Dividend Contenders List Ranked By Yield: Top 10

In this article, we discuss top 10 dividend contenders according to yields. If you want to read our detailed analysis of dividend stocks and their previous performance, go directly to read Dividend Contenders List Ranked By Yield: Top 25. 

10. Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Dividend Yield as of December 23: 5.05%

An American bank holding company, Sandy Spring Bancorp, Inc. (NASDAQ:SASR) is next on our dividend contenders list. The company pays a quarterly dividend of $0.34 per share and has a dividend yield of 5.05%, as of December 23. It maintains a 12-year streak of consistent dividend growth.

The number of hedge funds in Insider Monkey’s database owning stakes in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) grew to 12 in Q3 2023, from 8 in the previous quarter. The consolidated value of these stakes is more than $32 million.

9. Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Dividend Yield as of December 23: 5.10%

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) is a Washington-based internet service provider company that offers its services primarily to small and medium-sized businesses. The company pays a quarterly dividend of $0.955 per share, growing it by 1.1% in November this year. This was the company’s 12th consecutive year of dividend growth, which makes it one of the best stocks on our dividend contenders list. The stock has a dividend yield of 5.10%, as of December 23.

As of the end of Q3 2023, 20 hedge funds tracked by Insider Monkey reported having stakes in Cogent Communications Holdings, Inc. (NASDAQ:CCOI), up from 18 in the preceding quarter. The total value of these stakes is over $201.3 million.

8. Avista Corporation (NYSE:AVA)

Dividend Yield as of December 23: 5.11%

An American energy company, Avista Corporation (NYSE:AVA) is next on our dividend contenders list. The company pays a quarterly dividend of $0.46 per share and has been growing its dividends for the past 21 years. As of December 23, the stock has a dividend yield of 5.11%.

According to Insider Monkey’s database of Q3 2023, 15 hedge funds owned stakes in Avista Corporation (NYSE:AVA), up from 10 in the previous quarter. The collective value of these stakes is more than $32.3 million. Among these hedge funds, Citadel Investment Group was the company’s leading stakeholder in Q3.

7. LyondellBasell Industries N.V. (NYSE:LYB)

Dividend Yield as of December 23: 5.21%

LyondellBasell Industries N.V. (NYSE:LYB) is a multinational chemical company engaged in the production of a wide array of chemicals, plastics, and refining products. The company pays a quarterly dividend of $1.25 per share, growing it by 5% in May this year. This marked the company’s 13th consecutive year of dividend growth, which places LYB on our dividend contenders list. The stock has a dividend yield of 5.21%, as of December 23.

At the end of Q3 2023, 36 hedge funds in Insider Monkey’s database owned stakes in LyondellBasell Industries N.V. (NYSE:LYB), which remained the same as in the previous quarter. The consolidated value of these stakes is over $687 million.

6. Philip Morris International Inc. (NYSE:PM)

Dividend Yield as of December 23: 5.60%

Philip Morris International Inc. (NYSE:PM) is next on our dividend contenders list. The tobacco manufacturer has raised its payouts for 14 years in a row and it currently offers a quarterly dividend of $1.30 per share. The stock comes with a dividend yield of 5.60%, as of December 23.

At the end of September 2023, 62 hedge funds tracked by Insider Monkey reported having stakes in ConocoPhillips (NYSE:COP), the same as in the previous quarter. The collective value of these stakes is more than $3.68 billion.

5. Financial Institutions, Inc. (NASDAQ:FISI)

Dividend Yield as of December 23: 5.62%

Financial Institutions, Inc. (NASDAQ:FISI) is a bank holding company that provides a range of banking and financial services to individuals, businesses, and municipalities primarily in Western and Central New York. The company has been raising its dividends for the past 13 years and offers a quarterly dividend of $0.30 per share. The stock’s dividend yield on December 23 came in at 5.62%.

As of the close of Q3 2023, 9 hedge funds in Insider Monkey’s database reported having stakes in Financial Institutions, Inc. (NASDAQ:FISI), which remained unchanged from the previous quarter. The collective value of these stakes is over $6.1 million.

4. KeyCorp (NYSE:KEY)

Dividend Yield as of December 23: 5.74%

An American bank holding company, KeyCorp (NYSE:KEY) is next on our dividend contenders list. The company’s dividend growth streak spans over 12 years and it offers a quarterly dividend of $0.205 per share. As of December 23, the stock has a dividend yield of 5.74%.

According to Insider Monkey’s database of Q3 2023, 42 hedge funds owned stakes in KeyCorp (NYSE:KEY), compared with 49 in the previous quarter. The consolidated value of these stakes is roughly $650 million. Among these hedge funds, Citadel Investment Group was the company’s leading stakeholder in Q3.

3. Verizon Communications Inc. (NYSE:VZ)

Dividend Yield as of December 23: 7.10%

Verizon Communications Inc. (NYSE:VZ) is an American multinational telecommunications company. It has raised its dividend payouts for 17 consecutive years and offers a quarterly dividend of $0.665 per share. As of December 23, the stock has a dividend yield of 7.10%.

As per Insider Monkey’s database of Q3 2023, 61 hedge funds owned stakes in Verizon Communications Inc. (NYSE:VZ), growing from 53 in the previous quarter. These stakes are collectively valued at nearly $1.4 billion.

2. Delek Logistics Partners, LP (NYSE:DKL)

Dividend Yield as of December 23: 9.81%

Delek Logistics Partners, LP (NYSE:DKL) is a company primarily engaged in owning, operating, acquiring, and constructing logistics and marketing assets for crude oil and refined products. The company has been growing its dividends for 43 consecutive quarters, which makes DKL one of the best stocks on our dividend contenders list. It currently pays a quarterly dividend of $1.045 per share and has a dividend yield of 9.81%, as of December 23.

As of the end of September 2023, Ken Griffin’s Citadel Investment Group was the only stakeholder of Delek Logistics Partners, LP (NYSE:DKL), owning stakes worth $106,100.

1. Arbor Realty Trust, Inc. (NYSE:ABR)

Dividend Yield as of December 23: 10.91%

Arbor Realty Trust, Inc. (NYSE:ABR) tops our dividend contenders list. The real estate investment trust company has been growing its dividends for the past 11 years and offers a quarterly dividend of $0.43 per share. As of December 23, the stock has a dividend yield of 10.91%.

At the end of Q3 2023, 13 hedge funds owned stakes in Arbor Realty Trust, Inc. (NYSE:ABR), up from 12 in the previous quarter, according to Insider Monkey’s database. The overall value of these stakes is over $64.7 million.

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