Finding the highest dividend stocks is income investors’ ultimate goal. In pursuit of that goal, investors use common financial analysis methods, as well as develop their individual metrics and strategies.

As most investors should know, high dividend yields are not necessarily good indications of high returns. The nature of the dividend yield is that it represents only the ratio of the total annual dividend distribution amount and the equity’s current share price.

Income investors also look for long streaks of rising dividend payouts, which could result in a rising dividend yield. However, the dividend yield growth could also be caused by a share price decline. Therefore, investors must use additional metrics even in their initial search for equities with good total returns to minimize possible losses and choose the equities with the best return potential.

Market analysis can include dozens of criteria to find the optimal equities for one’s investment portfolio. However, to keep the list below as broad as possible, no equities have been excluded based on market capitalization, total returns over the past three or five years, dividend payout ratio levels or any number of potential filter criteria.

The list below — generated with the Dividend Screener tool available at DividendInvestor.com — excludes funds, trusts, exchange notes, etc. However, the remaining companies had to meet just two criteria. Each equity on the list had to have increased its dividend payout for at least one year and the total return over the past 12 months had to exceed the dividend yield rate.

A total return that is equal to the dividend yield indicates that dividend income distributions delivered all gains over the trailing 12-month period and that the share price was flat. Additionally, a total annual return that is lower than the dividend yield implies that share price decline offset some of the dividend income gains. Therefore, the second criterion was included to ensure that equities on the list delivered at least a small asset appreciation in addition to high dividend yields.

The list below comprises the 25 stocks that meet the basic criteria mentioned above and are sorted by their respective dividend yields in ascending order.

The 25 highest dividend Stocks by Yield: #25

MGM Growth Properties LLC (NYSE:MGP)

Dividend Yield: 5.79%

Market Cap: $3.11 billion

Sector: Financials

First Dividend: 2016

Dividends Paid: 4 years

Consecutive Annual Hikes: 3 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $32.48

Total Return (1Y, 3Y, 5Y): 17.24%, 50.68%, N/A

The 25 Highest Dividend Stocks by Yield: #24

Atlantica Yield Plc (NASDAQ:AY)

Dividend Yield: 5.87%

Market Cap: $2.80 billion

Sector: Utilities

First Dividend: 2014

Dividends Paid: 6 years

Consecutive Annual Hikes: 3 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $27.96

Total Return (1Y, 3Y, 5Y): 64.33%, 47.39%, 3.85%

The 25 Highest Dividend Stocks by Yield: #23

Gladstone Investment Corporation (NASDAQ:GAIN)

Dividend Yield: 6.03%

Market Cap: $456.88 million

Sector: Financials

First Dividend: 2005

Dividends Paid: 15 years

Consecutive Annual Hikes: 4 years

Distribution Frequency: Annually

January 22, 2020 Closing Price: $13.92

Total Return (1Y, 3Y, 5Y): 46.34%, 92.71%, 152.00%

The 25 Highest Dividend Stocks by Yield: #22

Gaming & Leisure Properties, Inc (NASDAQ:GLPI)

Dividend Yield: 6.09%

Market Cap: $9.87 billion

Sector: Financials

First Dividend: 2014

Dividends Paid: 6 years

Consecutive Annual Hikes: 4 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $45.95

Total Return (1Y, 3Y, 5Y): 37.00%, 74.49%, 79.59%

The 25 Highest Dividend Stocks by Yield: #21

Omega Healthcare Investors, Inc. (NYSE:OHI)

Dividend Yield: 6.20%

Market Cap: $9.45 billion

Sector: Financials

First Dividend: 1992

Dividends Paid: 28 years

Consecutive Annual Hikes: 16 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $43.25

Total Return (1Y, 3Y, 5Y): 20.94%, 58.00%, 23.47%

The 25 Highest Dividend Stocks by Yield: #20

EPR Properties (NYSE:EPR)

Dividend Yield: 6.20%

Market Cap: $5.69 billion

Sector: Financials

First Dividend: 1997

Dividends Paid: 23 years

Consecutive Annual Hikes: 5 years

Distribution Frequency: Annually

January 22, 2020 Closing Price: $72.58

Total Return (1Y, 3Y, 5Y): 9.07%, 15.80%, 43.93%

The 25 Highest Dividend Stocks by Yield: #19

Magellan Midstream Partners LP (NYSE:MMP)

