Dogs Of The Dow: Top 10 Highest Yielding Dow Jones Stocks, How To Get Dividends Of 3% to 7.4% In 2024

Investors have many strategies when looking at stocks, options and other investment vehicles, which can change over time. One of the most popular investment strategies over the years has been to look at dividend stocks.

The Dow Jones Industrial Average includes many dividend-paying stocks, including many blue-chip companies that have consistently raised their dividends.

Here's a look at the top-yielding Dow Jones stocks in 2024.

What Happened: The Dow Jones Industrial Average gained 14% in 2023 with 19 component stocks up and 11 component stocks down on the full year. In December, the Dow Jones Industrial Average hit a new all-time high, passing the $37,000 level.

While investors can bet on the entire Dow Jones Industrial Average through ETFs like the Dow Jones Industrial Average ETF DIA, investors can also pick individual stocks from the 30 components of the index.

One popular strategy is to look at the "Dogs of the Dow," which often coincides with the beaten-down stocks of the index that also offer high dividend payouts.

Here are the highest-yielding Dow Jones Industrial Average stocks to start 2024, with the dividend yield and stock performance in 2023 listed below.

1. Walgreens Boots Alliance WBA: 7.35% yield, -30.1% in 2023
2. Verizon Communications VZ: 7.06% yield, -4.3% in 2023
3. 3M Company MMM: 5.4% yield, -8.8% in 2023
4. Dow Inc DOW: 5.11 yield, +8.8% in 2023
5. IBM IBM: 4.06% yield, +16.1% in 2023
6. Chevron Corporation CVX: 4.05% yield, -16.9% in 2023
7. Amgen Inc AMGN: 3.12% yield, +9.7% in 2023
8. Coca-Cola Co KO: 3.12% yield, -7.4% in 2023
9. Cisco Systems CSCO: 3.09% yield, +6.0% in 2023
10. Johnson & Johnson JNJ: 3.04% yield, -11.3% in 2023

Related Link: EXCLUSIVE: Roundhill Launches Dividend Kings ETF With ‘The Gold Standard Of Dividend Growers,’ Companies With ‘Incredible Resilience’

Why It's Important: The 10 highest-yielding stocks in the Dow Jones Industrial Average all pay out 3% or better with two of the stocks paying out over 7%.

Of the 30 components, 28 pay dividends with Salesforce Inc CRM and Boeing Co. BA the current exceptions. Walt Disney Co DIS paid out a dividend in December 2023, its first dividend in four years.

Together, the 10 highest dividend payers in the index average payouts of 4.28%. The entire Dow Jones Industrial Average has a dividend yield of 2.54%.

The SPDR S&P 500 ETF Trust SPY, which tracks the S&P 500 Index, has a dividend yield of 1.6%.

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