Dividend investors may want to consider the following stocks as they are offering much higher dividend yields than the S&P 500 Index. The benchmark index's dividend yields 1.31% as of Friday.
Wall Street sell-side analysts have also issued positive ratings for these stocks.
Nuveen Credit Strategies Income Fund
The first company dividend investors may want to consider is Nuveen Credit Strategies Income Fund (JQC, Financial), a San Francisco-based asset management firm focusing on the U.S. fixed income and public equity markets.
Based on Friday's closing price of $6.55 per share, Nuveen Credit Strategies offers a trailing 12-month dividend yield of 12.95% and a forward dividend yield of 9.3%. The company paid a monthly dividend of 5.1 cents per common share on Aug. 2.
The company has paid dividends for approximately four years.
On Wall Street, the stock has one recommendation rating of strong buy.
The share price has risen by 7.9% over the past year, determining a market capitalization of $891.63 million and a 52-week range of $5.76 to $6.81.
Also, the 14-day relative strength index of 51 indicates the stock is neither overbought nor oversold.
Invesco Advantage Municipal Income Trust II
The second company dividend investors may want to consider is Invesco Advantage Municipal Income Trust II (VKI, Financial), an Atlanta-based asset management firm focusing on investments in the U.S. fixed income markets.
Based on Friday's closing price of $12.34 per share, Invesco offers a trailing 12-month dividend yield of 4.65% and a forward dividend yield of 4.73%. The last monthly payment of 2 cents per common share was made on June 11.
Invesco Advantage Municipal Income Trust II has paid dividends for approximately 10 years.
The company is paying a monthly dividend of 4.9 cents per common share, with the last distribution dated July 30 and the next one to be made on Aug. 31.
On Wall Street, the stock has one recommendation rating of hold.
The share price has increased by 10.11% over the past year for a market capitalization of $547.57 million and a 52-week range of $10.6 to $12.5205.
The 14-day relative strength index of 55 suggests this stock is neither overbought nor oversold.
Sachem Capital
The third company dividend investors may want to consider is Sachem Capital Corp. (SACH, Financial), a Branford, Connecticut-based real estate finance company focusing on loans to real estate investors who will use the money to acquire, renovate and develop residential or commercial real estate properties. The company has elected to be taxed as a real estate investment trust.
Based on Friday's closing price of $4.96 per share, Sachem Capital offers trailing 12-month and forward dividend yields of 9.62%. The last quarterly payment of 12 cents per common share was made on July 30.
Sachem Capital has paid dividends for almost four years.
On Wall Street, the stock has a median recommendation rating of buy and an average target price of $6.50 per share.
The share price has risen by nearly 38% over the past year, determining a market capitalization of $132.94 million and a 52-week range of $3.37 to $5.68.
The 14-day relative strength index of 40 indicates the stock is neither overbought nor oversold.
