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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 -1.81% lowered its dividend by 30% in August 2020.

  • Ventas Inc. /zigman2/quotes/206376229/composite VTR -3.01% 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 +0.03% lowered its dividend by 38% in June 2020.

  • Vornado Realty Trust /zigman2/quotes/207195881/composite VNO -0.17% most recently cut its payout in June 2020, by 19%.

  • AT&T Inc. /zigman2/quotes/203165245/composite T +0.35% 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
$ 80.10
-1.47 -1.81%
Volume: 1.54M
Aug. 18, 2022 3:22p
P/E Ratio
149.51
Dividend Yield
3.05%
Market Cap
$37.03 billion
Rev. per Employee
$11.66M
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/zigman2/quotes/206376229/composite
US : U.S.: NYSE
$ 48.99
-1.52 -3.01%
Volume: 1.51M
Aug. 18, 2022 3:22p
P/E Ratio
1,066
Dividend Yield
3.67%
Market Cap
$20.77 billion
Rev. per Employee
$9.31M
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/zigman2/quotes/200067545/composite
US : U.S.: NYSE
$ 11.06
-0.0050 -0.05%
Volume: 5.52M
Aug. 18, 2022 3:22p
P/E Ratio
5.70
Dividend Yield
9.05%
Market Cap
$11.45 billion
Rev. per Employee
$528,389
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/zigman2/quotes/208895754/composite
US : U.S.: NYSE
$ 45.55
+0.09 +0.21%
Volume: 2.54M
Aug. 18, 2022 3:22p
P/E Ratio
46.80
Dividend Yield
7.91%
Market Cap
$81.85 billion
Rev. per Employee
$3.47M
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/zigman2/quotes/209746667/composite
US : U.S.: NYSE
$ 112.87
+0.03 +0.03%
Volume: 644,559
Aug. 18, 2022 3:22p
P/E Ratio
17.95
Dividend Yield
6.21%
Market Cap
$42.42 billion
Rev. per Employee
$1.58M
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/zigman2/quotes/207195881/composite
US : U.S.: NYSE
$ 29.49
-0.05 -0.17%
Volume: 674,481
Aug. 18, 2022 3:20p
P/E Ratio
45.20
Dividend Yield
7.18%
Market Cap
$6.09 billion
Rev. per Employee
$535,334
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/zigman2/quotes/205201756/composite
US : U.S.: NYSE
$ 64.08
+1.11 +1.77%
Volume: 948,938
Aug. 18, 2022 3:22p
P/E Ratio
18.21
Dividend Yield
5.84%
Market Cap
$28.12 billion
Rev. per Employee
$7.86M
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/zigman2/quotes/208455654/composite
US : U.S.: NYSE
$ 18.84
+0.27 +1.45%
Volume: 7.27M
Aug. 18, 2022 3:22p
P/E Ratio
17.67
Dividend Yield
5.88%
Market Cap
$41.84 billion
Rev. per Employee
$1.78M
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/zigman2/quotes/204980236/composite
US : U.S.: NYSE
$ 44.21
-1.14 -2.50%
Volume: 19.35M
Aug. 18, 2022 3:22p
P/E Ratio
8.87
Dividend Yield
5.79%
Market Cap
$190.42 billion
Rev. per Employee
$1.13M
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/zigman2/quotes/203856914/composite
US : U.S.: NYSE
$ 138.79
+1.00 +0.73%
Volume: 2.06M
Aug. 18, 2022 3:22p
P/E Ratio
22.53
Dividend Yield
4.76%
Market Cap
$124.45 billion
Rev. per Employee
$208,205
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/zigman2/quotes/209507510/composite
US : U.S.: Nasdaq
$ 21.06
-0.04 -0.19%
Volume: 632,755
Aug. 18, 2022 3:22p
P/E Ratio
12.32
Dividend Yield
4.37%
Market Cap
$8.73 billion
Rev. per Employee
$328,562
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/zigman2/quotes/208929343/composite
US : U.S.: NYSE
$ 54.82
-0.12 -0.22%
Volume: 651,664
Aug. 18, 2022 3:22p
P/E Ratio
43.04
Dividend Yield
4.52%
Market Cap
$15.97 billion
Rev. per Employee
$193,093
loading...
/zigman2/quotes/203750923/composite
US : U.S.: NYSE
$ 105.22
+0.65 +0.62%
Volume: 664,049
Aug. 18, 2022 3:22p
P/E Ratio
19.47
Dividend Yield
4.57%
Market Cap
$39.21 billion
Rev. per Employee
$1.57M
loading...
/zigman2/quotes/205467183/composite
US : U.S.: NYSE
$ 35.28
+0.98 +2.86%
Volume: 6.09M
Aug. 18, 2022 3:22p
P/E Ratio
27.52
Dividend Yield
4.81%
Market Cap
$41.80 billion
Rev. per Employee
$2.24M
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/zigman2/quotes/201611010/composite
US : U.S.: NYSE
$ 100.55
-0.62 -0.61%
Volume: 1.04M
Aug. 18, 2022 3:22p
P/E Ratio
17.24
Dividend Yield
4.98%
Market Cap
$156.83 billion
Rev. per Employee
$455,187
loading...
/zigman2/quotes/209314988/composite
US : U.S.: Nasdaq
$ 14.31
-0.02 -0.14%
Volume: 5.52M
Aug. 18, 2022 3:22p
P/E Ratio
12.72
Dividend Yield
4.33%
Market Cap
$20.67 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209746667/composite
US : U.S.: NYSE
$ 112.87
+0.03 +0.03%
Volume: 644,559
Aug. 18, 2022 3:22p
P/E Ratio
17.95
Dividend Yield
6.21%
Market Cap
$42.42 billion
Rev. per Employee
$1.58M
loading...
/zigman2/quotes/207195881/composite
US : U.S.: NYSE
$ 29.49
-0.05 -0.17%
Volume: 674,481
Aug. 18, 2022 3:20p
P/E Ratio
45.20
Dividend Yield
7.18%
Market Cap
$6.09 billion
Rev. per Employee
$535,334
loading...
/zigman2/quotes/203165245/composite
US : U.S.: NYSE
$ 18.49
+0.06 +0.35%
Volume: 24.15M
Aug. 18, 2022 3:22p
P/E Ratio
6.82
Dividend Yield
6.00%
Market Cap
$131.26 billion
Rev. per Employee
$732,158
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