Top 20 Current Highest Yielding Dividend Aristocrats

Sure Dividend wrote this excellent post on the top 20 current highest yielding dividend aristocrats. They have given us permission to republish it here.

At Sure Dividend, we often steer income investors toward the Dividend Aristocrats. Investors looking for high-quality dividend stocks to buy and hold for the long-run, can find many attractive stocks on this prestigious list.

The Dividend Aristocrats are a select group of 65 stocks in the S&P 500 Index, with 25+ consecutive years of dividend increases.

You can download an Excel spreadsheet of all 65 Dividend Aristocrats (with metrics that matter such as dividend yields and price-to-earnings ratios) by clicking the link below:

Click here to download your Dividend Aristocrats Excel Spreadsheet List now.

We typically rank stocks based on their five-year expected annual returns, as stated in the Sure Analysis Research Database.

But for investors primarily interested in income, it is also useful to rank the Dividend Aristocrats according to their dividend yields.

This article will rank the 20 highest-yielding Dividend Aristocrats today.

High Yield Dividend Aristocrat #20: Target Corporation (TGT)

  • Dividend Yield: 2.9%

Target is a giant discount retailer. Its business consists of about 1,850 big box stores, which offer general merchandise and food, as well as serving as distribution points for the company’s burgeoning e-commerce business. Target should produce about $110 billion in total revenue this year.

Target reported first quarter earnings on May 18th, 2022, and results were much worse than expected from a margin perspective.

Adjusted earnings-per-share missed estimates by 87 cents at $2.19. Revenue was up 4% year-over-year to $25.2 billion, which was $690 million ahead of estimates.

Comparable sales grew 3.3%, which was due to traffic growth of 3.9% and a slightly lower average ticket size.

Store comparable sales were up 3.4%, while digital comparable sales grew 3.2%. Operating income was $1.3 billion, down from $2.4 billion, driven primarily by a lower gross margin rate.

Gross margins plunged from 30.0% to 25.7% of sales due to higher markdowns and costs related to freight, supply chain disruptions, and increased wages.

The company noted operating margin rate should be roughly where it was in Q1 for Q2, and the company expects to see low- to mid-single digit revenue growth and operating income margin around 6% for the year.

We expect Target to grow EPS by 8% per year. In addition, the stock has a 3% dividend yield, while an expanding valuation is expected to add ~4.1% per year over the next five years.

Total returns are expected to reach 15.1% per year.

Click here to download our most recent Sure Analysis report on Target

High Yield Dividend Aristocrat #19: Medtronic plc (MDT)

  • Dividend Yield: 3.0%

Medtronic is the largest manufacturer of biomedical devices and implantable technologies in the world.

The company serves physicians, hospitals, and patients in more than 150 countries and has over 90,000 employees.

Medtronic has four operating segments: Cardiovascular, Medical Surgical, Neuroscience and Diabetes. Medtronic has raised its dividend for 45 consecutive years. The company generated $32 billion in revenue in its last fiscal year.

In May 2022, Medtronic raised its dividend to $0.68 per share; the company’s 45th consecutive yearly increase. In late May, Medtronic reported (5/26/22) financial results for the fourth quarter of fiscal year 2022.

Organic revenue grew only 1% over the prior year’s quarter due to supply chain disruptions, particularly in Surgical Innovations, and lockdowns in China.

Due to these headwinds, adjusted earnings were flat and adjusted earnings-per-share grew only 2%, from $1.49 to $1.52, thus missing the analysts’ consensus by $0.04.

Medtronic issued lackluster guidance for the new fiscal year, anticipating 4%-5% growth of organic revenue and essentially flat adjusted earnings-per-share of $5.53-$5.65.

Click here to download our most recent Sure Analysis report on MDT

High Yield Dividend Aristocrat #18: The Clorox Company (CLX)

  • Dividend Yield: 3.3%

The Clorox Company is a manufacturer and marketer of consumer and professional products, spanning a wide array of categories from charcoal to cleaning supplies to salad dressing.

