10 Top-Performing Dividend Stocks of November 2024

Dividend-paying stocks that combine healthy balance sheets with hefty yields can provide investors with steady incomes, cushion against market downturns, and grow investments at a healthy clip.

In November 2024, the top-performing dividend payers included regulated gas company UGI UGI, regional bank First Horizon Bank FHN, and specialty chemicals company Chemours CC.

To find the month’s 10 best-performing income-focused stocks, we screened the Morningstar Dividend Leaders Index, which tracks the performance of the 100 highest-yielding stocks from a broad basket of consistent dividend payers.

The Top-Performing US Dividend Leaders of November 2024

1. UGI UGI
2. First Horizon Bank FHN
3. Chemours CC
4. Oneok OKE
5. OneMain Financial OMF
6. Zions Bancorporation ZION
7. Travel + Leisure TNL
8. Huntington National Bank HBAN
9. Kinder Morgan KMI
10. First Interstate BancSystem FIBK

How Have Dividend Stocks Performed?

Over the past month, the Dividend Leaders Index, which captures the 100 highest-yielding names, rose 4.4%. The broad Morningstar Dividend Composite Index gained 5.1%. In the 12 months leading up to Nov. 30, the Dividend Leaders Index gained 33.7% and the Dividend Composite Index gained 28.5%.

The overall US stock market as measured by the Morningstar US Market Index has gained 6.5% on the month and 34.4% on the year.

Yields and Metrics for November’s Best-Performing Dividend Stocks

UGI

Regulated gas company UGI rose 27.0% in November and 44.9% over the past 12 months. Trading at $30.37 per share, the stock has a forward dividend yield of 4.94%. UGI pays investors an annual dividend of $1.50 per share. The stock has a quantitative Morningstar Rating of 3 stars.

First Horizon Bank

Regional bank First Horizon rose 21.9% in November and 69.9% over the past 12 months. At $21.13 per share, its stock has a forward dividend yield of 2.84% and an annual dividend of $0.60 per share. It has a quantitative Morningstar Rating of 3 stars.

Chemours

Specialty chemicals company Chemours gained 21.1% in November and fell 17.1% over the past 12 months. The stock’s $21.74 price gives it a forward dividend yield of 4.6%. Chemours pays investors an annual dividend of $1 per share. The stock has a quantitative Morningstar Rating of 3 stars.

Oneok

Midstream oil and gas company Oneok rose 18.3% in November and gained 70.7% over the past 12 months. Trading at $113.60 per share, Oneok stock has a forward dividend yield of 3.49% and an annual dividend of $3.96 per share. The stock, which has a narrow economic moat, is moderately overvalued, trading 28% above its fair value estimate of $89 per share. It has a Morningstar Rating of 2 stars.

OneMain Financial

Credit services firm OneMain gained 17.6% in November and rose 45.3% over the past 12 months. Trading at $57.35 per share, its forward dividend yield is 7.25%. OneMain pays investors an annual dividend of $4.16 per share. It has a quantitative Morningstar Rating of 3 stars.

Zions Bancorporation

Regional bank Zions gained 17.1% in November and rose 74.5% over the past 12 months. At $60.52 per share, Zions stock has a forward dividend yield of 2.84% and an annual dividend of $1.72 per share. The stock, which has no economic moat, is trading near its fair value estimate of $59 per share. It has a Morningstar Rating of 3 stars.

Travel + Leisure

Travel services company Travel + Leisure rose 16.9% in November and 62.2% over the past 12 months. Trading at $55.87 per share, Travel + Leisure stock has a forward dividend yield of 3.58% and an annual dividend of $2 per share. It has a quantitative Morningstar Rating of 3 stars.

Huntington National Bank

Regional bank Huntington rose 15.5% in November and gained 65.5% over the past 12 months. Trading at $18.01 per share, Huntington stock has a forward dividend yield of 3.44% and pays investors an annual dividend of $0.62 per share. The stock, which has no economic moat, is currently trading at a 24% premium to its fair value estimate of $14.50 per share, leaving it moderately overvalued, leaving it with a Morningstar Rating of 2 stars.

Kinder Morgan

Midstream oil and gas company Kinder Morgan gained 15.3% in November and rose 67.4% over the past 12 months. The stock’s $28.27 price gives it a forward dividend yield of 4.07%. Kinder Morgan pays investors an annual dividend of $1.15 per share. With a fair value estimate of $22 per share and a narrow economic moat, the stock is moderately overvalued, trading at a 28% premium. It has a Morningstar Rating of 2 stars.

First Interstate BancSystem

Regional bank First Interstate rose 15.1% in November and gained 42.3% over the past 12 months. At $34.97 per share, First Interstate has a forward dividend yield of 5.38% and an annual dividend of $1.88 per share. It has a quantitative Morningstar Rating of 3 stars.

What Is the Morningstar Dividend Leaders Index?

The Morningstar Dividend Leaders Index captures the performance of the 100 highest-yielding stocks that have consistent records of paying dividends and can sustain those payments. It’s a subset of the US Market Index (representing 97% of equity market capitalization) that includes only securities whose dividends are qualified income. Real estate investment trusts are excluded. Companies are screened for dividend consistency and sustainability. Each must have a positive five-year dividend per share growth and a dividend coverage ratio greater than 1. The 100 highest-yielding stocks are included in the index, weighted by the dollar value of their dividends. See the full rulebook here.

The Best Dividend Stock Leaders: More Ideas to Consider

Investors who would like to find more top-performing or cheap dividend stocks can do the following:

• Review the full list of stocks in the Dividend Leaders Index. Stocks with Morningstar Ratings of 4 or 5 stars are undervalued, according to our metrics.
• Use the Morningstar Investor Screener tool to find the best dividend stocks according to your specific criteria. You can search for stocks based on their dividend yields, valuation measures like price/earnings ratios, and more.
• Use Morningstar Investor to build a watchlist of the best dividend stocks and easily follow those stocks’ valuations, ratings, and dividend yields.
• Watch our dividend stock video series, hosted by David Harrell, for ideas to consider.
• When it comes to buying stocks, it’s more than just dividends. Read here how valuations and competitive advantages—known as economic moats—matter when it comes to a stock’s potential for outperformance.
• Read Morningstar’s Guide to Stock Investing to learn how our approach to investing can inform your stock-picking process.

Companies that are not formally covered by a Morningstar analyst are statistically matched to analyst-rated companies, allowing our models to calculate a quantitative star rating.