Dividend Capture Strategy: 5 High Yield Stocks To Buy in November

In this article, we discuss dividend capture strategy and high yield stocks to buy in November. If you want to read our detailed analysis of the dividend capture approach and the performance of dividend stocks, go directly to read Dividend Capture Strategy: 10 High Yield Stocks To Buy in November. 

5. Duke Energy Corporation (NYSE:DUK)

Ex-Dividend Date: November 16
Dividend Yield as of October 24: 4.69%

Duke Energy Corporation (NYSE:DUK) is an American electric power holding company that serves millions of customers in various states. The company currently pays a quarterly dividend of $1.025 per share and has a dividend yield of 4.69%, as of October 24. It has been making uninterrupted dividend payments to shareholders for the past 97 years. The stock will be trading ex-dividend on November 16.

At the end of Q2 2023, 39 hedge funds in Insider Monkey’s database reported having stakes in Duke Energy Corporation (NYSE:DUK), compared with 40 a quarter earlier. The consolidated value of these stakes is over $510.4 million.

4. The Southern Company (NYSE:SO)

Ex-Dividend Date: November 17
Dividend Yield as of October 24: 4.23%

The Southern Company (NYSE:SO) is a Georgia-based utility holding company. It is primarily involved in the generation, transmission, and distribution of electricity. The company has grown its dividend for 22 years in a row and currently pays a quarterly dividend of $0.70 per share. The stock’s dividend yield on October 22 came in at 4.23%.

The number of hedge funds tracked by Insider Monkey owning stakes in The Southern Company (NYSE:SO) grew to 32 in Q2 2023 in Q2 2023, from 25 in the previous quarter. The collective worth of these stakes is roughly $647 million. With over 2.2 million shares, Point72 Asset Management was the company’s leading stakeholder in Q2.

3. NextEra Energy, Inc. (NYSE:NEE)

Ex-Dividend Date: November 22
Dividend Yield as of October 24: 3.44%

An American renewable energy company, NextEra Energy, Inc. (NYSE:NEE) is next on our list of the best dividend stocks. The company’s dividend growth streak spans over 27 years. It pays a quarterly dividend of $0.4675 per share and offers a dividend yield of 3.44%, as recorded on October 24. The stock will be going ex-dividend on November 22.

NextEra Energy, Inc. (NYSE:NEE) was a part of 59 hedge fund portfolios, the same as in the previous quarter, as per Insider Monkey’s database. The collective value of stakes owned by these hedge funds is over $918.3 million.

2. Lockheed Martin Corporation (NYSE:LMT)

Ex-Dividend Date: November 30
Dividend Yield as of October 24: 3.12%

Lockheed Martin Corporation (NYSE:LMT) is a Maryland-based aerospace, defense, arms, security, and advanced technology company. On October 7, the company declared a 5% hike in its quarterly dividend to $3.15 per share. This marked the company’s 21st consecutive year of dividend growth, which makes it one of the best dividend stocks on our list. The stock has a dividend yield of 3.12%, as of October 24 and it will trade ex-dividend on November 30.

As of the end of the June quarter of 2023, 52 hedge funds in Insider Monkey’s database reported having stakes in Lockheed Martin Corporation (NYSE:LMT), worth collectively roughly $2 billion.

1. Bank of America Corporation (NYSE:BAC)

Ex-Dividend Date: November 30
Dividend Yield as of October 24: 3.72%

Bank of America Corporation (NYSE:BAC) tops our list of the best dividend stocks. The American financial services company will be going ex-dividend on November 30. The company has a 24-year run of making regular payouts to shareholders and it currently pays a quarterly dividend of $0.24 per share. As of October 24, the stock has a dividend yield of 3.72%.

As of the end of Q2 2023, 90 hedge funds in Insider Monkey’s database owned investments in Bank of America Corporation (NYSE:BAC), compared with 91 in the previous quarter. The collective value of these stakes is more than $31.7 billion.

You can also take a look at 12 Defensive Healthcare Dividend Stocks To Invest In and 20 Highest Paying Countries for Doctors

Follow Insider Monkey on Twitter