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Top Dividend Stocks
through Jan 20, 2023

Top dividend paying US-listed stocks that meet our stringent criteria.
Top Dividend Stocks
Presentation page on Top Dividend Stocks. Title in yellow, and text in dark blue.
Our list of high quality, dividend paying stocks have 5 attributes:
​1.  US-listed stocks
2.  Traded every day, passed data validation
3.  Profitable, net income > 0
4.  Efficiency (risk vs. return) > S&P 500 Index ETF
5.  Dividends paid > S&P 500 Index ETF

Item 4 is based on our Chicago Quantum Net Score for each individual stock.  This is a proprietary algorithm that compares the relative level of reward for risk.

Our list of dividend paying stocks which have risk-return profiles better than the S&P 500 is limited.  Do your due diligence, learn their stories, and decide where you will invest. 
​​Dividend amounts were paid last year vs. average of the stock price (an effective historical dividend yield)
  • None found (No single stock scored better individually than the $SPY.
Some stocks pay a consistent dividend that is a sustainable percentage of profits and free cash flow (e.g., 20% to 50%).  As the company grows profits and cash flow, it can afford to grow dividends. This works in reverse.  When a company becomes less profitable, it feels pressure to shrink or eliminate its dividend. We see evidence of this in our Chicago Quantum Net Score analysis of US-listed stocks.

There are a significant number of companies that paid 7% or more in actual dividend yield over the past year. All of them are listed below (for US-listed stocks that pass our data validation process). Only a few 'money losing' companies pay a 7% or higher dividend, and that number keeps shrinking. 


There are exceptions to the 'sustainable dividend' story above. Some companies pay a one-time dividend to return cash to shareholders. This could be due to a windfall profit (e.g., winning a lawsuit), or restructuring their business (e.g., sell or spinout a business).
​
​
Below is a list of listed US common stocks based on their actual payout / average share price over the past year.  This is an actual, historical dividend yield for an owner of the stock every day for the past year.  This is not a forward-looking dividend yield.

These are the top dividend paying stocks over the past year for companies. A value of 1.10 means the company paid 10% of their average closing price in dividends in the past 253 trading days.
Stocks that paid 7% or more in dividends last year (vs. actual average stock price)