Dividend Yield: 6.40%

Market Cap: $14.67 billion

Sector: Energy

First Dividend: 2001

Dividends Paid: 19 years

Consecutive Annual Hikes: 18 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $64.23

Total Return (1Y, 3Y, 5Y): 13.46%, 2.64%, 3.23%

The 25 Highest Dividend Stocks by Yield: #18

Enterprise Products Partners L.P. (NYSE:EPD)

Dividend Yield: 6.42%

Market Cap: $60.66 billion

Sector: Energy

First Dividend: 1998

Dividends Paid: 22 years

Consecutive Annual Hikes: 19 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $27.71

Total Return (1Y, 3Y, 5Y): 7.49%, 18.07%, 2.28%

The 25 Highest Dividend Stocks by Yield: #17

Altria Group, Inc. (NYSE:MO)

Dividend Yield: 6.58%

Market Cap: $95.33 billion

Sector: Consumer Products

First Dividend: 1928

Dividends Paid: 92 years

Consecutive Annual Hikes: 10 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $51.03

Total Return (1Y, 3Y, 5Y): 20.77%, -14.51%, 17.76%

The 25 Highest Dividend Stocks by Yield: #16

Brookfield Property Partners LP (NASDAQ:BPY)

Dividend Yield: 6.75%

Market Cap: $5.09 billion

Sector: Financials

First Dividend: 2013

Dividends Paid: 7 years

Consecutive Annual Hikes: 6 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $19.55

Total Return (1Y, 3Y, 5Y): 20.64%, 9.23%, 5.46%

The 25 Highest Dividend Stocks by Yield: #15

StoneCastle Financial Corporation (NASDAQ:BANX)

Dividend Yield: 6.88%

Market Cap: $132.54 million

Sector: Financials

First Dividend: 2013

Dividends Paid: 7 years

Consecutive Annual Hikes: 3 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $22.09

Total Return (1Y, 3Y, 5Y): 18.94%, 37.56%, 39.17%

The 25 Highest Dividend Stocks by Yield: #14

Enviva Partners LP (NYSE:EVA)

Dividend Yield: 7.10%

Market Cap: $1.26 billion

Sector: Materials

First Dividend: 2015

Dividends Paid: 5 years

Consecutive Annual Hikes: 4 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $37.77

Total Return (1Y, 3Y, 5Y): 35.52%, 65.76%, N/A

The 25 Highest Dividend Stocks by Yield: #13

TPG Specialty Lending, Inc. (NYSE:TSLX)

Dividend Yield: 7.15%

Market Cap: $1.45 billion

Sector: Financials

First Dividend: 2014

Dividends Paid: 6 years

Consecutive Annual Hikes: 3 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $21.82

Total Return (1Y, 3Y, 5Y): 22.31%, 43.17%, 78.12%

The 25 Highest Dividend Stocks by Yield: #12

Capital Southwest Corporation (NASDAQ:CSWC)

Dividend Yield: 7.42%

Market Cap: $386.33 million

Sector: Financials

First Dividend: 1990

Dividends Paid: 30 years

Consecutive Annual Hikes: 4 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $21.55

Total Return (1Y, 3Y, 5Y): 11.02%, 66.16%, 85.26%

The 25 Highest Dividend Stocks by Yield: #11

Westlake Chemical Partners LP (NYSE:WLKP)

Dividend Yield: 7.62%

Market Cap: $859.30 million

Sector: Materials

First Dividend: 2014

Dividends Paid: 6 years

Consecutive Annual Hikes: 5 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $24.42

Total Return (1Y, 3Y, 5Y): 15.97%, 26.18%, 27.09%

The 25 Highest Dividend Stocks by Yield: #10

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Dividend Yield: 7.64%

Market Cap: $60.66 million

Sector: Financials

First Dividend: 2003

Dividends Paid: 17 years

Consecutive Annual Hikes: 6 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $6.28

Total Return (1Y, 3Y, 5Y): 12.11%, 7.93%, 130.17%

The 25 Highest Dividend Stocks by Yield: #9

Ares Commercial Real Estate Corp (NYSE:ACRE)

