TOP DIVIDEND STOCKS
FOR 2024

In the long run, dividend investing can potentially provide investors with a steady source of income. At the same time, reinvesting your “after tax dividend income,” has the potential to dramatically increase your returns — thanks to compounding. 

But, just as importantly, good dividend stocks can help you offset rising costs through both the passive income they provide and their stock price appreciation. You get paid a dividend, but may also benefit from long-term capital appreciation in the share price, should the business continue to perform as it did in the past. So, it is not a surprise that investors are always searching for these stocks.

The purpose of this article is to highlight the 6 top dividend stocks across major sectors that you may want to research for Q4 2024.

• Chevron (CVX)
• Gilead Sciences, Inc (GILD)
• Host Hotels & Resorts, Inc. (HST)
• CME Group Inc (CME)
• LyondellBasell Industries N.V. (LYB)
• Kenvue Inc. (KVUE)

Chevron (CVX)

Past performance is not an indication of future results

• Chevron is an integrated energy company that operates in exploration, production and refining around the world and ranks as the second-largest US oil company.
• Paying an annual dividend of $4.89 per share at its current stock price, the annual dividend yield is 3.91%. This is more than double the 1.32% average dividend yield for the S&P 500 Index.
• Taking its long track record into account, there is a chance that Chevron will hold or increase its dividend for the next quarter, with analysts currently predicting the next quarterly payment to be $1.63.
• Like other companies in the sector, Chevron is exposed to fluctuations in global energy prices, but the firm’s payout ratio of 56.67% highlights its willingness to distribute profits to investors.
• The company has a long history of paying dividends and has increased the per share payout for 37 consecutive years.
• Its stock has increased in value by 21.92% since the start of 2022 and the dividend growth table highlights how CHV merits inclusion in dividend growth strategies.
  
• Chevron’s next quarterly results are due to be released on 1st November.

Year	Dividend per share	Dividend yield
2024	4.8900	3.91%
2023	6.0400	4.05%

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Gilead Sciences, Inc (GILD)

Past performance is not an indication of future results

• Gilead Sciences, Inc. is a biopharmaceutical company that focuses on the research, development and marketing of therapies targeting unmet medical needs and life-threatening conditions.
• The firm pays quarterly dividends and the size of those payouts has held or increased for the last eight consecutive years.

• In cash terms, the annual dividend per share is currently $2.31, representing an annual dividend yield of 4.00% which comfortably outstrips the average dividend yield of the S&P 500 Index.

• The firm’s ability to distribute profits to shareholders is a sign of its financial stability, and given the nature of the sector, and the research element of the GILD business model, there is room for share price growth as well.  

• The Gilead share price is relatively volatile and over the last 52 weeks has traded within a range of $61.98 – $87.73. Buying at times when the stock is undervalued would not only leave room for capital gains, but result in an improved dividend yield as well.

• Whilst the dividend yield has fluctuated over the last five years the consistency and reliability of regular payments to shareholders could make it an appealing proposition for dividend investors.

Year	Dividend per share	Dividend yield
2024	2.3100	4.00%
2023	3.0000	3.70%

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Host Hotels & Resorts, Inc. (HST)

Past performance is not an indication of future results

• Host Hotels & Resorts, Inc. is a real estate investment trust founded in 1998 that primarily invests in luxury hotels in the US, although it also has additional exposure to real estate ventures in Canada and Brazil. The trust is headquartered in Bethesda, Maryland. 

• The annual dividend payment per share is $0.85, which at the current share price equates to a dividend yield of 4.50%.

• HST has a relatively high payout ratio of 40.00%, which means that 40% of the company’s earnings are paid out as dividends. That marks the firm as one which is a solid candidate for inclusion in a dividend based strategy.

• The firm has consistently increased its dividend payout over the last two years.

