Nearly all 30 stocks in the Dow Jones Industrial Average pay dividends, but not all of them have exceptionally high dividend yields. Fourteen of the 30 stocks in the Dow yield 2% or more, but because of the Dow’s selectivity, it can be a great place to turn for yield if you’re seeking Dividend Aristocrats (stocks that have raised their dividends at least 25 years in a row) or high-dividend, blue-chip stocks. With that in mind, what are the highest-paying dividend stocks in the Dow today?
The 10 Highest Paying Dividend Stocks in the Dow
1. Verizon (VZ)
2. Chevron (CVX)
3. Nike (NKE)
4. Amgen (AMGN)
5. Procter & Gamble (PG)
6. Home Depot (HD)
7. Merck (MRK)
8. McDonald’s (MCD)
9. International Business Machines (IBM)
10. Coca-Cola (KO)
Like the index itself, the highest-paying dividend stocks in the Dow are well-established, high-quality American companies. Many are over 100 years old. For some of them, however, their best days are behind them. Some have very high dividend payout ratios that show they’re returning most of their cash to shareholders at this point—rather than reinvesting in their business.
Below, I take a closer look at each of the highest-paying dividend stocks in the Dow and separate the dogs from the dividend champs.
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1. Verizon (VZ)
Dividend Yield: 5.8%
Telecoms typically pay high dividends, and the highest dividend yield in the Dow almost always belongs to Verizon. Verizon is one of the top three U.S. wireless carriers but faces stiff competition from AT&T (T) and T-Mobile. All the telecoms have spent recent years lowering prices and sweetening plans to lure customers, which has resulted in good deals for consumers but has cut into corporate revenues and earnings. Verizon’s sales initially peaked in 2015, and it saw lower revenues in 2016-2017. But top-line growth swung higher in 2018, and after the 2020 debacle, the top line is once again in the ascendant.
For its part, Verizon is investing heavily in forward-looking ventures, including the “Internet of Things” and digital content. While economic uncertainty persists going forward, it should be kept in mind that VZ has a tendency to outperform other Dow 30 components in periods of economic weakness, thanks largely to its healthy subscription-based business. In the Great Recession of 2008-2009, for instance, VZ experienced a price drop of only 33% compared with a far more devastating 50% drop for the broad market.
2. Chevron (CVX)
Dividend Yield: 3.9%
Chevron is one of the world’s largest oil companies, with energy exploration, production, refining, trading and transport operations that circle the globe. Founded in 1879, Chevron has paid dividends since 1970.
Like the rest of the energy sector, Chevron’s stock tanked in early 2020 but had fully recovered by 2022. Then, after being range-bound for the next three years, 2026 brought with it a major change in character, with shares up more than 15% this year alone.
Chevron has a steady record of dividend payments despite crises in the energy sector, most recently increasing its dividend 4% coming into 2026. Although the stock’s dividend payout ratio has popped over 100% several times, CVX is currently on the Dividend Aristocrats list.
The stock is choppy at times and has a tendency to surge and crash with oil prices. But should crude rally, CVX is a worthwhile choice for investors who want some exposure to the leaner and meaner energy sector.
3. Nike (NKE)
Dividend Yield: 3.6%
Nike isn’t a name you’d typically associate with a high dividend yield, but a significant stretch of underperformance has pushed the dividend yield up substantially.
This formerly high-growth, high-profile sportswear company manufactures some of the most recognizable sneaker brands on the planet, including the Air Jordan brand of basketball shoes and offerings from wholly owned subsidiary Converse.
Nike currently offers a dividend yield of 3.6%, paying $0.41/share quarterly, which is up from $0.40/share last year. The company also boasts 24 consecutive years of dividend growth, putting it on the threshold of achieving Dividend Aristocrat status.
But the elephant in the room (and the reason it’s on this list) is the share price. NKE has fallen 66.3% in the last five years and is lower by 26.7% in the last year alone. In fact, shares are trading at prices last seen all the way back in 2014, and with consumers feeling pinched, investors shouldn’t consider the stock for its dividend alone.
4. Amgen (AMGN)
Dividend Yield: 3.0%
Originally founded in 1980, Amgen is an American biopharmaceutical company that has expanded its presence to 100 countries worldwide. It specializes in cardiovascular disease, oncology, bone health, neuroscience, nephrology and inflammation and specifically targets diseases for which there are no or limited viable alternative treatments.
In the company’s fiscal 2025, revenues came in at a record-high $36.7 billion, rising 10% from the prior year’s total. Like most biopharmas, the company is constantly playing defense against generics, but Amgen’s robust pipeline offers it a sizeable moat.
As for the dividend, Amgen recently raised it to $2.52 from $2.38 per share quarterly. Couple the yield with Amgen’s longer-term performance (up 42.6% in the last five years with strong sector tailwinds) and its ability to weather the storm in the event of an economic downturn, and you get an attractive dividend stock.
