Exploring Top Dividend Stocks In June 2024

Simply Wall St · 06/03 11:09

Over the past year, the United States stock market has seen a robust increase of 23%, with earnings expected to grow by 15% annually. In this stable yet growing environment, dividend stocks stand out as particularly appealing for their potential to provide investors with steady income alongside capital appreciation.

Top 10 Dividend Stocks In The United States

Name Dividend Yield Dividend Rating
Columbia Banking System (NasdaqGS:COLB) 7.47% ★★★★★★
Resources Connection (NasdaqGS:RGP) 4.89% ★★★★★★
Silvercrest Asset Management Group (NasdaqGM:SAMG) 4.97% ★★★★★★
Regions Financial (NYSE:RF) 4.96% ★★★★★★
Citizens Financial Group (NYSE:CFG) 4.76% ★★★★★★
CompX International (NYSEAM:CIX) 4.98% ★★★★★★
Ennis (NYSE:EBF) 4.76% ★★★★★★
Peoples Bancorp (NasdaqGS:PEBO) 5.49% ★★★★★☆
Credicorp (NYSE:BAP) 5.68% ★★★★★☆
Marine Products (NYSE:MPX) 5.47% ★★★★★☆

Click here to see the full list of 207 stocks from our Top Dividend Stocks screener.

Here's a peek at a few of the choices from the screener.

Norwood Financial (NasdaqGM:NWFL)

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Norwood Financial Corp., serving as the bank holding company for Wayne Bank, offers a range of banking products and services with a market capitalization of approximately $203.81 million.

Operations: Norwood Financial Corp. generates $64.28 million in revenue from its banking and related financial services segment.

Dividend Yield: 4.7%

Norwood Financial has demonstrated a commitment to returning value to shareholders through stable and growing dividends, evidenced by a 3.5% increase in its quarterly cash dividend to US$0.30 per share as of April 2024. Despite facing a dip in net interest income and net income in Q1 2024, the company maintains a high dividend yield of 4.74%, placing it among the top quartile of US dividend payers. Recent filings for shelf registrations suggest potential future capital raising activities, which could support ongoing dividend payments or other shareholder returns strategies. However, reduced profit margins year-over-year highlight some financial pressures that could impact future sustainability.

NasdaqGM:NWFL Dividend History as at Jun 2024
NasdaqGM:NWFL Dividend History as at Jun 2024

Carter's (NYSE:CRI)

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Carter's, Inc. designs, sources, and markets children's apparel under various brands including Carter's and OshKosh, operating both in the United States and internationally with a market capitalization of approximately $2.50 billion.

Operations: Carter's, Inc. generates its revenue primarily through three segments: U.S. Retail ($1.49 billion), U.S. Wholesale ($998.73 million), and International ($426.78 million).

Dividend Yield: 4.7%

Carter's, Inc. recently affirmed a quarterly dividend of US$0.80 per share, reflecting a commitment to shareholder returns despite a modest yield of 4.68%, slightly below the top quartile of US dividend stocks. The company's dividends appear sustainable with an earnings payout ratio at 48.1% and cash payout ratio at 29%. However, Carter's has experienced volatility in its dividend payments over the past decade, indicating some level of uncertainty in future payouts. Additionally, Q1 2024 showed a slight decline in sales but an increase in net income and EPS from the previous year, suggesting operational resilience.

NYSE:CRI Dividend History as at Jun 2024
NYSE:CRI Dividend History as at Jun 2024

Exxon Mobil (NYSE:XOM)

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Exxon Mobil Corporation, a global leader in the exploration and production of crude oil and natural gas, operates both in the United States and internationally, with a market capitalization of approximately $462.28 billion.

Operations: Exxon Mobil Corporation's revenue is derived from several key segments: in the United States, they generate $30.92 billion from upstream operations, $16.18 billion from chemicals, $128.34 billion from energy products, and $8.49 billion from specialty products; internationally, the figures are $53.78 billion for upstream operations, $18.16 billion for chemicals, $191.99 billion for energy products, and $12.84 billion for specialty products.

Dividend Yield: 3.2%

Exxon Mobil's recent shareholder meeting underscored a stable but challenged governance landscape, with key proposals on pay equity and environmental reporting defeated. Despite this, the company maintains a dividend of US$0.95 per share, supported by a conservative payout ratio of 45.7% and cash flows covering 46.7% of dividends. However, its dividend yield at 3.24% trails the top quartile in the U.S., reflecting potential concerns over growth and governance amidst modest earnings projections of 3.45% annual increase.

NYSE:XOM Dividend History as at Jun 2024
NYSE:XOM Dividend History as at Jun 2024

Taking Advantage

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.