PFSW    PFSWEB Inc                                              1.73
ACI     Albertsons Companies Inc                                1.34
LPG     Dorian LPG Ltd                                          1.32
UAN     CVR Partners LP                                         1.19
ARR     ARMOUR Residential REIT Inc                             1.19
CHMI    Cherry Hill Mortgage Investment Corporation             1.18
CHRD    Chord Energy Corp                                       1.18
SPOK    Spok Holdings Inc                                       1.17
GNK     Genco Shipping & Trading Limited                        1.17
EWCZ    European Wax Center Inc                                 1.16
IEP     Icahn Enterprises L P                                   1.16
EGLE    Eagle Bulk Shipping Inc                                 1.16
IVR     Invesco Mortgage Capital Inc                            1.16
LOCO    El Pollo Loco Holdings Inc                              1.16
CTO     CTO Realty Growth Inc                                   1.15
KRP     Kimbell Royalty Partners LP                             1.15
CVI     CVR Energy Inc                                          1.15
AFCG    AFC Gamma Inc                                           1.14
DMLP    Dorchester Minerals LP                                  1.14
EARN    Ellington Residential Mortgage REIT                     1.14
RC      Ready Capital Corp                                      1.14
CIM     Chimera Investment Corp                                 1.14
AGNC    AGNC Investment Corp                                    1.13
RGR     Sturm  Ruger & Co.  Inc.                                1.13
BSET    Bassett Furniture Industries Inc.                       1.13
SACH    Sachem Capital Corp                                     1.13
RTL     Necessity Retail REIT Inc (The)                         1.13
EFC     Ellington Financial Inc                                 1.13
ARI     Apollo Commercial Real Estate Finance Inc               1.13
GNL     Global Net Lease Inc                                    1.13
BRMK    Broadmark Realty Capital Inc                            1.12
USAC    USA Compression Partners LP                             1.12
MFA     MFA Financial Inc                                       1.12
AJX     Great Ajax Corp                                         1.12
CBL     CBL& Associates Properties  Inc.                        1.12
RKT     Rocket Companies Inc                                    1.11
BKE     Buckle  Inc.                                            1.11
RITM    Rithm Capital Corporation                               1.11
DX      Dynex Capital  Inc.                                     1.11
AFG     American Financial Group Inc                            1.11
NS      Nustar Energy L P                                       1.11
UWMC    UWM Holdings Corporation                                1.11
CAPL    CrossAmerica Partners LP                                1.11
AMSF    Amerisafe Inc                                           1.11
BSM     Black Stone Minerals L.P.                               1.11
BRSP    BrightSpire Capital Inc                                 1.10
NLY     Annaly Capital Management Inc                           1.10
OMF     OneMain Holdings Inc                                    1.10
VIA     Via Renewables Inc                                      1.10
CWH     Camping World Holdings Inc                              1.10
CEQP    Crestwood Equity Partners LP                            1.10
OHI     Omega Healthcare Investors  Inc.                        1.09
SFL     SFL Corporation Ltd                                     1.09
MPLX    MPLX LP                                                 1.09
ORC     Orchid Island Capital Inc                               1.09
SBRA    Sabra Healthcare REIT Inc                               1.09
MFIC    MidCap Financial Investment Corporation                 1.09
CFFN    Capitol Federal Financial                               1.09
AM      Antero Midstream Corp                                   1.09
FTAI    FTAI Aviation Ltd                                       1.09
GLP     Global Partners LP                                      1.09
AB      AllianceBernstein Holding Lp                            1.09
KNTK    Kinetik Holdings Inc                                    1.09
ARCH    Arch Resources Inc                                      1.09
APAM    Artisan Partners Asset Management Inc                   1.09
MMP     Magellan Midstream Partners L.P.                        1.09
NFE     New Fortress Energy Inc                                 1.09
GOOD    Gladstone Commercial Corp                               1.09
GFF     Griffon Corp.                                           1.09
BRY     Berry Corp                                              1.09
EIG     Employers Holdings Inc                                  1.08
SPH     Suburban Propane Partners LP                            1.08
LADR    Ladder Capital Corp                                     1.08
SUN     Sunoco LP                                               1.08
ACRE    Ares Commercial Real Estate Corp                        1.08
LUMN    Lumen Technologies Inc                                  1.08
RILY    B. Riley Financial Inc                                  1.08
HEP     Holly Energy Partners L.P.                              1.08
MO      Altria Group Inc.                                       1.08
ET      Energy Transfer LP                                      1.08
TFSL    TFS Financial Corporation                               1.08
ETRN    Equitrans Midstream Corporation                         1.08
BGFV    Big 5 Sporting Goods Corp                               1.08
ARLP    Alliance Resource Partners  LP                          1.08
BGS     B&G Foods  Inc                                          1.08
EPD     Enterprise Products Partners L P                        1.08
PAA     Plains All American Pipeline LP                         1.08
HESM    Hess Midstream LP                                       1.08
EOG     EOG Resources  Inc.                                     1.08
FRG     Franchise Group Inc                                     1.08
VGR     Vector Group Ltd                                        1.08
VNOM    Viper Energy Partners LP                                1.08
DEA     Easterly Government Properties Inc                      1.07
EPR     EPR Properties                                          1.07
GMRE    Global Medical REIT Inc                                 1.07
WES     Western Midstream Partners LP                           1.07
OLP     One Liberty Properties  Inc.                            1.07
AROC    Archrock Inc                                            1.07
NYCB    New York Community Bancorp Inc.                         1.07
SLG     SL Green Realty Corp.                                   1.07
RLI     RLI Corp.                                               1.07
MC      Moelis & Co                                             1.07
MATV    Mativ Holdings Inc                                      1.07
EVA     Enviva Inc                                              1.07
ARC     ARC Document Solutions Inc                              1.07
HVT     Haverty Furniture Cos.  Inc.                            1.07
PSA     Public Storage                                          1.07
IIIN    Insteel Industries  Inc.                                1.07
EPM     Evolution Petroleum Corporation                         1.07
TWO     Two Harbors Investment Corp                             1.07
Past dividends is not a guarantee of future dividends

You should not assume that a company will continue to pay dividends, nor pay them at the same rate.  The decision to pay a dividend, and the amount paid, is based on earnings and availability of suitable investments available to the company.  Companies change their dividend policies & dividend amounts frequently. 

Money losing companies that pay dividends

You may also notice that a few companies are not profitable, but paid significant dividends over the past year. There are three simple cases that we think about:
1. The company was, but is no longer profitable
2. The company is designed to pay dividends based on operating cash flows (e.g., REITS or MLPs) but have 'non-cash' expenses like depreciation or amortization to cause an accounting loss.
3. The company paid a small dividend percentage, but then the stock price declined.