5. Procter & Gamble (PG)
Dividend Yield: 3.0%
Procter & Gamble is an American multinational consumer goods company that’s been doing business since 1837 and has been a Dow Jones constituent since 1932.
The brand portfolio is a who’s who list of products that you can likely find all over your home. From Pampers, Charmin, and Bounty to Tide, Crest, and Gillette, if you use it every day, odds are good that it’s made by Procter & Gamble.
The company boasts 70 years of dividend increases and, most recently, paid a quarterly dividend of just under $1.09 per share.
As for the stock, it’s down 12.3% in the last year and up only 9.2% in the last five (which is underperforming the Dow itself, which is up 46.8% in the last five years).
6. Home Depot (HD)
Dividend Yield: 2.9%
The Home Depot is the world’s largest home improvement retailer. Founded in 1978, the company is headquartered in Atlanta, Georgia, and operates thousands of stores across the United States, Canada, and Mexico.
Home Depot sells a wide range of products, including building materials, tools and hardware, plumbing and electrical supplies, appliances, garden and outdoor products, paint and décor items, and more.
It serves DIY customers (homeowners completing their own projects) and professional contractors (“Pros”) who rely on bulk purchasing, job-site delivery, and specialized services (their appeal to Pros has been a consistent differentiator from peer Lowe’s (LOW)).
Beyond retail sales, Home Depot offers services such as tool rental, installation (e.g., flooring, roofing, HVAC), and online ordering with in-store pickup or delivery. The company has invested heavily in e-commerce and supply chain capabilities to integrate physical stores with digital sales.
The company’s fortunes tend to be tied to the strength of the housing market and consumers, so the stock has been in a bit of a rough patch, down 14.0% in the last year and down 0.2% in the last five years.
As for the dividend, the company recently hiked the quarterly payout from $2.30 per share to $2.33, which took effect in March. It was a modest hike from the firm, but it did mark the company’s 156th consecutive quarterly dividend.
7. Merck (MRK)
Dividend Yield: 2.8%
Merck, originally founded as the American arm of the German Merck Group in 1891, is a global healthcare company that operates in two segments: Pharmaceutical and Animal Health.
The company has multiple drugs in production with “blockbuster” status (more than $1 billion in annual revenue), most notably Keytruda and Januvia, which are used in cancer immunotherapy and diabetes treatment, respectively.
The company has a strong track record of raising or maintaining its dividend over the last 25 years, most recently raising the dividend from $0.81 a share to $0.85 in December 2025.
As for the stock, MRK has risen 55.8% in the last year and is 67.1% over the last five.
8. McDonald’s (MCD)
Dividend Yield: 2.7%
Arguably the most recognizable brand on the planet, McDonald’s needs no introduction.
The company slings low-cost burgers and fries in more than 100 countries across the globe, with more than 44,000 stores worldwide, 14,000 of which are in the U.S, that serve 68 million people every day.
The company boasts five decades of dividend increases and most recently paid out $1.86 per share (which was raised from $1.77 at the end of 2025).
As for the stock, shares have shed 10.6% in the last year and are up only 20.4% over the last five years as the company navigates rising prices and changing consumer tastes.
9. International Business Machines (IBM)
Dividend Yield: 2.6%
IBM is a multinational technology company founded in 1911 and headquartered in Armonk, New York. It is one of the world’s oldest and largest IT companies.
IBM provides hardware, software, cloud computing, artificial intelligence (notably Watson), consulting services, and enterprise infrastructure solutions. It has historically been known for mainframe computers and has played a major role in the development of modern computing. Today, IBM focuses heavily on hybrid cloud, AI, quantum computing, and business technology services for large organizations and governments.
Although somewhat uncommon for a tech company, IBM has also been a reliable dividend payer for many years, with consecutive quarterly dividends dating back to 1916.
Shares have been relatively lackluster for a tech company in 2026, given that they’ve dipped 11.9% so far this year alone. But even with the recent weakness, shares have performed quite well over the longer term, having risen 87.0% in the last five years.
10. Coca-Cola (KO)
Dividend Yield: 2.6%
Coca-Cola, the ubiquitous beverage company that needs no introduction, is the largest non-alcoholic beverage company in the world with a portfolio of soft drinks, energy drinks, juices and beverages sold worldwide comprising over 200 individual brands. While the stock is something of a slow grower, its products are also resilient, which tends to help them hold up in times of trouble.
Analysts are projecting mid-single-digit growth for the next five years, although the company beat earnings expectations in its most recent quarter.
As for the dividend, Coca-Cola increased its quarterly dividend from $0.48.5 to $0.51 at the beginning of 2025 and then again to $0.53 at the beginning of this year. Coca-Cola has a history of raising dividends at the beginning of the year, so the minor hike should come as no surprise.
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*This post is periodically updated to reflect market conditions.