More than 80% of its revenue comes from products that are #1 or #2 in their categories across the globe, helping Clorox produce more than $7 billion in annual revenue.

Clorox reported third quarter earnings on May 2nd, 2022, and results were better than expected on both the top and bottom lines.

Adjusted earnings-per-share came to $1.31, which was 35 cents ahead of expectations. Revenue was up fractionally year-over-year at $1.8 billion, about $10 million ahead of estimates.

Net sales growth reflected higher shipments across all reporting segments, while organic sales rose 2%. The company noted the three-year average growth rate for net sales was up 5%, but this period encompasses the surge in revenue from COVID.

Gross margins plummeted 760 basis points to 35.9% of revenue, due mainly to higher manufacturing and logistics costs, as well as commodity costs.

These were partially offset by the benefits of pricing increases and cost savings initiatives. Adjusted earnings-per-share were down 19% year-over-year, due primarily to lower gross margin, and partially offset by lower advertising spending and higher net revenue.

Click here to download our most recent Sure Analysis report on Clorox

High Yield Dividend Aristocrat #17: Essex Property Trust (ESS)

  • Dividend Yield: 3.3%

Essex Property Trust was founded in 1971.

The trust invests in west coast multifamily residential proprieties where it engages in development, redevelopment, management and acquisition of apartment communities and a few other select properties.

Essex has ownership interests in several hundred apartment communities consisting of over 60,000 apartment homes. The trust has about 1,800 employees and produces approximately $1.6 billion in annual revenue.

On April 26th, 2022 Essex reported first quarter results. Core FFO-per-diluted share increased 9.8% to $3.37 from $3.07 year-over-year.

Total FFO per-diluted share increased 4% to $3.36 from $3.23 in the year-ago period. Net income decreased 56.8% to $1.12 primarily due to a gain on sale recorded in the prior-year period.

Same-property gross revenue increased by 6.5% and same-property net operating income increased by 7.3% year-over-year.

Meanwhile, Essex raised its 2022 core FFO per share guidance by $0.25 at the midpoint to a range of $13.77 – $14.13, net income per diluted share guidance by $0.11 at the midpoint to a range of $4.79 – $5.15, and expects full-year sameproperty revenue growth of 8.6% and same-property NOI growth of 10.7%.

Click here to download our most recent Sure Analysis report on ESS

High Yield Dividend Aristocrat #16: Consolidated Edison (ED)

  • Dividend Yield: 3.4%

Consolidated Edison is a holding company that delivers electricity, natural gas, and steam to its customers in New York City and Westchester County. It has annual revenues of nearly $13 billion.

On May 5th, 2022, Consolidated Edison announced first quarter results for the period ending March 31st, 2022. Revenue grew 10.3% to $4.1 billion, beating estimates by $350 million.

Adjusted earnings of $522 million, or $1.47 per share, compared to adjusted earnings of $491 million, or $1.44 per share, in the previous year. Adjusted earnings-per-share was $0.01 lower than expected.

Higher rate bases for gas and electric customers added $0.08 to the company’s New York operations while recovery of late payments added $0.04.

Higher revenues in company’s clean energy business added $0.08 to results.

Consolidated Edison expects capital investments of nearly $16 billion for the 2022 to 2024 time period, with $4.7 billion targeted for green energy projects, such as smart systems and electric vehicles.

Consolidated Edison confirmed its prior guidance for 2022 as well. The company expects adjusted earnings-per-share of $4.40 to $4.60 for the year.

This would be a 2.5% increase from the prior year. The company also expects a five-year earnings growth of 5% to 7%. Rate increases are a major driver of Consolidated Edison’s growth.

Click here to download our most recent Sure Analysis report on ConEd

High Yield Dividend Aristocrat #15: Kimberly-Clark (KMB)

  • Dividend Yield: 3.5%

Kimberly-Clark is a global consumer products company that operates in 175 countries and sells disposable consumer goods, including paper towels, diapers, and tissues.

