Top 9 Dividend Stocks to Buy for 2024

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By: Aquib Nawab

Finance

British American Tobacco is transitioning to reduced-risk nicotine products, presenting a promising outlook despite recent challenges. With a dividend yield of 9.6%, investors should consider the company's future prospects in the tobacco industry.

1 - British American Tobacco PLC (BTI)

Credits: British American Tobacco, Instagram

UMC, one of the world's largest semiconductor foundries, offers strong growth prospects despite concerns over operating results and political tensions. With a generous dividend yield of 7.4%, UMC presents an appealing opportunity for investors.

2 - United Microelectronics Corp. (UMC)

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3 - Washington Trust Bancorp Inc. (WASH)

Washington Trust, an established regional bank, has a long track record of profitability and dividend payments. With shares expected to rebound amidst easing interest rates and a dividend yield of 7.7%, Washington Trust is an attractive investment option.

Credits: Watrustbank, Instagram

Verizon is experiencing a revival in the telecom industry with the completion of its 5G rollout and rationalization in the cable sector. Despite challenges, Verizon's stock remains in deep value territory, trading for less than nine times forward earnings. Investors can benefit from Verizon's attractive dividend yield of 6.8%.

4 - Verizon Communications Inc. (VZ)

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Diageo, a global alcohol producer, boasts a stable operation and a diverse brand portfolio. Trading at nearly the lowest price-to-earnings ratio since the 2008 financial crisis, Diageo presents a compelling buying opportunity. Investors should consider Diageo's growth potential in emerging markets and its dividend yield of 2.64%.

5 - Diageo PLC (DEO)

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6 - Wells Fargo & Co. (WFC)

Wells Fargo has undergone significant restructuring following scandals, with new management leading to improved profitability. Despite recent challenges, the bank's strong earnings performance, dividend increases, and stock buybacks make it an attractive investment. Investors should take note of Wells Fargo's dividend yield of 3%.

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OneMain, a consumer finance company, has a history of resilience and profitability, making it an attractive investment. With a low valuation and a dividend yield of 9%, investors can capitalize on the company's stability amidst uncertainty.

7 - OneMain Holdings Inc. (OMF)

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Duke Energy, a leading power utility, is well-positioned to benefit from the renewed interest in nuclear energy. With significant nuclear power generation capacity and a dividend yield of 4.3%, Duke Energy presents an attractive investment opportunity.

8 - Duke Energy Corp. (DUK)

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9 - Exxon Mobil Corp. (XOM)

Exxon Mobil, an energy giant, holds valuable reserves and geopolitical advantages. With shares trading near 52-week lows and a relative bargain compared to the market, Exxon Mobil presents an opportunity for investors to capitalize on its dividend yield of 3.74%.

Credits: Exxonmobil, Instagram

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