![\"tipranks\"](\"https://tr-cdn.tipranks.com/static/v2/static/images/logo/tipranks/black-trust.svg\"){kind=logo}
![\"tipranks\"](\"https://tr-cdn.tipranks.com/static/v2/static/images/logo/tipranks/tipranks_small.svg\"){kind=logo}
![\"\"/](\"https://tr-cdn.tipranks.com/static/v2/static/images/logo/youtube/logo.svg\"){kind=logo}
![\"\"/](\"https://tr-cdn.tipranks.com/static/v2/static/images/logo/twitter/smallNew.svg\"){kind=logo}
![\"\"/](\"https://tr-cdn.tipranks.com/static/v2/static/images/logo/stocktwits/stocktwits.svg\"){kind=logo}
![\"\"/](\"https://tr-cdn.tipranks.com/static/v2/static/images/logo/facebook/small.svg\"){kind=logo}
![\"\"/](\"https://tr-cdn.tipranks.com/static/v2/static/images/logo/instagram/instagram.svg\"){kind=logo}
![\"\"/](\"https://tr-cdn.tipranks.com/static/v2/static/images/logo/linkedin/small.svg\"){kind=logo}
![\"MO\"/](\"https://tr-cdn.tipranks.com/static/v2/static/logos/MO.svg\")
![\"T\"/](\"https://tr-cdn.tipranks.com/static/v2/static/logos/T.svg\")
![\"XRX\"/](\"https://tr-cdn.tipranks.com/static/v2/static/logos/XRX.svg\")
![\"IBM\"/](\"https://tr-cdn.tipranks.com/static/v2/static/logos/IBM.svg\")
![\"CVX\"/](\"https://tr-cdn.tipranks.com/static/v2/static/logos/CVX.svg\")
![\"EOG\"/](\"https://tr-cdn.tipranks.com/static/v2/static/logos/EOG.svg\")
![\"ET\"/](\"https://tr-cdn.tipranks.com/static/v2/static/logos/ET.svg\")
![\"HESM\"/](\"https://tr-cdn.tipranks.com/static/v2/static/logos/HESM.svg\")
![\"ARCC\"/](\"https://tr-cdn.tipranks.com/static/v2/static/logos/ARCC.svg\")
![\"\"/](\"https://tr-cdn.tipranks.com/static/v2/static/images/content/app-calendars/dividendBanner.jpg\")
![\"AT&T](\"https://blog.tipranks.com/wp-content/uploads/2024/02/shutterstock_1581003847-1-150x150.jpg\")
![\"SPY](\"https://blog.tipranks.com/wp-content/uploads/2024/03/shutterstock_2262789649-3-150x150.jpg\")
![\"Hess](\"https://blog.tipranks.com/wp-content/uploads/2023/06/Energy-4-150x150.jpg\")
![\"Pascal](\"https://blog.tipranks.com/wp-content/uploads/2022/10/shutterstock_2172991903-150x150.jpg\")
![\"Hess](\"https://blog.tipranks.com/wp-content/uploads/2024/03/HESM-Image-150x150.jpg\")
![\"SPY](\"https://blog.tipranks.com/wp-content/uploads/2024/03/shutterstock_2095182958-2-150x150.jpg\")
![\"AT&T](\"https://blog.tipranks.com/wp-content/uploads/2023/06/Communication-Services-10-150x150.jpg\")
![\"Hess](\"https://blog.tipranks.com/wp-content/uploads/2023/06/Energy-1-150x150.jpg\")
![\"IBM](\"https://blog.tipranks.com/wp-content/uploads/2022/09/shutterstock_1814418305-150x150.jpg\")
![\"FCC](\"https://blog.tipranks.com/wp-content/uploads/2022/10/shutterstock_2172991901-150x150.jpg\")
![\"\"/](\"https://tr-cdn.tipranks.com/static/v2/static/images/icon/sun.svg\"){kind=icon}
![\"\"/](\"https://tr-cdn.tipranks.com/static/v2/static/images/icon/moon.svg\"){kind=icon}
![\"Michael](\"https://tr-cdn.tipranks.com/static/v2/static/images/icon/avatar.svg\"){kind=icon}
9 Highest Dividend-Paying Stocks in the S&P 500
Though sometimes troubled, all of the stocks on this list pay 6% or better.
