It May Be Time to Buy Top Dividend Aristocrat Stocks

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FILE PHOTO: A street sign for Wall Street is seen in the financial district in New York

Investors may want to consider Dividend Aristocrats heading into 2024.

That’s according to Wolfe Research. That is, if the Federal Reserve is finished hiking rates.

“Dividend themes generally performed well after the final hike in a Fed tightening cycle, with Dividend Aristocrats performing the best,” said the firm, as quoted by CNBC.

That being said, investors may want to keep an eye on Dividend Aristocrats, such as:

With a 46-year history of paying dividends, McDonald’s (MCD) yields 2.37%. It also just declared a quarterly cash dividend of $1.67 per share payable on December 15, 2023 to shareholders of record at the close of business on December 1, 2023.

There’s also Automatic Data Processing (ADP), which carries a yield of 2.45%.

According to a recent press release, the company “approved a $0.15 increase in the quarterly cash dividend to an annual rate of $5.60 per share. The increased cash dividend marks the 49th consecutive year in which ADP, a leading global technology company providing human capital management (HCM) solutions, has raised its quarterly dividend.”

The new quarterly dividend rate of $1.40 per share will be distributed on January 1, 2024 to shareholders of record on December 8, 2023.

Even Lowe’s (LOW) yields 2.2%, and just declared a quarterly cash dividend of $1.10 per share, payable Feb. 7, 2024, to shareholders of record as of Jan. 24, 2024.

It’s just something to consider if you’re looking for safer ideas, with yield.