![]() With a five-year average dividend yield of 3.8%, TFC's yield is high because shares are so very depressed. The result is a stock that's off by more than a third so far in 2023, pushing the yield on TFC's dividend up to 7.42%. Downgrades to the credit ratings of regional lenders unnerved the sector, and when Moody's placed Truist on review for a possible ratings cut, shares coughed up most of what they had recovered. Shares gained more than 35% between early May and mid-July. TFC went on to stage a remarkable rally, however. TFC didn't bottom out until May, at which point it had lost nearly 40% of its value in 2023. Shares in the nation's seventh largest bank by assets tumbled in March when Silicon Valley Bank collapsed. Regional banks are having a bad year, and that has a couple of sector names cracking the list of stocks with the highest dividend yields in the S&P 500.įirst up is Truist Financial ( TFC). Analysts' consensus recommendation: Buy.Stocks are listed by dividend yields, from lowest to highest. Market data, analysts' estimates and analysts' recommendations are as of August 23, 2023, courtesy of YCharts and S&P Global Market Intelligence. With those caveats out of the way, below please find the five S&P 500 stocks with the highest dividend yields. The regional bank crisis of last spring and a slew of recent credit ratings downgrades have some market participants questioning whether current dividend levels are sustainable. Be aware that their dividend yields are unusually elevated these days because their share prices are under duress. Two of the following five stocks with the highest dividend yields in the S&P 500 are regional banks. So, yes, sometimes stocks with the highest dividend yields can be fool's gold. And this could be pertinent to a least a couple of the stocks with the highest dividend yields in the S&P 500 today. Nonetheless, the yield on Newell's dividend tumbled to below 3% from knocking on the door of 10%. The company intends to use the cash formerly earmarked for shareholders to pay down debt, which is probably a good idea. On May 16, Newell cut its quarterly dividend by almost 70% to 7 cents per share. That seemed pretty obviously unsustainable, and indeed it was.
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