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Income investors looking for higher levels of investment income, such as retirees, should consider purchasing dividend stocks with high dividend yields.Importantly, the best high dividend stocks can maintain their dividends over time, even during recessions. These 3 dividend stocks have yields above 5%, and have secure dividend payouts.
LCNB Corp. (LCNB)
LCNB Corp. is a Ohio-based financial holding company providing banking and insurance services through its subsidiaries, LCNB National Bank and Dakin Insurance Agency, Inc. The company reported $2.35 billion in total assets as of September 30th, 2024.LCNB National Bank offers consumer and commercial banking services, including checking and savings accounts, certificates of deposit, and loans for residential mortgages, commercial real estate, and personal needs.Dakin Insurance Agency provides personal and commercial insurance products and annuity services. LCNB also offers trust administration, estate settlement, and investment management services, as well as financial products like mutual funds, annuities, and life insurance.On October 21st, 2024, LCNB Corp. released its third-quarter results for the period ending September 30th, 2024. For the quarter, the company reported a net income of $4.5 million, or $0.31 per diluted share, compared to $4.1 million, or $0.37 per diluted share, in the same quarter last year.During the past five years, the company’s dividend payout ratio has averaged around 53%. LCNB Corp’s dividend is comfortably covered by earnings. Given the expected earnings growth, there is room for the dividend to continue to grow at least at the same pace and keep the payout ratio around the same levels which is safe.LCNB has increased its dividend for 7 consecutive years and the stock currently yields 5.4%.
Verizon Communications (VZ)
Verizon is one of the largest wireless carriers in the country.Wireless contributes three-quarters of all revenues, and broadband and cable services account for about a quarter of sales. The company’s network covers ~300 million people and 98% of the U.S.On October 22nd, 2024, Verizon reported third quarter results for the period ending September 30th, 2024. For the quarter, revenue declined 0.1% to $33.3 billion, which missed estimates by $120 million. Adjusted earnings-per-share of $1.19 compared unfavorably to $1.22 in the prior year, but this was $0.01 more than anticipated.For the quarter, Verizon had postpaid phone net additions of 239K, which was much better than loss of 51K that the company had in the same quarter a year ago. Retail postpaid net additions totaled 349K. Wireless retail postpaid phone churn rate remains low at 0.89%. Wireless revenue grew 2.7% to $19.8 billion while the Consumer segment increased 0.4% to $25.4 billion. Broadband totaled 389K net new customers during the period, the ninth consecutive quarter of at least 375K net adds. This included 363K fixed wireless net additions.Verizon reaffirmed its prior guidance for 2024 as well. The company continues to expect wireless service revenue to grow 2% to 3.5% and adjusted earnings-per-share in a range of $4.50 to $4.70.One of Verizon’s key competitive advantages is that is often considered the best wireless carrier in the U.S. This is evidenced by the company’s wireless net additions and very low churn rate. This reliable service allows Verizon to maintain its customer base as well as give the company an opportunity to move customers to higher-priced plans. Verizon’s 5G service coverage area gives it an advantage over other carriers. Another advantage for Verizon is the stock’s ability to withstand a downturn in the market.On September 14, 2024, Verizon announced that it was increasing its quarterly dividend 1.9% to $0.6775 for the November 1st, 2024 payment, extending the company’s dividend growth streak to 20 consecutive years. VZ stock currently yields 6.7%.
Carter’s Inc. (CRI)
Carter’s, Inc. is the largest branded retailer of apparel exclusively for babies and young children in North America. It was founded in 1865 by William Carter. The company owns the Carter’s and OshKosh B’gosh brands, two of the most known brands in the children’s apparel space.Carter’s acquired competitor OshKosh B’gosh for $312 million in 2005. Now, these brands are sold in leading department stores, national chains, and specialty retailers domestically and internationally.On October 26th, 2024, the company reported third-quarter results for Fiscal Year (FY)2024. The company reported a decline in third-quarter fiscal 2024 results, with net sales down 4.2% to $758 million compared to the previous year’s $792 million.Carter’s reaffirmed its fiscal 2024 outlook, projecting net sales between $2.785 billion and $2.825 billion and raising its adjusted diluted EPS outlook to $4.70–$5.15. Liquidity remains strong with $1.02 billion in available funds, and the company returned $138 million to shareholders through dividends and share repurchases.Some of the growth prospects that will drive higher revenue and earnings will be that the company continues to lead in eCommerce. Over the next five years, the company expects eCommerce sales to grow to nearly 50% of its total U.S retail sales.Another growth driver will come from the company’s “Age Up” initiative. This initiative focuses on apparel sales for children ages four to 10 years old. This older age apparel market is larger than the combined baby and toddler apparel markets.More By This Author:10 Buy And Hold Forever Dividend Stocks
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