It operates through two segments that each house many popular brands: Personal Care Segment (Huggies, Pull-Ups, Kotex, Depend, Poise) and the Consumer Tissue segment (Kleenex, Scott, Cottonelle, and Viva), generating nearly $20 billion in annual revenue.

Kimberly-Clark reported first quarter earnings on April 22nd, 2022, and results were much better than expected on both the top and bottom lines.

Adjusted earnings-per-share came to $1.35, which was 12 cents ahead of estimates. In addition, revenue rose almost 8% to $5.1 billion, beating estimates by $180 million.

The company reported double-digit organic sales growth as it saw growth across all segments.

The company also said it was investing in improving margins over time. As part of that, and in part to combat rising input cost inflation, net selling prices were up 6% on average.

Sales in North America rose 16% due to price increases and organic sales growth, including particular strength in baby and childcare, adult care, and feminine care.

Full-year organic sales are now forecast to be between 4% and 6%, an increase of 100bps and 200bps, respectively.

Click here to download our most recent Sure Analysis report on Kimberly-Clark

High Yield Dividend Aristocrat #14: AbbVie Inc. (ABBV)

  • Dividend Yield: 3.7%

AbbVie Inc. is a pharmaceutical company spun off by Abbott Laboratories (ABT) in 2013.

Its most important product is Humira, which is now facing biosimilar competition in Europe, which has had a noticeable impact on the company. Humira will lose patent protection in the U.S. in 2023.

Even so, AbbVie remains a giant in the healthcare sector, with a large and diversified product portfolio.

AbbVie reported its first quarter earnings results on April 29. The company was able to generate revenues of $13.5 billion during the quarter, which was 4% more than AbbVie’s revenues during the previous year’s quarter.

Revenues were positively impacted by healthy growth from some of its drugs, including Skyrizi and Rinvoq.

AbbVie earned $3.16 per share during the first quarter, which was 9% more than the company’s earnings-per-share during the previous year’s quarter. AbbVie’s earnings-per-share beat the consensus analyst estimate by $0.02.

AbbVie’s guidance for 2022’s adjusted earnings-per-share was lowered slightly during the earnings call, the company now expects to earn $13.92 – $14.12 on a per-share basis this year.

Click here to download our most recent Sure Analysis report on AbbVie

High Yield Dividend Aristocrat #13: Cardinal Health (CAH)

  • Dividend Yield: 3.7%

Cardinal Health is one of the “Big 3” drug distribution companies along with McKesson (MKC) and AmerisourceBergen (ABC).

Cardinal Health serves over 24,000 United States pharmacies and more than 85% of the country’s hospitals. The company has operations in more than 30 countries with approximately 44,000 employees.

Cardinal Health released Q3 fiscal 2022 results for the period ending March 31st, 2022 (Cardinal Health’s fiscal year ends June 30th).

For the quarter, the company’s revenue grew 14.1% to $44.8 billion, which was $1.64 billion higher than expected. On an adjusted basis, the company posted earnings of $545 million, or $1.45 per share, compared to $689 million, or $1.53 per share, in the year ago period. Adjusted earnings-per-share was $0.07 below estimates.

Pharmaceutical sales of $41.4 billion was a 17% increase year-over-year, while segment profit if $487 million was down 5%.

Revenue for the Medical segment decreased 7% to $3.9 billion while segment profit decreased 66% to

$59 million. A divestiture was the main headwind to top-line decline. Inflationary pressures and supply chain constraints were a drag on profits.

The Pharmaceutical segment makes up the lion’s share of revenues, but the Medical segment remains important due to its higher margins and growth potential.

Cardinal Health again updated its fiscal 2022 outlook, now anticipating $5.15 to $5.25 in adjusted EPS.

Click here to download our most recent Sure Analysis report on Cardinal Health

High Yield Dividend Aristocrat #12: Amcor plc (AMCR)

  • Dividend Yield: 3.9%

Amcor is one of the world’s most prominent designers and manufacturers of packaging for food, pharmaceutical, medical, and other consumer products. The company is headquartered in the U.K.

