Top 10 Dividend Stocks

9. Aflac Incorporated (NYSE:AFL)

Dividend Yield as of July 25: 2.89%

Aflac Incorporated (NYSE:AFL) is a Georgia-based insurance company that also provides supplemental insurance in the US.

Aflac Incorporated (NYSE:AFL) reported strong earnings in Q1 2022, with cash and total investments of $132.6 million. The company also spent over $500 million on repurchasing 8 million of its common shares. It currently pays a quarterly dividend of $0.40 per share, with a yield of 2.89%, as of the close of 25. Aflac Incorporated (NYSE:AFL) has been raising its dividends consecutively for the past 39 years. Its dividends are well covered with a safe payout ratio of 22.7%.

According to JPMorgan, the insurance sector is most likely to benefit from higher interest rates and declining Covid cases. In view of this, the firm raised its price target on the stock in July to $62 with a Neutral rating on the shares.

At the end of March 2022, 32 hedge funds reported owning stakes in Aflac Incorporated (NYSE:AFL), up from 31 in the previous quarter. The collective value of these stakes is over $377.6 million.