![\"U.S.](\"https://www.usnews.com/static/img/usn-logo-large.svg\"){kind=logo}
![\"Cash](\"https://www.usnews.com/object/image/0000018d-f142-d343-abcd-fde35a590000/https-media-gettyimages-com-id-1411330785-photo-cash-dollars-and-stock-market-indicators.jpg?update-time=1709149729044&size=responsive970\")
Getty Images
Since dividend yield is a simple equation that expresses distributions as a percentage of share prices, a big drop in a stock can naturally inflate the yield quickly.
\"Risk on\" investments have been the hot topic on Wall Street lately, with tech stocks stealing the spotlight and putting up the lion's share of the gains. Take the popular chipmaker Nvidia Corp. (ticker: NVDA), which has surged a stunning 230% in the last year alone.
In such an environment, sleepy dividend stocks don't really get most investors' motors running. But while the typical stock in the S&P 500 yields only about 1.6% at present, the highest-yielding S&P 500 dividend stocks all deliver yields north of 6% \u2013 roughly four times the typical large U.S. company. That kind of high-octane income potential is a different story altogether.
There's admittedly some risk in companies like that, as now-generous dividends can be overshadowed by declines in share price or the risk of future cutbacks. But if you're looking to get a bit more out of your dividend stocks, consider these high-yield companies:
| Stock | \nDividend yield* | \n
| Pfizer Inc. (ticker: PFE) | \n6.3% | \n
| Devon Energy Corp. (DVN) | \n6.5% | \n
| Whirlpool Corp. (WHR) | \n6.5% | \n
| 3M Co. (MMM) | \n6.5% | \n
| Kinder Morgan Inc. (KMI) | \n6.6% | \n
| AT&T Inc. (T) | \n6.7% | \n
| Verizon Communications Inc. (VZ) | \n6.7% | \n
| Healthpeak Properties Inc. (PEAK) | \n7.4% | \n
| Altria Group Inc. (MO) | \n9.6% | \n
*Calculated as of Feb. 27 close.
Pfizer Inc. (PFE)
- \n
- Market value: $152 billion \n
- Dividend yield: 6.3% \n
A relative newcomer to the lineup of top S&P 500 dividend stocks, Pfizer is a classic case of a company that has become a yield monster lately for all the wrong reasons. Yes, it has a long tradition of sharing the wealth with shareholders, with its first-quarter payday marking the 341st consecutive quarterly dividend paid by Pfizer \u2013 a track record that spans more than 85 years.
However, this mainstay of the pharmaceutical industry became a victim of its success thanks to its dominant vaccine and a COVID-related boom that has recently dried up. Investors have abandoned PFE lately, driving shares down more than 30% in the last 12 months while the S&P 500 has moved more than 25% higher in the same period. Since dividend yield is a simple equation that expresses distributions as a percentage of share prices, a big drop in a stock can naturally inflate the yield quickly. That's obviously cause for concern in the near term, but given its staying power, this Big Pharma stock could be a bargain as it trades near 52-week lows.
Devon Energy Corp. (DVN)
- \n
- Market value: $28 billion \n
- Dividend yield: 6.5% \n
Oil and gas exploration company Devon is perhaps one of the most risky dividend stocks on this list, thanks to its uncertain payout structure. Generous but variable dividends are provided by DVN based on its free cash flow, which means investors are banking on strong energy pricing in order to power these currently generous but potentially uncertain distributions. Unfortunately, as energy prices have softened a bit in the last few years, shares of Devon have crashed more than 40% from their October 2022 highs.
