Stocks With the Highest Dividend Yields in the S&P 500

Dividend investors should know that blindly buying stocks with the highest dividend yields can be a dangerous game.

Indeed, an unusually high dividend yield is often a warning sign. That's because stock prices and dividend yields move in opposite directions. It's possible that a too-good-to-be-true dividend yield is simply an effect of a stock having lost a lot of value.

And anytime a company's stock is slumping badly, it's worth wondering if its dividend is sustainable at current levels.

Case in point: look at Walgreens Boost Alliance (WBA). Not too long ago, the troubled pharmacy chain was a component of the Dow Jones Industrial Average and a member of the S&P 500 Dividend Aristocrats, an index of companies that have hiked their payouts annually for at least a quarter of a century.

WBA was forced to cut its dividend last year in order to save cash, and was dropped from the Dow and the Aristocrats. As of January 30, 2025, WBA's dividend sported a tempting yield of 8.7%. The following day, however, Walgreens suspended its dividend.

Cut to today and Walgreens is set to go private. The WBA dividend suspension hurt, but it wasn't really a surprise.

Stocks with the highest dividend yields

So, yes, sometimes stocks with the highest dividend yields can be fool's gold. And this could be pertinent to some of the stocks with the highest dividend yields in the S&P 500 today.

Be forewarned that in some cases, the names below have entered elite-yield territory only because their share prices have come under stress. In turn, that has some analysts concerned about the sustainability of payouts going forward.

Dow (DOW) leads the list this month, but then shares have come under pressure due to sluggish demand in Europe and other major international markets. Happily for dividend investors, some Buy-rated blue chip stocks anchor the list.

Verizon Communications (VZ), one of Wall Street's top Dow Jones stocks, has raised its dividend annually for two decades.

Meanwhile, Pfizer (PFE) has a 15-year track record of consecutive hikes to its payout. Asset manager Franklin Resources (BEN) is another elite dividend grower that makes the list.

With those explanations and caveats out of the way, below please find the 15 S&P 500 stocks with the highest dividend yields.

Market data, analysts' estimates and analysts' recommendations are as of May 25, 2025, courtesy of YCharts and S&P Global Market Intelligence. Stocks are listed by forward dividend yield, from highest to lowest.