Amcor reported its third-quarter results for Fiscal Year (FY)2022 on May 3rd.

Sales were up 15.6% for the quarter compared to the third quarter of FY2021. This quarter, sales went from $3,207 million in 3Q2021 to $3,706 million, driven by price increases.

Sales for the first nine months of the fiscal year were up 11% compared to the first nine months of FY2021.

On a comparable, constant currency basis, the first nine months’ net sales were 3% higher than the same period last year. Overall, the first nine months’ volumes for the Amcor Group were 1% higher than the same period the previous year, and price/mix had a favorable impact on net sales of 2%.

Net income was also up slightly by 0.7% versus the third quarter of the last fiscal year and up 1.8% for the first nine of the year compared to the first nine months of FY2021.

For the nine months, adjusted EPS of $0.56 per share, up 11% on a comparable, constant currency basis compared to $0.51 per share earned for the nine months of FY2021.

Click here to download our most recent Sure Analysis report on Amcor

High Yield Dividend Aristocrat #11: Chevron Corporation (CVX)

  • Dividend Yield: 4.0%

Chevron is the third–largest oil major in the world. In 2021, Chevron generated 84% of its earnings from its upstream segment.

The company has increased its dividend for over 40 consecutive years.

In late April, Chevron reported (4/29/22) financial results for the first quarter of fiscal 2022.

It cut its production by -2% over last year’s quarter but greatly benefited from the rally of oil and gas prices to 13-year highs, which resulted from the sanctions of western countries on Russia for its invasion in Ukraine.

As a result, the oil major grew its adjusted earnings-per-share 31% sequentially, from $2.56 to $3.36, a nearly all-time high.

As we do not expect sanctions to be withdrawn anytime soon, we expect oil and gas prices to remain excessive this year and thus we have raised our forecast for the annual earnings-per-share of Chevron from $9.90 (our forecast before the war) to $16.40.

Click here to download our most recent Sure Analysis report on CVX

High Yield Dividend Aristocrat #10: ExxonMobil Corporation (XOM)

  • Dividend Yield: 4.1%

Exxon Mobil is a diversified energy giant with a market capitalization above $300 billion.

In 2021, the upstream segment generated 62% of the total earnings of Exxon while the downstream and chemical segments generated 8% and 30% of the total earnings, respectively.

In late April, Exxon reported (4/29/22) financial results for the first quarter of fiscal 2022. Its production dipped -4% sequentially due to weather and maintenance but the oil giant greatly benefited from the rally of the prices of oil and gas to 13-year highs, which resulted from the sanctions of western countries on Russia for its invasion in Ukraine.

Nevertheless, Exxon grew its adjusted earnings-per-share only 1% sequentially, from $2.05 to $2.07, and missed the analysts’ consensus by $0.16.

The disappointing performance was caused mostly by losses from hedges in the downstream business. However, given the 13-year high prices of oil and gas, we expect Exxon to post much higher earnings in the upcoming quarters and thus we have raised our forecast for earnings-per-share this year from $7.00 (our forecast before the war) to $10.10.

Moreover, Exxon announced a $30 billion share repurchase program for 2022-2023.

Click here to download our most recent Sure Analysis report on Exxon Mobil

High Yield Dividend Aristocrat #9: T. Rowe Price Group (TROW)

  • Dividend Yield: 4.1%

T. Rowe Price Group is one of the largest publicly traded asset managers.

The company provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans and financial intermediaries. T. Rowe Price had assets under management of $1.69 trillion as of December 31st, 2021.

On February 9th, 2021, T. Rowe Price declared a $1.08 quarterly dividend, representing a 20.0% increase and marking the company’s 35th year of increasing its payout.

On April 28th, 2022, T. Rowe Price reported first quarter results for the period ending March 31st, 2022. Revenue grew 1.6% to $1.86 billion, in-line with estimates.

