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Philip van Doorn

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May 31, 2022, 3:49 p.m. EDT

Dividend stocks have trounced the market this year. Here are 15 high-yield stocks expected to raise payouts the most through 2024

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By Philip van Doorn

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  • Welltower Inc. /zigman2/quotes/200485564/composite WELL +1.46% lowered its dividend by 30% in August 2020.

  • Ventas Inc. /zigman2/quotes/206376229/composite VTR +1.61% reduced its dividend by 43% in August 2020.

Highest current dividend yields

These 15 companies in the S&P High Yield Dividend Index have the highest dividend yields. From the consensus estimates for payouts through 2024, two are expected to cut their dividends:

Company Ticker Current dividend yield Current annual dividend rate Estimated dividend – 2023 Estimated dividend – 2024 Two-year  estimated dividend increase
Lumen Technologies, Inc. /zigman2/quotes/200067545/composite LUMN 8.42% $1.00 $0.88 $0.91 -10.3%
Altria Group Inc. /zigman2/quotes/208895754/composite MO 6.80% $3.60 $3.98 $4.25 15.3%
Simon Property Group Inc. /zigman2/quotes/209746667/composite SPG 6.31% $6.80 $7.14 $7.48 9.0%
Vornado Realty Trust /zigman2/quotes/207195881/composite VNO 6.25% $2.12 $2.27 $2.30 8.0%
ONEOK Inc. /zigman2/quotes/205201756/composite OKE 5.87% $3.74 $3.82 $3.94 5.0%
Kinder Morgan Inc. Class P /zigman2/quotes/208455654/composite KMI 5.80% $1.11 $1.15 $1.20 7.2%
AT&T Inc. T-US 5.25% $1.11 $1.11 $1.07 -3.5%
Verizon Communications Inc. /zigman2/quotes/204980236/composite VZ 5.05% $2.56 $2.64 $2.70 5.0%
International Business Machines Corp. /zigman2/quotes/203856914/composite IBM 4.93% $6.60 $7.03 $7.13 7.5%
Newell Brands Inc. /zigman2/quotes/209507510/composite NWL 4.89% $0.92 $0.92 $0.93 0.7%
Iron Mountain Inc. /zigman2/quotes/208929343/composite IRM 4.82% $2.47 $2.55 $2.64 6.1%
Prudential Financial Inc. /zigman2/quotes/203750923/composite PRU 4.76% $4.80 $5.10 $5.45 11.9%
Williams Cos. Inc. /zigman2/quotes/205467183/composite WMB 4.69% $1.70 $1.78 $1.86 8.7%
Philip Morris International Inc. /zigman2/quotes/201611010/composite PM 4.69% $5.00 $5.26 $5.45 8.2%
Huntington Bancshares Inc. /zigman2/quotes/209314988/composite HBAN 4.62% $0.62 $0.67 $0.73 15.4%
Source: MarketWatch

So two of the highest-yielding stocks in the S&P 500 High Yield Index are expected to lower payouts. Over the past five years, these companies have lowered their dividends:

  • Lumen Technologies, under its previous name, CenturyLink, cut its dividend by 54% in February 2019.

  • Simon Property Group Inc. /zigman2/quotes/209746667/composite SPG +2.05% lowered its dividend by 38% in June 2020.

  • Vornado Realty Trust /zigman2/quotes/207195881/composite VNO +2.01% most recently cut its payout in June 2020, by 19%.

  • AT&T Inc. /zigman2/quotes/203165245/composite T -1.77% cut its dividend by 47% in March, in connection with its spinoff of WarnerMedia.

Don’t miss: Which of Buffett’s bank stocks might make you the most money?

