Here are the top 10 S&P 500 stocks with a high dividend yield

Summary

• Dividend stocks allow investors to enjoy a stable income and the dividend yield is a good measure of how steadily the stock may be growing.
• The stocks of Coterra Energy and Lincoln National Corp have a dividend yield higher than 8%.
• Some of the other S&P 500 companies that trade for less than US$50 and have a high dividend yield include Altria Group, KeyCorp and Verizon.

Dividend stocks offer investors an additional security tier when investing in the stock market. Consistently growing dividends are an even better investment avenue for investors. The dividend yield allows investors to examine whether the company issuing the stock has been increasing its dividend over time.

A high dividend yield can imply that the company is consistently offering higher dividends. However, before analyzing a stock solely based on the dividend yield, investors should also keep a check on the stock price and its changes over a given period.

Sometimes dividend yield can also increase due to a decrease in stock price, which may not be an ideal investment choice for investors. Here is a list of ten high-yield dividend stocks that are priced under US$ 50.

Coterra Energy Inc. (NYSE: CTRA)

Coterra is engaged in the energy sector with a focus on hydrocarbon exploration. At year-end 2022, the company held 2.4 billion barrels of oil equivalent. The company was formed after a merger with Cabot and Cimarex in 2021.

Coterra stock has a dividend yield of 9.94%.

The stock closed at US$ 24.69 on April 26, 2023.

During Q4 2022, Coterra reported a total revenue of US$ 2.28 billion and an EBITD of US$ 1.29 billion.

Lincoln National Corp. (NYSE: LNC)

The company is engaged in various insurance and retirement businesses. The core businesses of Lincoln National Corporation include annuities, life insurance, services for retirement planning, among others. LNC is a Fortune 500 company and pays its investors an annualized dividend of US$ 1.80.

LNC has a dividend yield of 8.80%.

The stock closed at US$ 20.47 on April 26, 2023.

During the fourth quarter of 2022, Lincoln National reported a total revenue of US$ 4.17 billion and an EBIT of US$ 24 million. The company also reported cash and cash equivalents of US$ 3.34 billion during the December 2022 quarter.

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Altria Group, Inc. (NYSE: MO)

The company holds tobacco subsidiaries that have made it one of the leading producers of cigarettes and smokeless tobacco in the US. Additionally, the company is the second largest producer of machine-made cigars. Marlboro is one of the company’s most recognizable brands, which is a leading cigarette brand in the US.

Altria offers its investors an annualized dividend of US$ 3.76.

Altria has a dividend yield of 8% and its stock closed at a price of US$ 46.69 on April 26, 2023.

The company’s total revenue during the December 2022 quarter was US$ 6.11 billion. Meanwhile, Altria reported an operating income of US$ 2.18 billion during the period.

KeyCorp (NYSE: KEY)

The company is a bank-based financial services company. KeyCorp operates through a community/corporate bank model, with an asset holding of over US$ 170 billion. The company operates across 16 states.

KeyCorp has a dividend yield of 7.82%.

The KEY stock closed at a price of US$ 10.56 on April 26, 2023.

The company’s total revenue during the December 2022 quarter was US$ 2.36 billion with cash and cash equivalents of US$ 49.5 billion.

Newell Brands Inc (NASDAQ: NWL)

Newell is a consumer goods company with five major segments, including Commercial Solutions, Learning, Home Appliances and Development, Outdoor and Recreation and Home Solutions.

The company offers investors an annualized dividend of US$ 0.92 and has a dividend yield of 7.73%.

The NWL stock closed at a price of US$ 11.86 on April 26, 2023.

The company’s total revenue during the December 2022 quarter was US$ 2.28 billion and its EBIT was negative US$ 285 million.

Verizon Communications Inc. (NYSE: VZ)

Verizon is a stellar provider of wireless communication services. The company has an extensive customer base of 93 million postpaid users and 23 million prepaid users. The company’s fixed-line telecom operations reach around 25 million homes and businesses.

The company pays an annualized dividend of US$ 2.61. The stock’s dividend yield stands at 7%.

The stock closed at a price of US$ 36.92 on April 26, 2023.

Verizon’s total revenue during the December 2022 quarter was US$ 35.25 billion.

Comerica Inc. (NYSE: CMA)

The company is a financial services firm with a primary focus on relationship-based commercial banking. The company’s primary geographies include California and Michigan with its businesses spanning across Canada as well.

Comerica stock has a dividend yield of 6.98%.

The CMA stock closed at US$ 40.62 on April 26, 2023.

Comerica reported a total revenue of US$ 1.15 billion during the December 2022 quarter. The company’s EBIT during the period was US$ 502 million.

Truist Financial Corp. (NYSE: TFC)

Based in North Carolina, Truist is a regional bank that offers services such as retail banking and investment banking. It also has an insurance business, with some other nonbank segments as well.

Truist Financial stock has a dividend yield of 6.84%.

The Truist Financial stock closed at US$30.6 on April 26, 2023.

The banking giant reported a total revenue of US$ 7.46 billion during the December 2022 quarter.

Kinder Morgan Inc (NYSE: KMI)

KMI operates in the industry sector with its primary operations involving transportation, storage and processing of natural gas, crude oil, natural gas and carbon dioxide. The company draws in most of it cash flow from fee-based contracts for handling fossil fuel products.

The KMI stock has a dividend yield of 6.49%.

The stock closed at a price of US$17.21 on April 26, 2023.

The energy company reported a total revenue of US$ 3.88 billion during the March 2023 quarter.

AT&T Inc. (NYSE: T)

AT&T falls in the same segment as Verizon and is a wireless communications services provider. It is the third-largest provider of wireless carrier service in the US, with 70 million postpaid customers and 18 million prepaid customers.

The AT&T stock has a dividend yield of 6.34%.

AT&T stock closed at US$17.20 on April 26, 2023.

The company’s total revenue during the December 2022 quarter was US$ 31.34 billion.