Adjusted earnings-per-share of $2.62 compared to $3.01 in the prior year and was $0.14 below expectations.

During the quarter, assets under management (AUM) declined $136 billion to $1.55 trillion. Net outflows totaled $5.3 billion as inflows to multi-asset, fixed income, and alternative products of $6.7 billion, $5.3 billion, and $800 million, respectively, were more than offset by $18.1 billion of outflows and market volatility.

Operating expenses increased 5.6% to $986 million.

Click here to download our most recent Sure Analysis report on T. Rowe Price

High Yield Dividend Aristocrat #8: Realty Income (O)

  • Dividend Yield: 4.3%

Realty Income is a retail-focused REIT that owns more than 6,500 properties. It owns retail properties that are not part of a wider retail development (such as a mall), but instead are standalone properties.

This means that the properties are viable for many different tenants, including government services, healthcare services, and entertainment.

The company’s long history of dividend payments and increases is due to its high-quality business model and diversified property portfolio.

Realty Income announced its first quarter earnings results on May 4. The trust reported that it generated revenues of $810 million during the quarter, which was 82% more than the revenues that Realty Income generated during the previous year’s quarter.

Realty investments into new properties and its acquisition of VEREIT that closed in late 2021 impacted the year-over-year comparison to a large degree.

Realty Income’s funds-from-operations rose substantially versus the prior year’s quarter, although AFFO-per-share growth was lower, due to share issuance.

Realty Income nevertheless managed to generate funds-from-operations-per share of $0.98 during the quarter. Realty Income expects that its results during 2022 will represent a new record, as funds from operations are forecasted to come in at ~$3.97 on a per-share basis during fiscal 2022.

Realty Income’s acquisition of VEREIT, which closed last November, is responsible for the majority of the forecasted growth in this year’s results, despite the dilution that was caused by the shares that were issued for the takeover.

Click here to download our most recent Sure Analysis report on Realty Income

High Yield Dividend Aristocrat #7: V.F. Corp. (VFC)

  • Dividend Yield: 4.4%

V.F. Corporation is one of the world’s largest apparel, footwear and accessories companies. The company’s brands include The North Face, Vans, Timberland and Dickies.

The company, which has been in existence since 1899, generated over $11 billion in sales in the last 12 months.

In mid-May, V.F. Corp reported (5/19/22) financial results for the fourth quarter of fiscal 2022.

Revenue and organic revenue grew 9% and 12%, respectively, over the prior year’s quarter, driven by the EMEA and North American regions, which experienced a negative impact from the pandemic in the prior year’s period.

Adjusted earnings-per-share grew 67%, from $0.27 to $0.45, but missed analysts’ consensus by $0.02. For the new fiscal year, V.F. Corp expects revenue growth of at least 7% and adjusted earnings-per-share of $3.30 to $3.40.

Click here to download our most recent Sure Analysis report on V.F. Corp.

High Yield Dividend Aristocrat #6: Federal Realty Investment Trust (FRT)

  • Dividend Yield: 4.4%

Federal Realty was founded in 1962. As a Real Estate Investment Trust, Federal Realty’s business model is to own and rent out real estate properties. It uses a significant portion of its rental income, as well as external financing, to acquire new properties. This helps create a “snow-ball” effect of rising income over time.

Federal Realty primarily owns shopping centers. However, it also operates in redevelopment of multi-purpose properties including retail, apartments, and condominiums. The portfolio is highly diversified in terms of tenant base.

Federal Realty reported Q1 earnings on 05/05/22. FFO per share came in at $1.50, up from $1.17 in the year-ago quarter. Total revenue increased 17.7% to $256.77M year-over-year. Net income available for common shareholders stood at $0.63, up from $0.60 in the year-ago period. During the quarter, Federal Realty continued record levels of leasing with 119 signed leases for 444,398 square feet of comparable space.

