Looking for Passive Income? Here are 10 Best Dividend Stocks For 2021

Summary

• AbbVie stock jumped 30% in the last six months; It pays an annual dividend of US$5.2.
• The IMB stock saw 26% jump in value in the same period; it pays an annual dividend of US$6.56.
• Oneok stocks soared more than 80% during the period. It pays an annual dividend of US$3.74.

Given the financial insecurities brought by the widespread pandemic-fuelled economic disruptions, a steady passive income would be an attractive option for most people. Dividend-paying stocks with a proven track record can be the best bet for income investing.

While treasury bonds may be implausible for most investors due to their typically low yield, other income options may require close involvement, which may impede those already in jobs. Moreover, stock investments, for a long-term hold, do not require one’s frequent participation, which saves time and helps investors to focus on other important aspects of their life.

Here are 10 high-paying dividend shares that stock market enthusiasts may consider in 2021.

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Chevron Corporation (NYSE:CVX)

This multinational American energy company is headquartered in San Ramon, California. The energy industry is likely to make a strong comeback this year following the covid onslaught. Energy stocks have seen a considerable recovery in recent times as the world economy began to reopen.

Chevron shares soared nearly 50% in the last six months. It has a dividend yield of 4.9% and the company pays an annual dividend of US$5.36.

The stock was trading at US$103.68 apiece at 1:16 pm ET on Friday, April 30. 

AbbVie Inc. (NYSE:ABBV)

AbbVie is one of the leading drug manufacturers in the US. Headquartered in Chicago, Illinois, its top profit-making product is the cancer drug Humira. It also has a range of drugs related to women's health and aesthetics.

Already on a strong wicket after its good show last year, AbbVie is set to gain more from President Biden’s drug policies, which emphasize removing infrastructural and financial bottlenecks for attaining drug self-sufficiency and better healthcare. AbbVie stocks jumped 30% in six months.

It has a dividend yield of 4.65% and the company pays an annual dividend of US$5.2.

The stock was trading at US$111.48 apiece at 1:25 pm ET on Friday, April 30. 

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International Business Machines Corporation (NYSE:IBM)

It is one of the world’s leading computer companies headquartered in New York. IBM sells software and IT services and more than 90% of its clients are Fortune 500 companies across geographies. Tech companies have performed remarkably well through the pandemic and there is no sign of slowing down. IBM’s is business is likely to improve further with the easing of pandemic restrictions globally.

IMB stocks gain 26% in value in the last six months.

It has a dividend yield of 4.56%, and the company pays an annual dividend of US$6.56 to its shareholders. The stock was trading at US$141.26 apiece at 1:57 pm ET on Friday, April 30. 

JPMorgan Chase & Co. (NYSE:JPM)

This multinational investment bank and financial services company is headquartered in New York. With more than US$3 trillion in assets, it is one of the largest such institutions in the US.

The company has performed well over the years, and one of the few financial companies that managed to circumvent the pandemic constraints.

Its business deals with a wide range of baking needs covering corporate, consumer, and community, as well as asset and wealth management, among others. JPM gained more than 56% in six months.

It has a dividend yield of 2.36%, and the company pays an annual dividend of US$3.6.

The stock was trading at US$153.62 at 2:00 pm ET on Friday, April 30.

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Oneok Inc. (NYSE:OKE)

Oneok is one of the leading oil and natural gas companies in the US, headquartered in Tulsa, Oklahoma. It owns a significant number of assets in the country’s Rocky Mountain region. Oneok is one of the energy companies that could manage the covid crisis relatively well.

With the opening of the economy, Oneok is set to gain, especially as the US government shifts its focus to emissions-free energy resources.

Oneok stocks soared more than 80% in the last six months. It has a dividend yield of 7.17%, and the company pays an annual dividend of US$3.74.

The stock was trading at US$52.36 at 2:16 pm ET on Friday, April 30.

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Altria Group (NYSE:MO)

It is one of the world’s largest tobacco companies headquartered in Richmond, Virginia. It owns several assets and brands such as Philip Morris USA, John Middleton, and Philip Morris Capital. It also produces a range of cigars. It has been one of the high-performing tobacco companies.

Altria stocks gained 30% in the last six months. It has a dividend yield of 7.29%, and the company pays an annual dividend of US$3.44.

The stock was trading at US$47.51 at 2:45 pm ET on Friday, April 30.

Pic credit: Pixabay.

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Iron Mountain Inc. (NYSE:IRM)

Iron Mountain is one of the leading information management services providers headquartered in Boston, Massachusetts. Most of its revenues come from Global RIM, one of its data management/storage businesses. It caters to corporate clients in various countries, besides the US. Iron Mountain is one of the best-performing companies in this industry sector.

Its stocks gained 50% in the last six months. It has a dividend yield of 6.26%, and the company pays an annual dividend of US$2.474.

The stock was trading at US$40.08 at 2:48 pm ET on Friday, April 30.

AT&T Inc. (NYSE:T)

AT&T is a major multinational American conglomerate headquartered in Delaware, Texas. It has a range of businesses related to telecommunications. It is also the second-largest wireless carrier in the US, covering more than 100 million devices.

It also owns several media assets, such as HBO, Warner Brothers studios, and the Turner cable networks, and has extensive telecommunication operations in Latin America.

AT&T stocks gained 14% in the last six months. It has a dividend yield of 6.76%, and the company pays an annual dividend of US$2.08.

The stock was trading at US$31.31 at 2:53 pm ET on Friday, April 30.

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Kinder Morgan Inc. (NYSE KMI)

It is one of the largest energy firms in North America, headquartered in Houston, Texas. It runs an extensive natural gas pipeline network, covering 70,000 miles.

Its businesses also include oil processing, storage, and supplies, which are handled through a combination of surface transportation and a 10,000-mile pipeline network. The energy sector has seen a rapid recovery post covid restrictions and is likely to continue that momentum this year.

Kinder Morgan stocks jumped 43% in the last six months. It has a dividend yield of 6.02%, and the company pays an annual dividend of US$1.08.

The stock was trading at US$17.09 at 2:56 pm ET on Friday, April 30.

Williams Companies Inc. (NYSE:WMB)

Williams Inc. is another major American oil and natural gas company headquartered in Tulsa, Oklahoma. Its major operations include processing and transportation of oil natural gas, mainly in the north-western region. This Fortune 500 company also runs electricity generation projects.

The WMB stock gained 30% in value in the last six months. It has a dividend yield of 6.71%, and the company pays an annual dividend of US$1.64.

The stock was trading at US$24.43 at 2:59 pm ET on Friday, April 30.