Top Dividend Stocks
through Jan 20, 2023
Top dividend paying US-listed stocks that meet our stringent criteria.
Top Dividend Stocks
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.
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.
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
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.
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., stock 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.
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., stock 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.
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.
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Can you avoid double taxation on dividends