10 S&P 500 companies with the highest dividend yields

While the average dividend yield of the S&P 500 index has fallen to just 1.1%, its lowest level in decades, there is a group of companies that pay their shareholders five to seven times that amount. But a high yield doesn't come free. For most of these companies, it is the result of a decline in the share price, not growing dividends. Which firms now offer the highest dividend yields in the entire index, and where does risk hide behind an attractive number?

Dividend stocks are returning to the spotlight in 2026. After years when tech growth names dominated the market and investors largely overlooked dividends, capital is starting to rotate back toward companies that generate stable cash and regularly return it to shareholders, amid higher interest rates, geopolitical uncertainty, and cooling sentiment around AI investments. The average dividend yield of the S&P 500 is around 1.1%, historically very low. The companies in today's overview offer yields roughly between 5% and 7%, i.e. multiples higher.

But it is precisely with the highest yields that the greatest caution is needed. Dividend yield is calculated as the annual dividend divided by the current share price. So if the share price drops sharply, the yield automatically rises, without the company paying out more money. A high number is therefore often not a sign of generosity, but a signal that the market doubts the payout's sustainability. This year painfully reminded us of that lesson with several names from today's list.

The following selection is based on trailing twelve-month (TTM) yields. However, three companies on the list have cut their dividends over the past year. Their forward yield – i.e., yield calculated based on the current dividend rate – is therefore significantly lower than the trailing twelve-month yield.