{"id":51868,"date":"2023-08-23T04:09:40","date_gmt":"2023-08-23T08:09:40","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/7-dividend-yields-the-6-best-payouts-in-the-sp-500\/"},"modified":"2023-08-23T04:09:42","modified_gmt":"2023-08-23T08:09:42","slug":"7-dividend-yields-the-6-best-payouts-in-the-sp-500","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=51868","title":{"rendered":"7% Dividend Yields: The 6 Best Payouts in the S&#038;P 500"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000726510\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>Money-market funds and Treasury bills are offering strong competition for high-dividend stocks with short-term rates above 5%, but they aren\u2019t the only game in town.<\/p>\n<p>There are a group of stocks that comfortably exceed the 5.4% yield on T-bills and also trade cheaply, for less than 10 times projected 2023 earnings per share.<\/p>\n<div class=\"paywall\">\n<p>They are the six highest-yielding stocks in the S&amp;P 500:<br \/>\n        Altria<br \/>\n       (ticker: MO),<br \/>\n        Verizon Communications<br \/>\n       (VZ),<br \/>\n        AT&amp;T<br \/>\n       (T),<br \/>\n        KeyCorp<br \/>\n       (KEY),<br \/>\n        Truist Financial<br \/>\n       (TFC), and<br \/>\n        Walgreen Boots Alliance<br \/>\n       (WBA) . All six stocks are in the red this year with Key, Truist and Walgreens down by more than 25%.<\/p>\n<p>Altria yields 8.8%; Verizon and AT&amp;T, 7.9%; KeyCorp, 7.5%; and Truist and Walgreens, 7.3%. They are the only stocks in the S&amp;P 500 with yields above 7%.<\/p>\n<p>With outsize yields comes some risk, but all six companies cover their dividends  comfortably. Managements remain committed to making the payouts.\u00a0<\/p>\n<p>Altria, whose shares trade around $43, fetches about nine times projected 2023 earnings of $5 a share.\u00a0 The company takes its outsize dividend seriously and aims to increase it at a mid-single digit annual rate as it transitions its business toward smoke-free products. <\/p>\n<p>Its low valuation reflects concerns about its core cigarette business, which is led by Marlboro, given continuing declines in sales volume. The ultimate profitability of the smoke-less ventures is a second worry.<\/p>\n<p>In recent years, Altria has increased its payout in August, so a dividend boost could be coming soon. The Bloomberg consensus calls for a boost in the quarterly payout to 98 cents from 94 cents this month.<\/p>\n<p>AT&amp;T and Verizon shares, at around $14 and $33, respectively, are down over 15% this year. Two factors are behind that: worry about competitive pressure in wireless and more recently, potential liabilities from lead in old underground cables, a concern raised by reporting in The Wall Street Journal.\u00a0<\/p>\n<p><em>Barron\u2019s\u00a0<\/em>has argued<em>\u00a0<\/em>that the dividends look safe, and that is the view of management as well. Verizon talked about potential dividend increases on its earnings conference call in July. <\/p>\n<p>Key and Truist, meanwhile, have been hammered along with other regional bank stocks this year. Key shares trade around $11, and Truist at $34.<\/p>\n<p>Their second-quarter earnings disappointed analysts at KBW, but both put a priority on their dividends. Truist, in particular, covers its payout comfortably. Both stocks trade for about nine times projected 2023 earnings and have good regional banking franchises.<\/p>\n<p>Walgreen also has had a disappointing year. In June, the company cut its forecast for profit for the 2023 fiscal year by more than 10% to about $4 a share. The stock is so out of favor that it trades for about seven times the earnings expected for the fiscal year ending this month.\u00a0<\/p>\n<p>James Kehoe, the chief financial officer, said on the most recent earnings conference call in June that the company is \u201cvery committed to maintaining our investment-grade (credit) rating and our dividend.\u201d<\/p>\n<p>All six stocks offer nice yields. They could amount to turnaround stories in a market skeptical of their prospects.<\/p>\n<p>Write to Andrew Bary at andrew.bary@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/7-dividend-yields-67067bd4?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Money-market funds and Treasury bills are offering strong competition for high-dividend stocks with short-term rates above 5%, but they aren\u2019t the only game in town. There are a group of stocks that comfortably exceed the 5.4% yield on T-bills and also trade cheaply, for less than 10 times projected 2023 earnings per share. They are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":51869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-51868","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>7% Dividend Yields: The 6 Best Payouts in the S&amp;P 500 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Money-market funds and Treasury bills are offering strong competition for high-dividend stocks with short-term rates above 5%, but they aren\u2019t the only\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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