10 Highest-Yielding Dow Jones Stocks Heading Into 2023

Zinger Key Points
  • Twenty-seven of the 30 components of the Dow Jones Industrial Average pay dividends.
  • A look at the highest-yielding Dow Jones components heading into 2023.

The stock market had a rough 2022 with many of the top indexes down double digits. Among the stock indexes that were down was the Dow Jones Industrial Average.

With declining prices, dividend yields on many of the components are up heading into the new year.

Here’s a look at the top-yielding Dow Jones stocks to start 2023.

What Happened: Created in 1896 by Charles Dow, the Dow Jones Industrial Average is one of the oldest and most followed equity indexes for overall stock market health. The Dow Jones Industrial Average consists of 30 stocks on a price-weighted basis.

The SPDR Dow Jones Industrial Average ETF Trust DIA, which tracks the index, was down 9.2% year-to-date (through Dec. 29).

Related Link: Only 4 Dow Jones Industrial Average Stocks Are Up YTD Through The First Three Quarters, Here's Who Made The Cut 

Top Yielding Dow Jones Stocks: Of the 30 components in the Dow Jones, 27 of the stocks pay dividends. Only Boeing Co BA, Walt Disney Co DIS and Salesforce Inc CRM don’t currently pay out dividends.

The average payout was around 2.57% for the 30 Dow Jones components, with the top four all paying out 5% or more at the time of writing.

Here are the top 10 highest-yielding Dow Jones stocks to start 2023:

Verizon Communications Inc. VZ: 6.76% yield, stock -25.1% year-to-date 2022 (ytd)

Intel Corporation INTC: 5.57% yield, stock -50.8% ytd

Dow Inc DOW: 5.53% yield, stock -11.0% ytd

Walgreens Boots Alliance Inc WBA: 5.12% yield, stock -29.4% ytd

3M Co MMM: 4.94% yield, stock -32.2% ytd

IBM IBM: 4.68% yield, stock +3.7% ytd

Amgen, Inc. AMGN: 3.24% yield, stock +16.1% ytd

Cisco Systems Inc CSCO: 3.20% yield, stock -24.8% ytd

Chevron Corporation CVX: 3.19% yield, stock +49.5% ytd

JPMorgan Chase & Co JPM: 3.00% yield, stock -15.9% ytd

Why It’s Important: With the period of high inflation and the market downturn in 2022, investors may look for safety with blue chip stocks and dividend payers to start 2023.

While a stock paying dividends doesn’t guarantee the shares won’t fall, it can provide a level of safety and income for investors.

Some investors turned from growth stocks to value stocks in 2022 and that trend could continue in the new year. 

Read Next: Benzinga's Yield Investment Guide, How To Hedge Inflation

Photo: rafapress via Shutterstock




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