This volatility is also reflected in Devon's quarterly dividend payments, which have dropped from $1.55 at its 2022 peak to a low of just 49 cents last August. Dividend \"cuts\" like these are far less worrisome and often far less permanent than changes at regularly paying blue-chip consumer companies. That said, investors should remember that past dividend performance is no guarantee of future payouts if you chase this high-yield energy stock.
Whirlpool Corp. (WHR)
- \n
- Market value: $6 billion \n
- Dividend yield: 6.5%
Like many consumer discretionary names, appliance giant Whirlpool has faced a challenging environment over the last two years thanks to rising input costs, stiff competition and broader economic uncertainty, causing some shoppers to delay pricey purchases. That's reflected in its poor share performance as WHR stock has lost more than half its value since the end of 2021.
Still, even as its stock price has slumped, the quarterly dividend remains firm at $1.75 a share. And perhaps most importantly, payouts are only about half of total earnings projected for fiscal year 2024. That means the distributions seem quite safe, even if volatility for shares may be the norm in Whirlpool for a bit longer. The smallest stock on this list, WHR is perhaps one of the most sensitive. But if things go well for Whirlpool in 2024, it could also be the S&P 500 dividend stock that turns around in the most dramatic fashion.
3M Co. (MMM)
- \n
- Market value: $50 billion \n
- Dividend yield: 6.5% \n
3M, like many older blue-chip stocks out there, has gone through plenty of restructurings over the years. The firm is at it again in 2024, with plans to spin off its health care-related businesses in April as a new company branded as Solventum. That said, investors haven't been wild about the details that have come to light in the last two months, particularly given a bit of fuzziness around whether the new dividend yield will be the same or possibly lower for the remaining 3M operations.
Obviously the loss of a substantive cash-generating part of its operations means the nominal payout per share will decrease. But investors are uncertain about whether the yield will shrink even faster than the rest of the firm, and have punished 3M as a result of that and other uncertainties. Still, for the time being, the current operations of 3M make it qualify as one of the highest dividend-paying stocks in the S&P 500. Tread lightly and watch the news closely if you're interested in 3M right now.
Kinder Morgan Inc. (KMI)
- \n
- Market value: $38 billion \n
- Dividend yield: 6.6% \n
Unlike the prior energy stock, the \"midstream\" oil and gas operations of Kinder Morgan give this company a bit more stability. KMI operates some 83,000 miles of pipelines and 140 terminal facilities across the U.S., meaning it is more of an infrastructure play than a refiner or driller that is dependent on market pricing of oil and gas to determine its profit margins. That provides a bit more predictability to both earnings and dividends. Of course, shares admittedly have lagged in the past year, as they've been mostly flat compared with other corners of the market, such as the booming tech sector. Still, KMI offers a generous yield that consistently ranks it as one of the top S&P 500 dividend stocks.
If you want a slow-and-steady income play in the energy sector, Kinder Morgan is definitely a leader.
AT&T Inc. (T)
- \n
- Market value: $120 billion \n
- Dividend yield: 6.7% \n
Everyone knows AT&T, the iconic telecommunications firm. But investors may not know how much the stock has changed over the years. What was first known as the American Telegraph and Telephone company got its start way back in 1885, and has evolved with the digital workforce to include data and wireless connections. It also dabbled in media until a restructuring a few years ago, when it spun out its stake in Warner Bros. Discovery Inc. (WBD).
Since then, the core business of AT&T has been focused on data connectivity and shoring up its balance sheet. The proof is in recent fundamentals, including $16.8 billion in free cash flow in 2023 \u2013 up from $14.2 billion in 2022 \u2013 and roughly $3 billion in debt reduction last year. Throw in a dividend that remains a little over half of its earnings, and it seems like this blue-chip telecom leader has a strong foundation to stay relevant for years to come.
Verizon Communications Inc. (VZ)
- \n
- Market value: $168 billion \n
- Dividend yield: 6.7% \n
Another entrenched telecom behemoth that makes the list of top S&P 500 dividend stocks is Verizon. In fact, if you were impressed by AT&T's cash flow, then the even larger $18.7 billion put up by VZ in 2023 will be music to your ears. This is an incredibly strong position for the company, allowing it to comfortably service its debt and continue paying generous dividends to shareholders.