How we calculate dividends

We use a novel method to compare stock dividend payouts. It divides the actual dividends paid by the average closing share price. This is an actual, historical dividend yield for an owner of the stock every day for the past year.  This is not a forward-looking dividend yield, which is what you typically see.  We use it in our platform.

Dividend payout: (1 + dividend %)
A. 1.15 = 15% payout
B. 1.00 = no dividend
C. 1.012 = 1.2% dividend yield (e.g., s
tock ABC paid $1.20 last year, and had an average close price of $100)

Do your due diligence, learn their stories, and decide where you will invest.  Each of these stocks has a story.
​

One more note about dividend stocks. They tend to decline when interest rates rise.

We were attracted to a particular dividend stock. It pays a high dividend, generates significant free cash flow, and is a consistent performer. This stock fell almost in lock-step with the rise of interest rates. This is because high dividend stocks can often look like a bond but with equity risk. 

Why invest in dividend-paying stocks?
The simple answer is it reduces your risk. Each year a portion of your investment is returned.

Why avoid dividend-paying stocks?
On the other hand, dividends are taxed twice, once as the company generates the profit to pay them, and twice as you receive the dividend. In most situations, dividends are taxed higher than capital gains, so there is almost a 'triple tax' on dividends.

As an example of double taxation from dividends, a dollar earned by a company yields $0.70 after corporate taxes.  They pay the $0.70 to shareholders who then pay Federal and State taxes of 40% on that income, yielding a final amount of $0.42 (out of the original dollar), or a tax of 58%. 

Can you avoid double taxation on dividends?
Case 1: Invest in companies that reinvest earnings into growth (e.g., Amazon's strategy) so no tax would be paid and the company is expected to grow future earnings more quickly.  In that case, no current tax is paid.

Case 2: Invest in companies that use free cash flow to increase per-share, shareholder equity. In this case, the company earns income, pays corporate taxes of $0.30, and uses the $0.70 (after taxes) to buy back shares of stock or pay down debt. The investor, in theory, could defer their share of taxes indefinitely by not selling their shares, or sells them after a year and pays lower capital gains taxes as low as 15%.  In this case, the tax paid in the current year is $0.30 or $0.405 if the stocks were sold after one year.

Search terms that should find this webpage.
​
Top Dividend Stocks 2022
Top dividend paying stocks
Top 10 dividend stocks
Best dividend stocks 2022
top dividend stocks 2023
top yielding dividend stocks
high dividend stocks
sustainable dividend story
Profitable and unprofitable company dividends
Dividend stocks decline when interest rates rise
Why invest in dividend-paying stocks
Why avoid dividend-paying stocks
Double taxation
Can you avoid double taxation on dividends

​

Copyright 2023 US Advanced Computing Infrastructure, Inc.  
Chicago Quantum (SM) is a protected service mark, registration 113562, by the Secretary of State of Illinois.
US Advanced Computing Infrastructure CRD#: 316375
Business Mailing Address: 833 Central Avenue #1292, Highland Park, Illinois 60035-7292

Disclaimer: 
All investing, stock forecasts, and investment strategies include the risk of loss for some or even all of your capital.  Please do your due diligence and research before investing.  Statements made on our website or in social media are not investment advice.  They do not take into account your unique circumstances, risk tolerance or investing objectives.  Please consider our website and social media outlets as for informational purposes only.

The stocks mentioned may not be suitable for all investors.  As with any investment there is risk.  Past performance is not an indication of future results.  Please do your own due diligence on any stock portfolios highlighted.  Finally, we make no guarantees for your financial results.  You bear all the risk, and gain all the rewards of your investments.

Unauthorized reproduction or redistribution of this information or the analysis provided in any form is strictly prohibited.


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    • Our Brochure
    • Stocks Held By Advisers
  • Advisory Services
    • Portfolio Optimization Services
    • Stock Analysis - Up Run
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    • Custom Algorithm Development
    • Investment Planning Workshop
  • Project Services
    • Professional Services
  • Market Information
    • Retail Investor
    • Why Use ETFs?
    • Negative BETA Stocks
    • Top Dividend Stocks
    • Stock Price Variance
    • Leptokurtic Stocks
    • Platykurtic Stocks
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