Dividend Yield: 7.98%

Market Cap: $477.44 million

Sector: Financials

First Dividend: 2012

Dividends Paid: 8 years

Consecutive Annual Hikes: 4 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $16.54

Total Return (1Y, 3Y, 5Y): 29.80%, 47.58%, 81.77%

The 25 Highest Dividend Stocks by Yield: #8

Shell Midstream Partners LP (NYSE:SHLX)

Dividend Yield: 8.22%

Market Cap: $1.46 billion

Sector: Energy

First Dividend: 2015

Dividends Paid: 5 years

Consecutive Annual Hikes: 4 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $21.65

Total Return (1Y, 3Y, 5Y): 19.57%, -15.74%, -32.16%

The 25 Highest Dividend Stocks by Yield: #7

Great Ajax Corporation (NYSE:AJX)

Dividend Yield: 8.49%

Market Cap: $306.63 million

Sector: Financials

First Dividend: 2015

Dividends Paid: 5 years

Consecutive Annual Hikes: 4 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $15.07

Total Return (1Y, 3Y, 5Y): 29.66%, 42.05%, N/A

The 25 Highest Dividend Stocks by Yield: #6

PBF Logistics LP (NYSE:PBFX)

Dividend Yield: 9.68%

Market Cap: $396.30 million

Sector: Energy

First Dividend: 2014

Dividends Paid: 6 years

Consecutive Annual Hikes: 5 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $21.49

Total Return (1Y, 3Y, 5Y): 10.72%, 41.81%, 44.26%

The 25 Highest Dividend Stocks by Yield: #5

Dorchester Minerals LP (NASDAQ:DMLP)

Dividend Yield: 9.90%

Market Cap: $704.00 million

Sector: Financials

First Dividend: 2003

Dividends Paid: 17 years

Consecutive Annual Hikes: 3 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $20.30

Total Return (1Y, 3Y, 5Y): 28.67%, 35.31%, 1.45%

The 25 Highest Dividend Stocks by Yield: #4

Invesco Mortgage Capital, Inc. (NYSE:IVR)

Dividend Yield: 10.68%

Market Cap: $2.47 billion

Sector: Financials

First Dividend: 2009

Dividends Paid: 11 years

Consecutive Annual Hikes: 3 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $17.32

Total Return (1Y, 3Y, 5Y): 22.02%, 51.99%, 65.15%

The 25 Highest Dividend Stocks by Yield: #3

Delek Logistics Partners LP (NYSE:DKL)

Dividend Yield: 10.88%

Market Cap: $790.13 million

Sector: Energy

First Dividend: 2003

Dividends Paid: 17 years

Consecutive Annual Hikes: 6 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $32.36

Total Return (1Y, 3Y, 5Y): 23.56%, 25.51%, 31.00%

The 25 Highest Dividend Stocks by Yield: #2

Vector Group Ltd (NYSE:VGR)

Dividend Yield: 12.02%

Market Cap: $1.97 billion

Sector: Consumer Products

First Dividend: 1990

Dividends Paid: 30 years

Consecutive Annual Hikes: 20 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $13.31

Total Return (1Y, 3Y, 5Y): 48.72%, -9.86%, 15.62%

The 25 Highest Dividend Stocks by Yield: #1

Green Plains Partners LP (NASDAQ:GPP)

Dividend Yield: 12.86%

Market Cap: $342.32 million

Sector: Energy

First Dividend: 2015

Dividends Paid: 5 years

Consecutive Annual Hikes: 4 years

Distribution Frequency: Quarterly

January 22, 2020 Closing Price: $14.78

Total Return (1Y, 3Y, 5Y): 20.39%, -0.57%, N/A

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What 12 ETFs Pay the Highest Dividend Yield

What 12 REITs Pay the Highest Dividend Yield

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Ned Piplovic is the assistant editor of website content at Eagle Financial Publications. He graduated from Columbia University with a Bachelor’s degree in Economics and Philosophy. Prior to joining Eagle, Ned spent 15 years in corporate operations and financial management. Ned writes for www.DividendInvestor.com and www.StockInvestor.com.