10 Dividend-Paying Stocks Worth Your Attention in 2024: A Deep Dive Into High-Yield Opportunities

If you’re hunting for reliable income streams in today’s market, dividend-paying stocks shouldn’t be overlooked. While trendy sectors like AI grab headlines, the proven strategy of dividend investing continues to deliver steady returns. The beauty of stocks that pay dividends lies in their combination of income generation and long-term wealth accumulation through reinvestment. Let’s examine 10 compelling options offering exceptional yield potential this year.

The Dividend Investment Case: Why These Stocks Matter

Before diving into specific picks, understand why dividend-yielding stocks deserve portfolio space. Companies distributing high dividends often operate in stable, mature industries with predictable cash flows. For dividend-paying stocks, those structured as business development companies (BDCs) or real estate investment trusts (REITs) are legally required to pass 90% of taxable income to shareholders—a structural advantage for income seekers.

High-Yield Champions to Monitor

Horizon Technology (NASDAQ: HRZN) — 11.1% Yield

Leading the yield charge is Horizon Technology, a venture debt specialist serving tech and sustainable energy startups. Over the past decade, the company returned 131% with dividends reinvested. Trading at a price-to-book ratio of 1.2—below rivals in its category—Horizon presents an attractive entry point for those seeking exposure to emerging company financing at premium income levels.

Hercules Capital (NYSE: HTGC) — 10.6% Yield

This BDC has impressed long-term shareholders with a 230% total return over 10 years while maintaining robust operational performance. Hercules structures venture loans with warrants attached, capturing additional upside when portfolio companies exit via acquisition or IPO. The company’s proven track record combined with its mandatory dividend distribution makes it particularly suited for passive income portfolios.

Altria (NYSE: MO) — 9.6% Yield

Among established blue-chip dividend payers, Altria stands out as a Dividend King—a rare distinction earned through 50+ consecutive years of dividend increases. Despite headwinds in the tobacco sector from wellness trends and inflation pressures, the company prioritizes shareholder returns. This consistency distinguishes dividend-paying stocks like Altria from flashier but less reliable alternatives.

Ares Capital (NASDAQ: ARCC) — 9.5% Yield

Another BDC worth considering, Ares focuses on lower middle-market leveraged buyouts across diverse industries. The company’s distinction includes backing by Berkshire Hathaway through its New England Asset Management subsidiary. Ares has outperformed S&P 500 benchmarks, suggesting that dividend-paying stocks in this category offer competitive total returns alongside income.

Rithm Capital (NYSE: RITM) — 9.1% Yield

This mortgage REIT trades 40% below decade highs as real estate sentiment has cooled. At a price-to-book of 0.92—the lowest among mortgage REIT peers—Rithm offers deep valuation for those believing in mean reversion. The combination of discount valuation and 9.1% yield makes dividend-paying stocks like Rithm intriguing contrarian plays.

Enbridge (NYSE: ENB) — 7.8% Yield

The natural gas pipeline operator recently acquired gas utilities from Dominion Energy, positioning itself as North America’s largest utility. Despite underperformance over the past year, Enbridge trades at a P/E of 16.5—well below its five-year average of 26.4. For those seeking dividend exposure to essential infrastructure, stocks that pay dividends through regulated utility operations offer downside protection.

Energy Transfer (NYSE: ET) — 8.4% Yield

Structured as a master limited partnership, Energy Transfer passes profits directly to investors. The company trades at a P/E of 13.9—roughly half historical levels—following the Crestwood acquisition. This discount to valuation averages suggests meaningful upside potential for dividend-paying stocks in midstream energy.

Enterprise Products Partners (NYSE: EPD) — 7.2% Yield

Despite quarterly free cash flow volatility, this midstream energy company consistently raised its dividend, signaling premium shareholder focus. Trading at a forward P/E of 10.3 versus the S&P 500’s 23.4, Enterprise Products offers remarkable valuation relief. Recent acquisitions position dividend-paying stocks in this category for renewed growth acceleration.

Kinder Morgan (NYSE: KMI) — 6.5% Yield

After a challenging 2023, Kinder Morgan acquired STX Midstream to reignite growth. The STX deal should drive distribution increases going forward. At 6.5% yield, this dividend payer appears positioned for a turnaround year, making it attractive for those timing entry into midstream recovery.

Verizon Communications (NYSE: VZ) — 6.6% Yield

Though telecom growth is modest, Verizon’s dividend resilience stands out. The company raised its dividend for 17 consecutive years—a feat competitors haven’t matched. Among telecommunications stocks that pay dividends, Verizon represents the gold standard for dividend safety and consistency.

The Takeaway: Building an Income Portfolio

Dividend-paying stocks offer a tangible path to passive income generation. Whether through BDCs financing emerging ventures, REITs distributing real estate profits, or utilities collecting steady fees, these income-producing securities deserve consideration in balanced portfolios. The key lies in matching your risk tolerance with appropriate positions—combining higher-yielding but more volatile options with stable dividend aristocrats for portfolio harmony.