/zigman2/quotes/200485564/composite
US : U.S.: NYSE
$ 81.86
+1.18 +1.46%
Volume: 1.14M
Aug. 8, 2022 3:22p
P/E Ratio
287.79
Dividend Yield
2.98%
Market Cap
$36.63 billion
Rev. per Employee
$10.95M
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/zigman2/quotes/206376229/composite
US : U.S.: NYSE
$ 49.74
+0.79 +1.61%
Volume: 949,637
Aug. 8, 2022 3:22p
P/E Ratio
1,080
Dividend Yield
3.62%
Market Cap
$20.12 billion
Rev. per Employee
$9.31M
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/zigman2/quotes/200067545/composite
US : U.S.: NYSE
$ 10.96
+0.28 +2.57%
Volume: 7.09M
Aug. 8, 2022 3:22p
P/E Ratio
5.67
Dividend Yield
9.11%
Market Cap
$11.03 billion
Rev. per Employee
$528,389
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/zigman2/quotes/208895754/composite
US : U.S.: NYSE
$ 44.27
+0.16 +0.37%
Volume: 2.84M
Aug. 8, 2022 3:22p
P/E Ratio
45.53
Dividend Yield
8.13%
Market Cap
$79.85 billion
Rev. per Employee
$3.47M
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/zigman2/quotes/209746667/composite
US : U.S.: NYSE
$ 108.68
+2.18 +2.05%
Volume: 1.17M
Aug. 8, 2022 3:22p
P/E Ratio
17.29
Dividend Yield
6.45%
Market Cap
$40.04 billion
Rev. per Employee
$1.58M
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/zigman2/quotes/207195881/composite
US : U.S.: NYSE
$ 28.22
+0.56 +2.01%
Volume: 1.31M
Aug. 8, 2022 3:22p
P/E Ratio
43.20
Dividend Yield
7.51%
Market Cap
$5.70 billion
Rev. per Employee
$535,334
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/zigman2/quotes/205201756/composite
US : U.S.: NYSE
$ 59.39
+0.84 +1.43%
Volume: 1.83M
Aug. 8, 2022 3:22p
P/E Ratio
17.68
Dividend Yield
6.30%
Market Cap
$26.15 billion
Rev. per Employee
$6.89M
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/zigman2/quotes/208455654/composite
US : U.S.: NYSE
$ 17.72
+0.25 +1.40%
Volume: 9.42M
Aug. 8, 2022 3:22p
P/E Ratio
16.58
Dividend Yield
6.27%
Market Cap
$39.36 billion
Rev. per Employee
$1.78M
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/zigman2/quotes/204980236/composite
US : U.S.: NYSE
$ 44.36
-0.59 -1.32%
Volume: 12.96M
Aug. 8, 2022 3:22p
P/E Ratio
8.93
Dividend Yield
5.76%
Market Cap
$188.78 billion
Rev. per Employee
$1.13M
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/zigman2/quotes/203856914/composite
US : U.S.: NYSE
$ 132.64
+0.16 +0.12%
Volume: 2.49M
Aug. 8, 2022 3:22p
P/E Ratio
21.55
Dividend Yield
4.98%
Market Cap
$119.65 billion
Rev. per Employee
$208,205
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/zigman2/quotes/209507510/composite
US : U.S.: Nasdaq
$ 20.26
+0.33 +1.68%
Volume: 1.29M
Aug. 8, 2022 3:22p
P/E Ratio
11.84
Dividend Yield
4.54%
Market Cap
$8.24 billion
Rev. per Employee
$328,562
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/zigman2/quotes/208929343/composite
US : U.S.: NYSE
$ 54.11
+1.81 +3.46%
Volume: 1.15M
Aug. 8, 2022 3:22p
P/E Ratio
42.45
Dividend Yield
4.58%
Market Cap
$15.20 billion
Rev. per Employee
$193,093
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/zigman2/quotes/203750923/composite
US : U.S.: NYSE
$ 97.30
+0.78 +0.81%
Volume: 923,983
Aug. 8, 2022 3:22p
P/E Ratio
18.05
Dividend Yield
4.93%
Market Cap
$36.19 billion
Rev. per Employee
$1.57M
loading...
/zigman2/quotes/205467183/composite
US : U.S.: NYSE
$ 32.43
+0.20 +0.64%
Volume: 2.86M
Aug. 8, 2022 3:22p
P/E Ratio
25.26
Dividend Yield
5.24%
Market Cap
$39.24 billion
Rev. per Employee
$2.24M
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/zigman2/quotes/201611010/composite
US : U.S.: NYSE
$ 97.47
-0.13 -0.14%
Volume: 1.21M
Aug. 8, 2022 3:22p
P/E Ratio
16.76
Dividend Yield
5.12%
Market Cap
$151.30 billion
Rev. per Employee
$455,187
loading...
/zigman2/quotes/209314988/composite
US : U.S.: Nasdaq
$ 13.45
-0.0050 -0.04%
Volume: 6.30M
Aug. 8, 2022 3:22p
P/E Ratio
11.96
Dividend Yield
4.61%
Market Cap
$19.40 billion
Rev. per Employee
N/A
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/zigman2/quotes/209746667/composite
US : U.S.: NYSE
$ 108.68
+2.18 +2.05%
Volume: 1.17M
Aug. 8, 2022 3:22p
P/E Ratio
17.29
Dividend Yield
6.45%
Market Cap
$40.04 billion
Rev. per Employee
$1.58M
loading...
/zigman2/quotes/207195881/composite
US : U.S.: NYSE
$ 28.22
+0.56 +2.01%
Volume: 1.31M
Aug. 8, 2022 3:22p
P/E Ratio
43.20
Dividend Yield
7.51%
Market Cap
$5.70 billion
Rev. per Employee
$535,334
loading...
/zigman2/quotes/203165245/composite
US : U.S.: NYSE
$ 18.03
-0.33 -1.77%
Volume: 32.98M
Aug. 8, 2022 3:22p
P/E Ratio
6.65
Dividend Yield
6.15%
Market Cap
$131.37 billion
Rev. per Employee
$732,158
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