The Tool Desk
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What “high dividend” means—and what a yield tells you
Dividend yield is the annual dividend divided by the share price. Because price is in the denominator, a falling share price can push the displayed yield higher even if the dividend has not increased. A high yield may therefore reflect market concern about the company as well as the size of its payout.
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Fidelity’s June 9, 2026 article cautions: “If a stock has a very high dividend yield, it’s typically a signal that investors don’t believe the company will be able to sustain its dividend—i.e., that the dividend will be cut or stopped.” The figure alone does not show whether a company is undervalued or whether its dividend is safe. Read Fidelity’s dividend-stock guidance.
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Fidelity’s highest-yield screen: June 3, 2026
Fidelity’s screen covered stocks trading on the NYSE, Nasdaq, or American Stock Exchange, required an upcoming ex-dividend date within the following 180 days, and sorted results by dividend yield. These are the yields reported by Fidelity as of June 3, 2026—not current quotes or recommendations. Fidelity’s screen and methodology.
#1 Best Overall
| Company | Yield as of June 3, 2026 |
|---|---|
| Oxford Square Capital Corp. | 30.00% |
| FS KKR Capital Corp. | 21.10% |
| OFS Capital Corp. | 19.88% |
| NexPoint Real Estate Finance Inc. | 18.65% |
| Prospect Capital Corp. | 17.36% |
| BlackRock TCP Capital Corp. | 17.35% |
| Cion Investment Corp. | 17.34% |
| ARMOUR Residential REIT Inc. | 16.69% |
| TriplePoint Venture Growth BDC Corp. | 16.61% |
| Great Elm Capital Corp. | 16.13% |
A 30.00% screen yield for Oxford Square Capital or a 21.10% yield for FS KKR Capital is a reason to investigate the payout, not proof that investors will receive that return. The screen’s order describes yield on that date under its filters; it does not rank companies by dividend durability.
A quality-filtered screen produces a different list
Fidelity’s second screen added strong dividend coverage, positive expected profit growth, and other filters. Its yields were also reported as of June 3, 2026. The difference between this list and the yield-sorted screen shows how strongly the chosen filters shape results; it does not establish that either list is superior or that any company will maintain its dividend. Fidelity’s screen details.
Rank #2
| Company | Yield as of June 3, 2026 |
|---|---|
| Canadian Natural Resources Ltd. | 3.83% |
| Huntington Bancshares Inc. | 3.82% |
| First American Financial Corp. | 3.37% |
| Kontoor Brands Inc. | 3.02% |
| EOG Resources Inc. | 2.94% |
| The Toronto-Dominion Bank | 2.86% |
| Canadian Imperial Bank of Commerce | 2.85% |
| First Horizon Corp. | 2.83% |
| Ameren Corp. | 2.81% |
| Royal Bank of Canada | 2.66% |
How to evaluate a dividend before investing
Confirm the yield and its date
Check whether a quoted yield is based on past dividends or an expected annual payout, and note the share-price date used. Fidelity’s figures above are historical screen results as of June 3, 2026. Prices, dividends, and screen rankings can change; verify the latest price and company dividend declaration before relying on a current yield.
Check dividend coverage
Compare profits with the dividend distributions. Fidelity notes that a higher profit-to-dividend coverage ratio may indicate greater sustainability, all else equal. It is a useful signal, not a guarantee: profits can weaken and future payouts can change.
Compare dividends with free cash flow
Look at whether cash dividends have persistently exceeded free cash flow. Fidelity identifies that pattern as a possible sustainability concern. Consider it alongside the company’s financial outlook rather than treating a single period as conclusive.
Review payment history and expected profits
Look for consistency in past payments and assess the company’s outlook, including expected profit growth. A history of regular dividends does not guarantee future payments. Fidelity’s quality-filtered screen used strong coverage and positive expected profit growth as part of its filters, but those criteria do not eliminate investment risk.
Rank #4
Individual stocks or a diversified high-dividend ETF?
Owning individual stocks concentrates company-specific risk: a dividend cut or business setback at one company can directly affect that holding. A fund offers an index-based approach, but its methodology, expenses, and market risks still matter.
Vanguard describes the Vanguard High Dividend Yield ETF (VYM) as tracking an index of common stocks characterized by high dividend yields. Vanguard reported a 0.04% expense ratio dated February 27, 2026; check the current fund fact sheet for updated information. Vanguard VYM profile and VYM fact sheet.
That fund information provides a comparison point, not a guarantee of income or a recommendation to choose a fund over individual shares. Compare the fund’s current index approach and expenses with the risks and research demands of selecting companies yourself.
Quick Recap
How to use these lists
- Use the screen as a starting point. Select a list based on whether you want to investigate yield rankings or a screen that also applies coverage and growth filters.
- Recheck each candidate. Confirm the latest share price, declared dividend, coverage, free cash flow, payment history, and financial outlook using current company information.
- Decide whether concentration fits. Compare the company-specific exposure of individual stocks with an index-based fund’s methodology, expenses, and market risks.
- Make no decision from yield alone. A screen result is a snapshot, not a prediction that a payout will continue.
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