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The Top 10 S&P 500 Dividend Stocks for June

The S&P 500 may have crossed 1900 for the first time ever, but these stocks still have impressive yields despite new highs

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Top S&P 500 Dividend Stocks #3 – Transocean (RIG)

S&P 500 dividend stocks transocean rigRIG Dividend Yield: 7.04%

Offshore driller Transocean (RIG) makes the top 10 dividend stocks for a fourth consecutive month. Unfortunately for anyone holding Transocean stock, the dividend yield propelled it into the top 10 only because the stock has fallen so far. RIG stock is down a painful 14% for the year-to-date, hurt by a large number of rigs coming off contract and the same pressure on rates paid that’s weighing on Ensco.

Happily for shareholders, however, is the fact that RIG appears to have found a bottom. Quarterly earnings beat Wall Street forecasts, and the market also likes the RIG restructuring plan, which will spin off eight rigs into a new publicly traded company.

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