Top US Dividend Stocks To Consider In September 2024

As September 2024 begins, U.S. stock markets have taken a sharp downturn, led by significant declines in tech and semiconductor stocks. Major indices such as the Dow Jones Industrial Average and S&P 500 are experiencing their worst declines since early August, raising concerns about the economic outlook and Federal Reserve’s upcoming interest rate decisions. In this volatile market environment, dividend stocks can offer a measure of stability and income potential for investors seeking to navigate uncertain times.

Top 10 Dividend Stocks In The United States

Click here to see the full list of 176 stocks from our Top US Dividend Stocks screener.

Here’s a peek at a few of the choices from the screener.

Simply Wall St Dividend Rating: ★★★★★☆

Overview: First Busey Corporation, with a market cap of $1.54 billion, operates as the bank holding company for Busey Bank, providing retail and commercial banking products and services to various customer segments in the United States.

Operations: First Busey Corporation’s revenue segments include Banking at $378.39 million, Wealth Management at $60 million, and Firs Tech at $23.66 million.

Dividend Yield: 3.5%

First Busey Corporation offers a reliable dividend yield of 3.49%, with dividends well-covered by earnings at a payout ratio of 48.7%. The company has consistently increased its dividend payments over the past decade, maintaining stability. Despite trading at 52.2% below its estimated fair value, recent earnings have shown some decline, and net charge-offs have risen significantly in Q2 2024. Additionally, First Busey is exploring strategic M&A opportunities to enhance growth flexibility.

Simply Wall St Dividend Rating: ★★★★★☆

Overview: SpartanNash Company, with a market cap of $745.43 million, distributes and retails grocery products in the United States.

Operations: SpartanNash Company generates revenue from two main segments: Retail, which accounts for $2.78 billion, and Wholesale, contributing $7.96 billion.

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Dividend Yield: 3.9%

SpartanNash offers a reliable dividend yield of 3.91%, with dividends well-covered by earnings (64.1% payout ratio) and cash flows (70.6% cash payout ratio). The company has consistently increased its dividend over the past decade, maintaining stability despite recent declines in earnings and sales. Trading at 59.7% below its estimated fair value, SpartanNash is making strategic moves, including share repurchases and executive changes to drive future growth and brand awareness.

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Tapestry, Inc. is a company that offers luxury accessories and branded lifestyle products across North America, Greater China, the rest of Asia, and internationally with a market cap of $9.43 billion.

Operations: Tapestry, Inc. generates revenue through its segments: Coach ($5.10 billion), Kate Spade ($1.33 billion), and Stuart Weitzman ($241.50 million).

Dividend Yield: 3.4%

Tapestry’s dividend payments have grown over the past decade, though they have been volatile. The company declared a quarterly cash dividend of $0.35 per share, payable on September 23, 2024. Despite recent declines in net income to $816 million from $936 million and sales stagnation at approximately $6.67 billion, Tapestry’s dividends remain well-covered by earnings (39.3% payout ratio) and cash flows (28.1% cash payout ratio), indicating sustainability amidst financial fluctuations.

Where To Now?

• Get an in-depth perspective on all 176 Top US Dividend Stocks by using our screener here.

• Are you invested in these stocks already? Keep abreast of every twist and turn by setting up a portfolio with Simply Wall St, where we make it simple for investors like you to stay informed and proactive.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include NasdaqGS:BUSE NasdaqGS:SPTN and NYSE:TPR.

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