Dividend investors could be interested in the following three stocks, as they are granting much higher dividend yields than the S&P 500 Index. The benchmark index's dividend yields 1.37% as of Friday, May 28.
Wall Street sell-side analysts have also issued positive ratings for these stocks.
BHP Group Ltd
The first company dividend investors could be interested in is BHP Group Ltd (BHP, Financial), a Melbourne, Australia-based mining, metals and oil company with mineral activities in Australia and internationally.
Based on Friday's closing price of $74.11 per share, BHP Group Ltd grants a trailing 12-month and forward dividend yield of 4.21%. The company last paid a semi-annual dividend of $2.02 per common share on March 23.
BHP Group Ltd has paid dividends for more than 30 years.
On Wall Street, as of May, the stock has a median recommendation rating of overweight with an average target price of $79.45 per share.
The share price has risen by nearly 50% over the past year, which determined a market capitalization of $188.56 billion and a 52-week range of $46.52 to $82.07.
Also, the 14-day relative strength index of 47 indicates that this stock is neither overbought nor oversold.
Philip Morris International Inc
The second company dividend investors could be interested in is Philip Morris International Inc (PM, Financial), a New York-based tobacco giant.
Based on Friday's closing price of $96.43 per share, Philip Morris International Inc grants a trailing 12-month dividend yield of 4.95% and a forward dividend yield of 4.98%. The last quarterly payment, $1.20 per common share, was made on April 9.
Philip Morris International Inc has paid dividends for approximately 15 years.
On Wall Street, as of May, the stock has a median recommendation rating of overweight and an average target price of $105.22 per share.
The share price has risen by nearly 31% over the past year for a market capitalization of $150.29 billion and a 52-week range of $68.37 to $98.62.
The 14-day relative strength index of 53 suggests that this stock is neither overbought nor oversold.
Royal Bank of Canada
The third company dividend investors could be interested in is Royal Bank of Canada (RY, Financial), a Toronto, Canada-based bank providing diversified financial services to consumers, households and businesses internationally.
Based on Friday's closing price of $103.99 per share, Royal Bank of Canada grants a trailing 12-month dividend yield of 3.27% and a forward dividend yield of 3.44%. The last quarterly payment, 1.08 Canadian dollars ($0.90) per common share, was made on May 21, while the next payment, in line with the prior one, will be made on Aug. 24.
Royal Bank of Canada has paid dividends for nearly three decades.
On Wall Street, as of May, the stock has a median recommendation rating of overweight and an average target price of $111 per share.
The share price has risen by nearly 50% over the past year, determining a market capitalization of $148.30 billion and a 52-week range of $64.34 to $104.85.
The 14-day relative strength index of 76 indicates that this stock is not far from overbought levels.
Disclosure: I have no positions in any securities mentioned.
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