The Top 10 S&P 500 Dividend Stocks for July

From about 5% to 10%, these dividend stocks offer gushers of dividend yield even as the market marches higher

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There was little change among the top dividend stocks in the S&P 500 this month. The same steady names continued to throw off  the highest dividend yields, even as those dividend yields continued to trend down.

Dividend185 The Top 10 S&P 500 Dividend Stocks for JulyIndeed, for the first time since we started tracking these dividend stocks, the top dividend yield among stocks in the S&P 500 fell below 10%. True, that’s still a gusher of a dividend yield, but the decline underscores the effect of rising stock prices on dividend stocks.

Markets keep notching all-time highs — the Dow Jones Industrial Average just crossed 17,000 for the first time in history — and that weighs on dividend yields. (As with bonds, prices and yields on dividend stocks move in opposite directions.)

The dividend yield on the S&P 500 now stands at 1.91%, down from 1.93% a month ago and 2.1% at this time last year. The decline among the hottest dividend stocks has been even steeper.

The utilities sector — this year’ market darling — is a fountain of dividends. But share-price appreciation has dented the sector’s dividend yield for new money. Around this time last year, the dividend yield on the Dow Jones Utility Average was 3.02%. Today, that dividend yield is down to 2.71%.

The dividend stocks in the S&P 500 with the highest dividend yields still offer plenty of income for new money, but not nearly as much as they did just a few months ago.

To get a sense of the best dividend yields to be found among dividend stocks, here are the top 10 S&P 500 dividend stocks for July. (Note: Dividend yields are as of July 14.)

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