After a 2023 increase in its dividend to 66.5 cents per share each quarter, the firm is riding 17 consecutive years of dividend increases and has a long-term commitment to dividend growth. And with those payouts currently amounting to less than 60% of 2024 earnings, there's ample headroom for future increases in the years ahead \u2013 even if the firm's growth rate doesn't set any records.
Healthpeak Properties Inc. (PEAK)
- \n
- Market value: $9 billion \n
- Dividend yield: 7.4% \n
Formerly known as HCP, Healthpeak is a REIT, or a real estate investment trust, that is focused on health care properties including outpatient medical, lab space and continuing-care retirement facilities. REITs have a mandate to deliver 90% of taxable income back to shareholders via dividends, and that means generous and reliable dividends as PEAK passes through to investors a portion of the rent paid by its tenants. Still, a rising-interest-rate environment has made real estate firms pay more for the debt they require to grow, and shares are about half of where they were two years ago. Recent performance aside, it's undeniable that we all need care as we age and the built-in customer base of Healthpeak should help provide a measure of reliability over the long haul.
Altria Group Inc. (MO)
- \n
- Market value: $72 billion \n
- Dividend yield: 9.6% \n
Altria is a popular dividend stock that has been atop the list of the highest-paying S&P 500 dividend stocks for a while. That's because of its consistent and reliable yield and a great track record of increases in its payouts. Specifically, the stock has logged 55 consecutive years of dividend increases \u2013 longer than many other dividend stocks have even been in operation.
Of course, growth is challenged for this tobacco giant that produces Marlboro cigarettes, Black & Mild pipe and cigar products, and smokeless tobacco like Copenhagen and Skoal. But it has stable operations and dominates the U.S. market for those who are looking for a nicotine fix. If you want to trade growth potential for income potential, MO may be a stock that fits the bill.
Tags: investing, stock market, dividends, Pfizer, Devon Energy Corp, Whirlpool Corp., 3M, Kinder Morgan, AT&T, Verizon, Healthpeak Properties, Altria Group
The Best Financial Tools for You
![](\"https://www.usnews.com/object/image/0000016d-1d02-d44f-a3ed-bdd26a380000/190910-creditcardlineup-stock.jpg?update-time=1568149832843&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/00000184-f347-da9a-afbc-fb47b33c0000/gettyimages-1419405893.jpg?update-time=1670531350140&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/00000185-7978-d560-abd5-7d7e71200000/gettyimages-595504906.jpg?update-time=1672780319037&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/00000186-dbc1-d8b7-adbe-fbe7072e0000/gettyimages-1224140562.jpg?update-time=1678724163834&size=responsiveSquare150\")
\n Comparative assessments and other editorial opinions are those of U.S. News\n and have not been previously reviewed, approved or endorsed by any other\n entities, such as banks, credit card issuers or travel companies. The content\n on this page is accurate as of the posting date; however, some of our partner offers may have expired.\n
Read More
![](\"https://media.beam.usnews.com/ab/7a/381626494dbfb8b167dd76b27c90/190718-investedusnlogo-design.png\")
\r\n \r\n\tSubscribe to our daily newsletter to get investing advice, rankings and stock market news.
\r\n \r\n\tSee a newsletter example.
