an Overweight rating on International Business Machines Corporation (NYSE:IBM) in October with a $152 price target, highlighting the company’s balance sheet and its growing revenue.

According to Insider Monkey’s database, 40 hedge funds owned stakes in International Business Machines Corporation (NYSE:IBM) in Q2 2022, compared with 43 in the previous quarter. These stakes have a total value of over $948.3 million.

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

Dividend Yield as of November 14: 4.70%

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) is an American multinational pharmacy retail company. In November, Deutsche Bank upgraded the stock to Buy with a $50 price target, appreciating the company’s ability to execute its care delivery strategy. The firm further mentioned that this step would lead the company toward multiple expansions and positive revisions.

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) maintains a 41-year streak of dividend growth, which makes it one of the best dividend stocks on our list. It currently pays a quarterly dividend of $0.48 per share for a dividend yield of 4.70%, as of November 14.

As per Insider Monkey’s database, 40 funds owned stakes in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) in Q2 2022, compared with 38 in the previous quarter. These stakes have a total value of roughly $600 million. Camber Capital Management was one of the company’s leading stakeholders in Q2.

You can also take a look at Dividend Kings List by Yield: Top 25 Stocks and 13 Best Consumer Staples Dividend Stocks to Buy Now

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