Dogs Of The Dow: Top 10 Highest Yielding Dow Jones Stocks, How To Get Dividends Of 3% to 7.4% In 2024
Portfolio Pulse from Chris Katje
The article discusses the 'Dogs of the Dow' investment strategy, focusing on the highest-yielding Dow Jones Industrial Average stocks for 2024. It highlights the performance of the Dow Jones in 2023, which gained 14%, and lists the top 10 dividend-yielding stocks, with Walgreens Boots Alliance and Verizon Communications at the top. It also notes that 28 out of 30 Dow components pay dividends, with Salesforce and Boeing being the exceptions. The average dividend yield of these top 10 stocks is 4.28%, compared to the entire Dow's 2.54% and the SPDR S&P 500 ETF Trust's 1.6% yield.
January 02, 2024 | 6:22 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) has a lower dividend yield of 1.6% compared to the Dow's average.
While SPY's dividend yield is lower than the Dow's, it remains a popular choice for investors seeking broad market exposure.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Amgen Inc provides a 3.12% dividend yield and saw a positive stock performance of 9.7% in 2023.
Amgen's decent dividend yield and positive stock performance could make it a balanced choice for income and growth investors.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
Cisco Systems offers a 3.09% dividend yield and had a 6.0% increase in stock performance in 2023.
Cisco's dividend yield, coupled with stock growth, could appeal to investors looking for a mix of income and capital appreciation.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
Chevron Corporation has a 4.05% dividend yield but experienced a 16.9% decline in stock performance in 2023.
The high dividend yield may help to mitigate the impact of the stock's decline, potentially attracting dividend investors.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Dow Jones Industrial Average ETF (DIA) represents the entire index and can be an alternative to picking individual stocks.
The ETF's exposure to the Dow and its dividend yield could attract investors looking for diversified income.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Dow Inc has a 5.11% dividend yield and saw its stock increase by 8.8% in 2023.
The combination of a high dividend yield and positive stock performance could make Dow Inc an attractive option for investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
IBM offers a 4.06% dividend yield and had a strong stock performance, up 16.1% in 2023.
IBM's solid dividend yield and significant stock appreciation could continue to attract both growth and income investors.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Johnson & Johnson has a 3.04% dividend yield but saw its stock decrease by 11.3% in 2023.
The healthcare giant's dividend yield may attract investors, potentially providing some stability despite the stock's decline.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
Coca-Cola Co has a 3.12% dividend yield, with its stock down by 7.4% in 2023.
Coca-Cola's strong brand and consistent dividend may continue to attract investors, even with the stock's downturn.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
3M Company provides a 5.4% dividend yield, with its stock down by 8.8% in 2023.
Despite the stock's decline, the high dividend yield may draw investors looking for steady income streams.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Verizon Communications has a 7.06% dividend yield with a slight stock performance decrease of 4.3% in 2023.
The substantial dividend yield could be appealing to investors, potentially improving the stock's attractiveness despite a small decline.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Walgreens Boots Alliance offers the highest dividend yield at 7.35% among the Dow stocks, despite a 30.1% decline in stock performance in 2023.
The high dividend yield may attract income-focused investors, potentially offsetting the negative performance from the previous year.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90