Top US Dividend Stocks To Watch In October 2024

As the U.S. stock market experiences a surge, buoyed by strong earnings from banks and a rebound in tech stocks like Nvidia, the Dow Jones Industrial Average has reached new record highs. In this dynamic environment, dividend stocks can offer investors stability and income through regular payouts, making them an attractive option amidst market volatility.

Top 10 Dividend Stocks In The United States

Name	Dividend Yield	Dividend Rating
WesBanco (NasdaqGS:WSBC)	4.59%	★★★★★★
Columbia Banking System (NasdaqGS:COLB)	5.20%	★★★★★★
Peoples Bancorp (NasdaqGS:PEBO)	5.00%	★★★★★★
Dillard's (NYSE:DDS)	5.44%	★★★★★★
Silvercrest Asset Management Group (NasdaqGM:SAMG)	4.48%	★★★★★★
Premier Financial (NasdaqGS:PFC)	4.99%	★★★★★★
Financial Institutions (NasdaqGS:FISI)	4.52%	★★★★★★
Ennis (NYSE:EBF)	4.68%	★★★★★★
Chevron (NYSE:CVX)	4.38%	★★★★★★
First Interstate BancSystem (NasdaqGS:FIBK)	5.78%	★★★★★★

Click here to see the full list of 163 stocks from our Top US Dividend Stocks screener.

Below we spotlight a couple of our favorites from our exclusive screener.

CVB Financial (NasdaqGS:CVBF)

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

Overview: CVB Financial Corp. is a bank holding company for Citizens Business Bank, offering banking and financial services to small to mid-sized businesses and individuals, with a market cap of approximately $2.75 billion.

Operations: CVB Financial Corp. generates revenue primarily from its banking segment, amounting to $527.11 million.

Dividend Yield: 4.1%

CVB Financial offers a reliable dividend, recently affirming a US$0.20 per share payout for Q3 2024. Its dividends are well-covered by earnings with a current payout ratio of 54.4%, ensuring sustainability and stability over the past decade. Despite trading below its estimated fair value, CVB's dividend yield of 4.07% is slightly lower than the top quartile in the U.S., but it remains attractive due to consistent growth and coverage forecasts remaining stable at around 53.6%.

• Get an in-depth perspective on CVB Financial's performance by reading our dividend report here.
• Insights from our recent valuation report point to the potential undervaluation of CVB Financial shares in the market.

Mercantile Bank (NasdaqGS:MBWM)

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

Overview: Mercantile Bank Corporation, with a market cap of $749.59 million, operates as the bank holding company for Mercantile Bank of Michigan, offering commercial and retail banking services to small- to medium-sized businesses and individuals in the United States.

Operations: Mercantile Bank Corporation generates revenue primarily through its banking segment, amounting to $222.19 million.

Dividend Yield: 3.1%

Mercantile Bank's dividends have been stable and growing over the past decade, with a recent increase of nearly 6% to US$0.36 per share for Q4 2024. The payout ratio remains low at 28.2%, indicating well-covered dividends by earnings, which are forecasted to remain sustainable despite a slight decline in net income and earnings per share compared to last year. Although its dividend yield of 3.1% is below the top U.S. quartile, it trades significantly below its estimated fair value, offering potential relative value for investors seeking reliable income streams.

• Click to explore a detailed breakdown of our findings in Mercantile Bank's dividend report.
• According our valuation report, there's an indication that Mercantile Bank's share price might be on the cheaper side.

Carter's (NYSE:CRI)

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

Overview: Carter's, Inc. designs, sources, and markets branded childrenswear under various brands such as Carter's and OshKosh in the United States and internationally, with a market cap of approximately $2.43 billion.

Operations: Carter's, Inc. generates revenue through its U.S. Retail segment at $1.45 billion, U.S. Wholesale at $1 billion, and International operations totaling $418.19 million.

Dividend Yield: 4.8%

Carter's dividend payments have been historically volatile, yet they remain well-covered by earnings and cash flows, with payout ratios of 47.7% and 32.7%, respectively. Despite a recent affirmation of an US$0.80 per share dividend, the company's track record raises concerns about sustainability. The dividend yield stands at 4.75%, placing it among the top U.S. payers, but declining revenue forecasts may impact future payouts amidst a competitive price-to-earnings ratio of 10.4x against the market average.

• Click here to discover the nuances of Carter's with our detailed analytical dividend report.
• Our valuation report here indicates Carter's may be overvalued.

Taking Advantage

• Reveal the 163 hidden gems among our Top US Dividend Stocks screener with a single click here.
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Interested In Other Possibilities?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

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.

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