4 Top Dividend Stocks To Watch This Week
With the current state of economic uncertainties today, dividend stocks are likely on the watchlist of many investors. After all, some of the biggest names in the stock market have been under pressure over the past year. So, companies that make regular distributions to their shareholders can be a viable investment right now. Moreover, these companies are usually well-established and financially sound. Nevertheless, investors may not necessarily want to focus on stocks with the highest dividend yields. It is also worth considering a company’s ability to sustain those dividends.
Take AT&T (NYSE: T) for example, this is the world’s largest telecommunication company by revenue. Yet, with a dividend yield of 5.31%, it is also one of the best dividend-paying companies out there today. Another top name that would be no stranger to most is Coca-Cola (NYSE: KO). The beverage maker offers a yield of 2.77% and has an impressive track record of paying dividends. In fact, the company has increased its dividend for 59 consecutive years. With all said and done, there are plenty of top dividend stocks to choose from. So, here are some of the top names worth watching in the stock market today.
Best Dividend Stocks To Buy [Or Sell] This Week
- Chevron Corporation (NYSE: CVX)
- Suncor Energy Inc. (NYSE: SU)
- Enbridge Inc (NYSE: ENB)
- PepsiCo, Inc. (NASDAQ: PEP)
First, we have one of the world’s leading integrated energy companies, Chevron. Essentially, the company produces crude oil and natural gas and manufactures transportation fuels, lubricants, petrochemicals, and additives. Not to mention, it also develops technologies with a vision of providing a more affordable, reliable, and cleaner energy to the world. CVX stock has risen by over 45% this year alone. Last month, Chevron’s Board of Directors declared a quarterly dividend of $1.42 per share. This represents a dividend yield of 3.33%.
This past week, the company’s New Energies division, Talos Energy (NYSE: TALO), and Carbonvert, Inc announced the execution and closing of the expanded joint venture to develop the Bayou Bend CCS offshore carbon capture and sequestration hub. Chevron will have a 50% stake in the joint venture and Talos will be the operator with a 25% equity interest. Besides that, Chevron also recently launched a carbon capture and storage project in San Joaquin Valley, California. The project aims to reduce the carbon intensity of its operations within the area. So, would you be banking on the future of CVX stock?
Similar to Chevron, Suncor is an energy company with a healthy track record of dividend payouts. For those unaware, its operations include oil sands development, production and upgrading, offshore oil and gas production, and petroleum refining in North America. The company is developing petroleum resources while advancing the transition to a low-emissions future. Earlier this month, Suncor declared a quarterly dividend of $0.47 per common share, representing a 12% increase over the prior quarter’s dividend. It is also the highest quarterly dividend in the company’s history.
Along with that, Suncor announced its first-quarter earnings. The company’s adjusted funds from operations improved to $4.09 billion or $2.86 per common share for the quarter. When compared to the prior year’s quarter, the figures are more than double on a per-share basis. On top of that, the company’s net earnings skyrocketed to $2.95 billion, up by a staggering 259% year-over-year. As a result, Suncor was able to reduce its net debt by $728 million and return over $1.4 billion of value to its shareholders. Keeping its strong financials in mind, could SU stock keep up its momentum?
Enbridge is a company that continues to grow through the acquisition of other existing pipeline companies and the expansion of its projects. Accordingly, it is a leading energy delivery company in North America. It moves about 30% of the crude oil produced in North America and also transports nearly 20% of the natural gas consumed in the U.S. Furthermore, it operates one of the world’s longest and most complex crude oil and liquid transportation systems, with over 17,000 miles of active pipe.
Earlier in the month, the company reported its first-quarter financials for 2022. Diving in, it reported GAAP earnings of $1.9 billion, or $0.95 per common share. It also reaffirmed its 2022 full-year guidance range, with an EBITDA of $15.0 billion to $15.6 billion. During this quarter, the company also announced a letter of intent with Humble Midstream LLC to develop blue hydrogen, ammonia, and associated carbon capture infrastructure at its Enbridge Ingleside Energy Center in Texas on the U.S. Gulf Coast. Besides, on May 4, 2022, the company declared a dividend of $0.86 per common share that will be payable on June 1, 2022, to shareholders of record on May 13, 2022. With this piece of information, is EMB stock a top dividend stock to consider adding to your portfolio?
Last but not least, we have PepsiCo, a multinational food and beverage company. In fact, the company’s products are enjoyed by billions of consumers in more than 200 countries and territories around the world. Its portfolio of brands includes Pepsi-Cola, Mountain Dew, Quaker, and Cheetos among others. Impressively the company has also generated more than $89 billion in net revenue in 2021 on these brands that each generate more than $1 billion in estimated annual retail sales. The company will be reporting its second-quarter financials on July 12, 2022.
Recently, the company renewed its nearly four-decade partnership with the NFL after the NFL’s spring meeting in Atlanta. Team owners had voted to ratify the renewal, which will allow Pepsi to use NFL premium rights for its brands. This would include Frito Lay and Tostitos. Pepsi will also get pouring rights at top NFL events. The company’s sports drink maker, Gatorade, keeps its high visibility on NFL sidelines. The terms of Pepsi’s renewal were undisclosed. However, the previous deal was reportedly worth $2 billion over 10 years. Pepsi has also been raising its annual dividend payout for its 50th consecutive year. On May 3, 2022, the company announced a dividend of $1.15 per share, increasing by 7% year-over-year. All things considered, is PEP stock worth investing in today?