• Like other companies with exposure to the hotel sector, HST has posted impressive dividend yield growth as the wider market has recovered from the covid pandemic. The absence of a dividend in 2021 reflects the firm at that time retaining funds to ensure its long-term viability.

Year	Dividend per share	Dividend Yield
2024	0.85	4.50%
2023	0.65	3.34%

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CME Group Inc (CME)

Past performance is not an indication of future results

• CME Group Inc. is a US global markets company operating a group of diverse financial derivatives exchanges. The firm owns the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and the Commodity Exchange (COMEX). 

• The group can trace its roots back to 1898, but now has connections to 11 global financial hubs and relationships with 12 partner exchanges internationally. The firm has grown to also offer tools and resources to traders, including a market news feed and a trading education portal.

• In the last full financial year CME stockholders received $9.65 in dividends per share. At present stock price levels that dividend converts to a 4.47% yield which earns CME a place on the list of stocks which dividend investors should consider buying.

• There is also potential for capital gains from the stock price rising but the relatively tight trading range of the last 12 months ($191 – $221) positions CME more as an out-and-out dividend income stock.

• The CME Group Inc. pays dividends on a quarterly basis and has increased its dividends for 14 consecutive years.

Year	Dividend per share	Dividend yield
2024	3.4500	4.47%
2023	9.6500	4.06%

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LyondellBasell Industries N.V. (LYB)

Past performance is not an indication of future results

• LyondellBasell Industries N.V. is a global chemical company that produces plastics and chemicals for a wide range of applications. It also refines crude oil into gasoline, diesel and jet fuel. Founded in 1955, LyondellBasell has its headquarters in Houston, Texas. 

• LYB has the highest dividend yield in our list of favoured dividend stocks. With $4.94 being paid out on each share in the last full financial year the stock currently offers a generous dividend yield of 5.29%. 

• Concerns that the firm might be prioritising dividend payouts rather than the long-term health of the firm are allayed by the mid-range dividend payout ratio of 76.23%. The company has a reputation as a reliable dividend payer and there are few reasons to suggest that situation might change in the near future.

• An increase in share price volatility during the covid pandemic has been followed by LYB stock trading in a relatively tight range. In the last 12 months the low and high prices levels have been $88.37 and $106.47, but the lack of possible capital returns are balanced out by the firm having increased its dividend for 12 consecutive years. 

• Dividend growth data over the last three years points to the firm having consistently recorded a dividend yield in the region of 5%.

Year	Dividend per share	Dividend yield
2024	2.59	5.29%
2023	4.94	5.20%

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Kenvue Inc. (KVUE)

Past performance is not an indication of future results

• Kenvue Inc. is an American consumer health company which was spun out of the Consumer Healthcare division of Johnson & Johnson (JNJ) in 2023. It specialises in producing and selling household brands such as Aveeno, Band-Aid, Benadryl, Listerine, Neutrogena and Tylenol.

• Given that KVUE stock first listed on the New York Stock Exchange in 2023, there is limited scope for running historical comparisons, but the KVUE stock has already been accepted as a member of the Dividend Aristocrats Index.

• The firm currently pays $0.605 per share which equates to a 4.33% dividend yield.

• Investors who are keen to track the stock’s progress will be able to update their analysis when the next round of quarterly earnings are released on 31st October.

• KVUE could turn out to be one of the big dividend names in the market. The strength of the brands it holds is matched by a clear intention to share profits with shareholders and the firm currently has a payout ratio of 44.44%

Year	Dividend per share	Dividend yield
2024	0.6050	4.33%
2023	0.4000	1.86%

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Conclusion

Dividend investing has long-term scope, so serious investors typically worry less about daily price fluctuations. However, it is essential to look for companies that have long track records of dividend payments, stable income streams and excellent businesses.

If you are looking for more dividend stock ideas like these here, spend some time researching companies that offer attractive dividend yields and are financially sound enough to preserve and potentially increase their dividend payments.

Invest in Dividend stocks and other asset classes on eToro.

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