\r\n\t![](\"https://www.usnews.com/object/image/00000181-3fa3-dc82-abd7-7faf9a450001/gettyimages-1397862835.jpg?update-time=1654630095236&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/00000176-b415-dcd3-a5fe-fdd7df480000/201230-citigroup-stock.jpg?update-time=1609339158839&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000018e-33cc-de43-a5bf-37eea1800000/https-media-gettyimages-com-id-2017789596-photo-asian-female-scientist-passionately-conducts-experiments-in-a-laboratory-surrounded-by-petri.jpg?update-time=1710266133605&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000018e-33d8-d0dc-adef-f7d8009d0000/gettyimages-1462785188.jpg?update-time=1710266806146&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000016f-a5c5-de20-afff-affdf3fd0000/northrupplane.jpg?update-time=1579034586049&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000018e-2ea3-d894-a9ce-afe7bbb20000/https-media-gettyimages-com-id-56805153-photo-facade-of-us-treasury-department-building-washington-dc-usa.jpg?update-time=1710179481469&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000018e-2e78-db03-a7af-3ff84d8e0000/gettyimages-530281129.jpg?update-time=1710176651078&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000018e-2e83-d453-a5ce-bfa3a0c30000/gettyimages-1332760781.jpg?update-time=1710177389909&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000018e-1fe5-dc4e-ab8f-1fe7f1760000/https-media-gettyimages-com-id-1089483216-photo-government-shutdown.jpg?update-time=1709932163949&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000017e-ea5a-de90-a17f-ebdbb7280000/gettyimages-1317533119.jpg?update-time=1644617609465&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000018e-1fc7-de87-adfe-3fdf7c550000/https-media-gettyimages-com-id-1455173954-photo-cannabis-in-glass-jars-for-sale-on-the-streets-of-bangkoks-night-markets-and-tourist-areas.jpg?update-time=1709930221520&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000018e-1f6f-dd4b-abaf-7f6ff76d0000/gettyimages-1291561082.jpg?update-time=1709924453280&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000018d-b31e-dd15-a58d-bfbf5b390000/tag%3Areuters.com%2C2024%3Anewsml_LYNXNPEK1F0NS%3A12024-02-16T180714Z_1_LYNXNPEK1F0NS_RTROPTP_3_FINTECH-CRYPTO.JPG?update-time=1708106834000&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/00000187-fcd1-d357-a9a7-fdd5b5f30000/gettyimages-1391878360.jpg?update-time=1683574032523&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000018e-1a52-d4da-a9fe-1ad62aef0000/gettyimages-1820066799.jpg?update-time=1709838605272&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/00000187-ec60-dedb-a597-ee76dfc10000/gettyimages-185115173.jpg?update-time=1683298047750&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/00000188-bff2-dda3-a18e-bffb09e30000/gettyimages-1258274454.jpg?update-time=1686847594091&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/00000182-4b45-d7c8-abd7-6b7f3a6f0000/gettyimages-1271631595.jpg?update-time=1659120241849&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000018e-1532-db51-a79f-5f3230a70000/https-media-gettyimages-com-id-1401693236-photo-crypto-currency-mining-rig-on-dark-background.jpg?update-time=1709752610381&size=responsiveSquare150\")
![](\"https://www.usnews.com/object/image/0000018e-14f7-dad5-afbf-3ef79bdc0000/gettyimages-2007576218.jpg?update-time=1709748795158&size=responsiveSquare150\")
![\"\"](\"https://www.suredividend.com/wp-content/uploads/2022/10/High-Dividend-Image.jpg\")
![\"\"](\"https://www.suredividend.com/wp-content/uploads/2024/02/WU-2024-02-22-1.jpg\")
![\"\"](\"https://www.suredividend.com/wp-content/uploads/2024/02/LNC-2024-02-13-1.jpg\")
![\"\"](\"https://www.suredividend.com/wp-content/uploads/2024/02/UHT-2023-10-28-1.jpg\")
![\"\"](\"https://www.suredividend.com/wp-content/uploads/2024/01/EPD-2023-11-013-1.jpg\")
![\"\"](\"https://www.suredividend.com/wp-content/uploads/2024/02/FLIC-2024-01-29-1.jpg\")
![\"\"](\"https://www.suredividend.com/wp-content/uploads/2024/01/MPLX-2024-01-30-1.jpg\")
![\"\"](\"https://www.suredividend.com/wp-content/uploads/2024/02/MO-2024-02-15-1.jpg\")