Defensive investors like stocks with sustainable, high dividend yields even in bear markets. David Fish’s US Dividend Champions list consists of all US stocks that have increased their dividend payouts for at least 25 consecutive years. Fish also created two separate sub-lists: “Dividend Contenders” that have increased their payouts for 10-24 years and “Dividend Challengers” that have increased their payouts for 5-9 years.
Although such stocks with high-quality dividends are appealing to defensive investors, some of them did not perform well during the year. Below we compiled a list of S&P stocks with dividend yields of at least 3%, and most of them have lost at least 15% YTD. All companies are S&P constituents and are on David Fish’s list, which means that they have increased their payouts for at least 5 years.
Company Name | Ticker | Dividend Yield (%) | YTD |
AFLAC Inc | AFL | 3.51% | -40.08% |
Avon Products | AVP | 4.34% | -27.59% |
CenturyTel Inc | CTL | 8.70% | -25.06% |
Emerson Electric | EMR | 3.15% | -22.68% |
Hasbro Inc. | HAS | 3.35% | -20.65% |
Illinois Tool Works | ITW | 3.40% | -20.85% |
Linear Technology Corp. | LLTC | 3.32% | -17.02% |
Nucor Corp. | NUE | 4.40% | -23.75% |
Pitney-Bowes | PBI | 7.70% | -17.34% |
Safeway Inc. | SWY | 3.25% | -19.43% |
Stanley Black & Decker | SWK | 3.04% | -17.90% |
The Travelers Companies Inc. | TRV | 3.35% | -11.90% |
Aflac Inc (AFL): Aflac’s principal business is supplemental health and life insurance. AFL is classified as a Dividend Champion and has a dividend yield of 3.51%. AFL has a market cap of $15.97B and a P/E ratio of 8.97. It has a YTD of -40.08%. Robert Pohly holds the largest position in AFL.
Avon Products (AVP): Avon creates, manufactures and markets beauty- and non-beauty-related products. AVP is classified as a Dividend Contender and has a dividend yield of 4.34%. AVP has a market cap of $9.13B, a P/E ratio of 12.1, and a YTD of -27.59%. Phill Gross and Robert Atchinson hold the largest positions in AVP.
CenturyTel Inc (CTL): CenturyLink provides a range of communications services, including voice, Internet, data and video services. CTL is classified as a Dividend Champion and has a dividend yield of 8.70%. CTL has a market cap of $20.56B, a P/E ratio of 4.14, and a YTD of -25.06%. Phill Gross and Robert Atchinson hold the largest positions in CTL.
Emerson Electric (EMR): Emerson Electric is engaged in designing and supplying product technology and delivering engineering services and solutions. EMR is classified as a Dividend Champion and has a dividend yield of 3.15%. EMR has a market cap of $32.62B, a P/E ratio of 14.48, and a YTD of -22.68%. Ken Fisher holds the largest position in EMR (check out Fisher’s favorite stock picks).
Hasbro Inc (HAS): Hasbro is engaged in providing children’s and family leisure time products and services with a portfolio of brands and entertainment properties. HAS is classified as a Dividend Challenger and has a dividend yield of 3.35%. HAS has a market cap of $4.81B, a P/E ratio of 13.62, and a YTD of -20.65%. John Brennan holds the largest position in HAS.
Illinois Tool Works (ITW): Illinois Tool Works is a diversified manufacturer of advanced industrial technology. It designs and produces an array of highly engineered fasteners and components, equipment and consumable systems, and specialty products and equipment for customers around the world. ITW is classified as a Dividend Champion and has a dividend yield of 3.40%. ITW has a market cap of $20.82B, a P/E ratio of 11.18, and a YTD of -20.85%. Ric Dillon holds the largest position in ITW.
Linear Technology Corp (LLTC): Linear Technology designs, manufactures and markets a broad line of standard, high-performance linear integrated circuits. LLTC is classified as a Dividend Contender and has a dividend yield of 3.32%. LLTC has a market cap of $6.58B, a P/E ratio of 11.56, and a YTD of -17.02%. Jean-Marie Eveillard holds the largest position in LLTC.
Nucor Corp (NUE): Nucor manufactures steel and steel products and produces direct reduced iron for use in the company’s steel mills. NUE is classified as a Dividend Champion and has a dividend yield of 4.40%. NUE has a market cap of $10.43B, a P/E ratio of 22.26, and a YTD of -23.75%. Jeffrey Vinik holds the largest position in NUE.
Pitney-Bowes (PBI): Pitney Bowes is a provider of mail processing equipment and integrated mail solutions. PBI is classified as a Dividend Champion and has a dividend yield of 7.70%. PBI has a market cap of $3.89B, a P/E ratio of 11.12, and a YTD of -17.34%. Ray Dalio holds the largest position in PBI.
Safeway Inc (SWY): Safeway is a food and drug retailer in North America. SWY is classified as a Dividend Challenger and has a dividend yield of 3.25%. SWY has a market cap of $6.24B, a P/E ratio of 12.48, and a YTD of -19.43%. Dan Loeb holds the largest position in SWY.
Stanley Black & Decker (SWK): Stanley Black & Decker is a diversified global provider of hand tools, power tools and related accessories, mechanical access solutions and electronic security solutions, engineered fastening systems, and more. SWK is classified as a Dividend Champion and has a dividend yield of 3.04%. SWK has a market cap of $9.09B, a P/E ratio of 14.99, and a YTD of -17.90%. John W. Rogers holds the largest position in SWK.
The Travelers Companies Inc (TRV): Travelers Companies Inc provides a range of commercial and personal property and casualty insurance products and services. TRV is classified as a Dividend Challenger and has a dividend yield of 3.35%. TRV has a market cap of $20.50B, a P/E ratio of 9.58, and a YTD of -11.90%. Mason Hawkins holds the largest position in TRV.
Disclosure: I am long CTL.
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