3 Standout High-Yield Dividend Stocks for Steadfast Income in 2024

For investors aiming to balance their portfolios with stocks that offer both regular income through dividends and growth potential, certain high-yield dividend stocks present a particularly attractive opportunity as we look towards 2024. This article highlights three such stocks that have the financial robustness and business models to deliver both steady income and growth in the next year and beyond.

United Parcel Service (UPS)

UPS, commonly known as United Parcel Service, is an American shipping and logistics powerhouse established in 1907. Renowned for its global delivery network, UPS has consistently rewarded investors with dividends, boasting a solid track record of financial performance. With e-commerce continuing to thrive and global supply chains becoming increasingly intricate, UPS's services are in high demand, setting up the company for potential growth and continued dividend payouts.

FedEx Corporation (FDX)

FDX, or FedEx, is another titan in the package delivery sector. Headquartered in Memphis, Tennessee, FedEx has been connecting the world through its diverse range of delivery services. While it operates in a competitive landscape, its size and scale allow for efficiencies and an ability to invest in new technologies and services, supporting its income and growth prospects. Shareholders have come to appreciate FedEx's commitment to returning value through dividends, positioning it as a solid pick for those seeking reliable high-yield investments.

Kennametal Inc. (KMT)

Stepping into the industrial sector, KMT, or Kennametal Inc., is a leader in providing high-performance materials such as tungsten carbides and ceramics. Based in Pittsburgh, Pennsylvania, Kennametal's expertise in extreme wear and high-temperature applications makes it indispensable across multiple industries, including aerospace, energy, and transportation. As companies continually seek ways to improve efficiency and reduce maintenance costs, Kennametal's products are in strong demand, supporting its financial health and ability to sustain its dividends.

Phillips 66 Company (PSX)

Leveraging its position in the energy sector, PSX, better known as the Phillips 66 Company, delivers a compelling proposition as a high-yield dividend stock. Headquartered in Houston, Texas, Phillips 66 operates in a volatile yet lucrative industry. With its diversified approach that spans refining, marketing, midstream, and chemicals, the company is well-positioned to manage the cyclical nature of the energy market. This diversification not only facilitates steady cash flows but also supports its generous dividend policy, making it a potent choice for income-seeking investors.

income, growth, dividends