The trust’s portfolio, during the quarter, was 91.2% occupied and 93.7% leased, up by 170 basis points and 190 basis points, respectively, year-over-year. That said, the trust maintained a 250 basis points spread between occupied and leased. Moreover, small shop leased rate was 88.7%, up by 130 basis points quarter-over-quarter. Federal Realty also reported Q1 comparable property operating income growth of 14.5%.

Meanwhile, the company raised its 2022 earnings per share guidance to $2.36-$2.56 from $2.30-$2.50 and FFO per diluted share guidance to $5.85-$6.05 from $5.75-$5.95.

Click here to download our most recent Sure Analysis report on Federal Realty

High Yield Dividend Aristocrat #5: 3M Company (MMM)

  • Dividend Yield: 4.6%

3M sells more than 60,000 products that are used every day in homes, hospitals, office buildings and schools around the world. It has about 95,000 employees and serves customers in more than 200 countries.

3M is now composed of four separate divisions. The Safety & Industrial division produces tapes, abrasives, adhesives and supply chain management software as well as manufactures personal protective gear and security products.

The Healthcare segment supplies medical and surgical products as well as drug delivery systems.

Transportation & Electronics division produces fibers and circuits with a goal of using renewable energy sources while reducing costs. The Consumer division sells office supplies, home improvement products, protective materials and stationary supplies.

On April 26th, 2022, 3M reported first quarter earnings results for the period ending March 31st, 2022. Revenue fell 0.3% to $8.8 billion, but was $50 million better than expected.

Adjusted earnings-per-share of $2.65 compared to $2.77 in the prior year, but was $0.34 above estimates. Organic growth for the quarter was 2%.

Safety & Industrial grew 0.5% due to strength in industrial adhesives and tapes, abrasives, and masking systems, though personal safety declined. Transportation & Electronics decreased by 0.3%. Commercial solutions growth was offset by a decline in transportation and safety.

Health Care grew 4.7%. Consumer was higher by 3.4% as demand for home care, stationery and office and home improvement products continues to be strong.

3M provided an updated outlook for 2022, with the company now expecting adjusted earnings-per-share of $10.75 to $11.25.

Click here to download our most recent Sure Analysis report on 3M

High Yield Dividend Aristocrat #4: International Business Machines (IBM)

  • Dividend Yield: 4.7%

IBM is a global information technology company that provides integrated enterprise solutions for software, hardware, and services.

IBM’s focus is running mission critical systems for large, multi-national customers and governments. IBM typically provides end-to-end solutions.

The company now has four business segments: Software, Consulting, Infrastructure, and Financing. IBM had annual revenue of ~$57.4B in 2021 (not including Kyndryl).

IBM reported stellar results for Q1 2022 on April 19th, 2021. Company-wide revenue increased 8% to $14,197M from $13,187M while diluted adjusted earnings per share rose 25% to $1.40 from $1.12 on a year-over-year basis. Diluted GAAP earnings per share rose 62% to $0.73 in the quarter from $0.45 in the prior year.

Revenue for Software increased 12.3% to $5,772M from $5,138M in comparable quarters due to 7% growth in Hybrid Platform & Solutions and a 26% increase in Transaction Processing. Revenue was up 18% for RedHat, 3% for Automation, 2% for Data & AI, and 5% for Security.

Consulting revenue increased 13.3% to $4,829M from $4,262M due to 15% rise in Business Transformation, 14% growth in Technology Consulting, and 10% growth in Application Operations.

The book-to-bill ratio is a healthy 1.1X. Revenue for Infrastructure was down 2.3% at $3,219M from $3,293M due to declines in Z (-19%) offset by 5% growth in Distributed Infrastructure, and flat in Infrastructure Support.

Click here to download our most recent Sure Analysis report on IBM

High Yield Dividend Aristocrat #3: Franklin Resources (BEN)

  • Dividend Yield: 4.9%

Franklin Resources is a global asset manager with a long and successful history.

The company offers investment management (which makes up the bulk of fees the company collects) and related services to its customers, including sales, distribution, and shareholder servicing.

On December 14th, 2021, Franklin Resources announced a $0.29 quarterly dividend, marking a 3.6% year-over-year increase and the company’s 42nd consecutive year of increasing its payment.

