High-dividend stocks have long attracted investors seeking steady income. And amid the volatility and uncertainty of 2026, that low-risk appeal has been in favor.
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Companies that distribute a significant portion of earnings as dividends must have reliable cash flow as well as consistent profits. However, elevated yields can also signal big risks, as shares may have declined significantly to result in that big dividend as a percentage of stock price.
Distinguishing between genuinely strong income opportunities and potential value traps requires careful analysis. The following nine stocks are a good place to start, as they all represent the highest dividend-paying stocks in the S&P 500 and all boast yields above 6%.
| Stock | Forward dividend yield |
| VICI Properties Inc. (ticker: VICI) | 6.2% |
| Healthpeak Properties Inc. (DOC) | 6.2% |
| Pfizer Inc. (PFE) | 6.5% |
| United Parcel Service Inc. (UPS) | 6.6% |
| Best Buy Co. Inc. (BBY) | 6.6% |
| Kraft Heinz Co. (KHC) | 6.8% |
| General Mills Inc. (GIS) | 6.8% |
| Campbell’s Co. (CPB) | 7.3% |
| Conagra Brands Inc. (CAG) | 9.8% |
VICI Properties Inc. (VICI)
Dividend yield: 6.2%
VICI specializes in “experiential” properties in the gaming and hospitality sector. That includes iconic Las Vegas properties such as Caesars Palace and MGM Grand but also more modest entertainment complexes across America. Given some of the recent challenges with international tourism to these keystone Vegas properties, coupled with broader economic concerns weighing on consumer sentiment, VICI has posted a loss of around 10% in the last 12 months. However, shares have ticked up in 2026 and dividends are still generous, so investors may want to watch this high dividend-paying stock for signs of a lasting turnaround.
Healthpeak Properties Inc. (DOC)
Dividend yield: 6.2%
Healthpeak Properties owns medical offices and retirement communities, offering a business model that tends to hold up in economic downturns. Following its “merger of equals” with Physicians Realty Trust in early 2024, DOC now controls nearly 700 health care properties totaling about 49 million square feet. Scale comes at a cost, however. The company carries roughly $9 billion in debt, and this leverage remains a key risk that has turned off investors. Its stock is down 40% over the past five years, so investors should acknowledge the risks of this health care real estate company. That said, DOC is the top short-term performer on this list of otherwise challenged stocks, with more than 20% in gains since Jan. 1. Almost all of those gains came in early May after an impressive first-quarter earnings report, sending its dividend yield down to a still-impressive 6.2%.
Pfizer Inc. (PFE)
Dividend yield: 6.5%
Pfizer is one of the few stocks on this list with a positive return since Jan. 1. That’s in part because of its scale as a leading pharmaceutical company that gives it low-risk appeal, thanks to health care spending remaining durable in any economic environment. Despite recent resilience, PFE has faced challenges in its product pipeline as it has fallen behind rivals in the race for obesity treatments and its vaccine sales have slowed. Dividend payouts are safe at only about 60% of total earnings; however, that dividend has grown very slowly. PFE now pays 43 cents quarterly, compared with 40 cents at the beginning of 2022.
United Parcel Service Inc. (UPS)
Dividend yield: 6.6%
Widespread uncertainty around U.S. tariffs has weighed on a host of businesses, and UPS is at the front lines of this trend thanks to its central role in supply chains. Additionally, UPS is in the final stages of drawing down a long-term relationship with e-commerce giant Amazon.com Inc. (AMZN) that has resulted in 30,000 job cuts and a predicted 50% drop in package volume. Shares of UPS are flat since January, showing the market seems to have priced in these changes, but the 50% drop in share price over the last five years demonstrates the risk of a dividend stock amid a major business transition.
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Best Buy Co. Inc. (BBY)
Dividend yield: 6.6%
Best Buy is a big-box technology store that sells computers, TVs, appliances and other home electronics. Shares spiked amid the coronavirus pandemic as consumers spent more on the comforts of home, but shares are down almost 60% since this short-lived peak. Shares have stabilized a bit, and are down “only” 12% in the last year. However, uncertainty around trade policies along with weak consumer spending and inflationary pressures remain concerning for investors in this high-yield stock.
Kraft Heinz Co. (KHC)
Dividend yield: 6.8%
The merger that formed Kraft Heinz a decade ago delivered unmatched scale but has since become a case study in the pitfalls of overemphasizing cost efficiency. Burdened by significant debt and an aging product portfolio, the business has experienced a prolonged decline that includes a 20% drop in the last year and a five-year plunge of 50%. Management recently explored splitting the company into two publicly traded entities, but reversed course and left shareholders with many questions about the future. Although the current $1.60 annual dividend is covered by earnings, it follows a 36% cut in 2019 implemented to stabilize the balance sheet. While among the highest dividend-paying stocks in the S&P 500, there is still significant risk in KHC stock.
General Mills Inc. (GIS)
Dividend yield: 6.8%
General Mills is the company behind Cheerios cereals, Betty Crocker baking products and Yoplait yogurt, among other famous foodstuffs. When times get tough for consumers, they tend to cut back on luxuries like eating out and travel and instead stay closer to home with comfort food. Unfortunately, General Mills is no longer a go-to brand in shopping carts thanks to changing tastes. The stock has tumbled almost 40% in the last year and is off about 60% from its 2023 highs. The company has a rich history of dividends, with payouts spanning 127 years; however, the pressure on share prices is worth noting despite its high yield and dividend track record.
Campbell’s Co. (CPB)
Dividend yield: 7.3%
Best known for its Campbell’s soups, CPB also makes Prego pasta sauce, Goldfish crackers and other popular brands. Campbell’s as a corporate entity rebranded in November 2024 to formally drop the word “soup” from its name, signaling an effort to modernize its product portfolio as well as its identity, but sales and profitability continue to struggle. This S&P 500 dividend stock is down 40% in the last 12 months, and while its dividend is currently covered at about 70% of current earnings, revenue is expected to decline in both FY 2026 and FY 2027, and investors remain skeptical despite CPB’s high yield.
Conagra Brands Inc. (CAG)
Dividend yield: 9.8%
Conagra Brands, a leading packaged foods company, continues to struggle with higher input costs and evolving consumer preferences. The firm’s portfolio includes well-known names such as Bird’s Eye, Orville Redenbacher and Swiss Miss. Despite a long history dating back to 1919, Conagra’s growth has lagged amid shifting dietary trends. Shares have declined more than 40% in the last 12 months, though the company’s $1.40 annual dividend remains comfortably covered by projected earnings. While the income stream appears secure at present, weak share performance has diminished investor enthusiasm and cost concerns remain amid inflationary pressures.
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9 Highest Dividend-Paying Stocks in the S&P 500 originally appeared on usnews.com
Update 05/08/26: This story was previously published at an earlier date and has been updated with new information.
