Top four dividend stocks to watch now in March 2024

By:
on Mar 6, 2024
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  • It's great to invest in a dividend stock that pays you as an investor regularly.
  • But not all dividend stocks are created equal.
  • Here, the four dividend stocks we are watching for March 2024.

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Investing in known dividend stocks means potentially reaping a generous passive income in dividends regularly.

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What are dividend stocks?

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Dividend stocks are companies with a reputation for paying out regular and progressively appreciating dividends to its ordinary shareholders consistently. Often, this reputation comes from years of doing so.

But with so many dividend-paying stocks out there, which ones are really worth your time?

We have singled out four dividend stocks we’ve got our eye on this month, below:

  1. ExxonMobil
  2. Johnson & Johnson
  3. Sumitomo Mitsui Financial Group
  4. Wells Fargo & Co

1. ExxonMobil

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  • Latest dividend: $0.95 for Q4 of 2023, $3.72 per share for the whole of 2023
  • Dividend yield: 3.60% at time of writing

Big oil business ExxonMobil is a famously generous dividend-paying company. In fact, it falls into the elite category of ‘dividend aristocrats’ – companies who have paid dividends for 25 years consecutively or more.

The year 2024, if it pays dividends (which it very likely will) will be the 42nd year in a row that ExxonMobil has paid appreciating dividends.

In fact, the next scheduled dividend is $0.95 per share, which will be going out on Mar 11, 2024.

2. Johnson & Johnson

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  • Latest dividend: $1.19 for Q4 of 2023, $4.70 for the whole 2023 year
  • Dividend yield: 2.98% at time of writing

Even more impressive than ExxonMobil is consumer staples and pharmaceuticals giant Johnson & Johnson, which has been faithfully paying dividends for over 50 years now.

Johnson & Johnson pay a quarterly dividend, the next one of which is confirmed to be $1.19 for Q1 of 2024.

However, the company is also known for raising their dividend slightly for the Q2,Q3 and Q4 of a year.

3. Sumitomo Mitsui Financial Group

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  • Latest dividend: JPY240 dividend per share in 2023
  • Dividend yield: 2.73% at time of writing

Along with several other Japanese stocks, big Japanese banking stock SMFG has been killing it lately. And their dividends are similarly impressive.

The company’s current dividend equates to a per share net income of JPY590.46, representing a consolidated payout ratio of 40.4%.

That’s a high payout amount for such a precipitous climb in earnings over the past year.

4. Wells Fargo & Co

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  • Latest dividend: $0.35 for Q4 of 2023, $1.30 for the whole of 2023
  • Dividend yield: 2.47% at time of writing

Banking mega-corporation Wells Fargo is known for being a predictable dividend payer.

Each year, come rain or shine for the banking industry, Wells Fargo pays a handsome quarterly dividend of $0.35 per share.

While this is not always as spectacular as other banking stocks, it is one of the most reliable and consistent ones, year in and year out.

Wells Fargo’s latest dividend payment was on February 1st, which was its customary $0.35 per share.

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ExxonMobil Johnson & Johnson Wells Fargo Dividend Stock Market