On May 3rd, 2022, Franking Resources reported Q2 fiscal year 2022 results for the period ending March 31st, 2022.

Total assets under management equaled $1.477 trillion, down $100.6 billion compared to last quarter, as a result of $81.8 billion of net market change, distributions, and other items, $11.7 billion of long-term nete outflows and $7.1 billion of cash management net outflows.

For the quarter, operating revenue totaled $2.081 billion. On an adjusted basis, net income equaled $491.6 million or $0.96 per share compared to $403.5 million or $0.79 per share in Q1 2021. During Q1, Franklin repurchased 2.7 million shares of stock for $80.8 million.

Click here to download our most recent Sure Analysis report on Franklin Resources

High Yield Dividend Aristocrat #2: Leggett & Platt (LEG)

  • Dividend Yield: 4.9%

Leggett & Platt is an engineered products manufacturer.

The company’s products include furniture, bedding components, store fixtures, die castings, and industrial products. Leggett & Platt has 14 business units and more than 20,000 employees. The company qualifies for the Dividend Kings as it has 50 years of consecutive dividend increases.

Leggett & Platt reported its first quarter earnings results on May 2. The company reported revenues of $1.32 billion for the quarter, which represents a 15% increase compared to the prior year’s quarter.

Revenues beat the consensus estimate by $60 million. The company’s revenue increase was stronger than the one recorded during the previous quarter, showcasing solid sales momentum.

Leggett & Platt generated earnings-per-share of $0.79 during the first quarter, which was stronger than the company’s earnings-per-share during the previous quarter, and which set a new record for a first quarter in the company’s history.

Leggett & Platt’s earnings-per-share for the quarter also beat the analyst consensus estimate by a pretty strong $0.23.

Management has reiterated its revenue guidance for the current fiscal year. The company is forecasting revenues of $5.3 billion to $5.6 billion, implying growth of 4%-10%. The earnings-per-share guidance range has been set at $2.70 to $3.00 for 2022.

Click here to download our most recent Sure Analysis report on Leggett & Platt

High Yield Dividend Aristocrat #1: Walgreens-Boots Alliance (WBA)

  • Dividend Yield: 5.1%

Walgreens Boots Alliance is the highest-yielding Dividend Aristocrat right now.

Walgreens Boots Alliance is the largest retail pharmacy in both the United States and Europe. Through its flagship Walgreens business and other business ventures, the company employs more than 325,000 people and has more than 13,000 stores.

Walgreens Boots Alliance is the largest retail pharmacy in both the United States and Europe. Through its flagship Walgreens business and other business ventures, the company employs more than 325,000 people and has more than 13,000 stores.

On June 30th, 2022, Walgreens reported Q3 results for the period ending May 31st, 2022.

Sales from continuing operations dipped -4% and adjusted earnings-per-share decreased -30% over the prior year’s quarter, from $1.37 to $0.96, mostly due to peak COVID-19 vaccinations in the prior year’s period. Earnings-per-share exceeded analysts’ consensus by $0.03.

The company has beaten analysts’ estimates for 8 consecutive quarters.

Walgreens reiterated its guidance for low-single digit growth of its annual earnings-per-share.

Click here to download our most recent Sure Analysis report on Walgreens

Final Thoughts on Highest Yielding Dividend Aristocrats

High dividend yields are hard to find in today’s investing climate. The average dividend yield of the S&P 500 Index has steadily fallen over the past decade, and is now just 1.4%.

Investors can find significantly higher yields, but many extreme high-yield stocks have questionable business fundamentals. Investors should be wary of stocks with yields above 10%.

Fortunately, investors do not have to sacrifice quality in the search for yield.

These 20 Dividend Aristocrats have market-beating dividend yields. But they also have high-quality business models, durable competitive advantages, and long-term growth potential.

You may also be looking to invest in dividend growth stocks with high probabilities of continuing to raise their dividends each year into the future.

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