10 best performing UK dividend stocks in 2024

Dividend-paying stocks that combine strong balance sheets with high yields can provide investors with stable income, provide a buffer against market downturns, and allow them to grow their investments at healthy times.

Top dividend payers in 2024 included capital markets firm CMC Markets UK CMCX, airline International Airlines Group IAG and bank NatWest NWG.

To find the best-performing income-focused stocks over 10 years, we screened the Morningstar UK index, which measures the performance of the UK's broad regional markets, and ranked the top 97% of stocks by market capitalization in companies with a forward dividend yield of at least 1.5%. It was targeted. , Real estate investment trusts are excluded.

Best performing UK dividend stocks in 2024

1 – CMC Markets UK CMCX 2 – International Aviation Group IAG 3 – NatWest Group NWG 4 – DS Smith SMDS 5 – Morgan Sindall Group MGNS 6 – Barclays BARC 7 – Cairn Homes CRN 8 – Plus500 PLUS 9 – Keller Group KLR 10 – Beazley Group bez

The UK's best-performing dividend stocks

Source: Morningstar Direct.

How have dividend stocks performed?

The Morningstar UK Dividend Yield Focus Index, which tracks the performance of UK-listed blue chip dividend stocks, is down 2.4% over the past month but up 9.8% over the past year.

Dividend stock 1-year performance

Source: Morningstar Direct.

The overall UK stock market, as measured by the Morningstar UK Index, was little changed this month but is up 9.9% for the year.

Returns and Metrics for the Best Performing Dividend Stocks of 2024

CMC Markets UK CMCX

Capital markets firm CMC Markets UK is up 146.1% in 2024 and up 1.5% on an annualized basis over the past three years. Trading at 2.48 per share, the stock has a forward dividend yield of 4.19%. CMC Markets UK pays investors a trailing 12-month dividend of 8p per share. The stock has a Quantitative Morningstar Rating of 3 stars.

International Aviation Group IAG

Airline IAG is up 96.4% in 2024 and is up 28.8% on an annualized basis over the past three years. At 3.02x per share, the stock has a forward dividend yield of 1.68% and a trailing 12-month dividend of 3p per share. This stock, which has no economic moat, is moderately overvalued, trading 35% above its fair value estimate of 2.24 times per share. The Morningstar rating is 2 stars.

NatWest Group NWG

Bank NatWest returned 91.2% in 2024 and 24.0% on an annualized basis over the past three years. The stock's price of 4.02 gives it a forward dividend yield of 4.35%. NatWest pays investors a trailing 12-month dividend of 18p per share. With a fair value estimate of 3.60 per share and no economic moat, the stock is moderately overvalued, trading at a 12% premium. The Morningstar rating is 2 stars.

DS Smith SMDS

Packaging and containers company DS Smith is up 82.3% in 2024, up 16.0% on a compounded annual basis over the past three years. DS Smith shares, trading at 5.42 per share, have a forward dividend yield of 3.36% and a 12-month junior dividend of 18p per share. The Morningstar rating is 2 stars.

Morgan Sindall Group MGNS

Engineering and construction company Morgan Sindall returned 81.5% in 2024 and 18.7% on an annualized basis over the past three years. It trades at 39 per share and has a forward dividend yield of 3.06%. Morgan Sindall pays investors a trailing 12-month dividend of 1.14 per share. The Morningstar rating is 2 stars.

Barclays BARC

Barclays Bank returned 79.7% in 2024 and returned 15.8% on an annualized basis over the past three years. Barclays shares trade at 2.68x per share, giving a forward dividend yield of 3.06% and a trailing 12-month dividend of 8p per share. This stock, which has no economic moat, is trading near its fair value estimate of 2.30 per share. The Morningstar rating is 3 stars.

Cairn Home CRN

Homebuilder Cairn Homes is up 72.3% in 2024 and up 30.2% on an annualized basis over the past three years. Cairn Homes shares, trading at 1.94 per share, have a forward dividend yield of 3.3% and a 12-month junior dividend of 5p per share. The Morningstar rating is 2 stars.

plus500 plus

Capital markets firm Plus500 is up 71.9% in 2024 and up 30.8% on an annualized basis over the past three years. Trading at 27.08 per share, Plus500 shares have a forward dividend yield of 2.46% and will pay investors a 12-month trailing dividend of 63p per share. The stock has a Quantitative Morningstar Rating of 2 stars.

Keller Group KLR

Engineering and construction company Keller returned 70.2% in 2024 and 16.9% on an annualized basis over the past three years. The stock price of 14.50 provides a forward dividend yield of 3.3%. Keller pays investors a 12-month trailing dividend of 45p per share. The stock has a 3-star Quantitative Morningstar Rating.

Beasley Group BEZ

Beazley, a specialty insurer, is up 59.1% in 2024 and up 22.5% on an annualized basis over the past three years. At 8.16x per share, Beazley's forward dividend yield is 1.74%, with a 12-month trailing dividend of 13p per share. The Morningstar rating is 2 stars.

What are Morningstar UK indices?

Morningstar UK indices measure the performance of the UK's broad regional markets, covering the top 97% of stocks by market capitalization. The index does not include environmental, social or governance criteria.

What is the Morningstar UK Dividend Yield Focus Index?

The Morningstar UK Dividend Yield Focus Index captures the performance of a portfolio of high-quality dividend securities.

This is a subset of the Morningstar UK index, which represents 97% of stock market capitalization and includes only stocks that pay dividends. Stocks are screened based on their economic moat and financial strength compared to other stocks in their sector. Real estate investment trusts are excluded.

The 25 highest-yielding stocks are included in the index, weighted by the dollar value of their dividends. Check out the full rulebook here.

Best Dividend Stock Leaders: More Ideas to Consider

Investors looking to find top-performing or cheap dividend stocks for further research can:

Review the full list of dividend stocks included in the Morningstar UK Dividend Yield Focus index. Dividend stocks with a Morningstar rating of 4 or 5 stars are undervalued, according to our metrics. Read our monthly analysis of the latest dividend movements among the top FTSE 100 dividend payers. Use the Morningstar Screener tool to find the best dividend stocks based on your specific criteria. You can search for stocks based on evaluation indicators such as dividend yield, stock price/profit, etc. Use Morningstar Portfolio Manager to build a watchlist of the best dividend stocks and create views that make it easy to track the valuation, rating, and dividend yield of the stocks on your list. When buying stocks, it's more than just dividends that matter. Read here how valuation and competitive advantages, also known as economic moats, are important when it comes to a stock's outperformance potential. Read Morningstars' Guide to Stock Investing to learn how our approach to investing can influence your stock selection process.

Companies not formally covered by a Morningstar analyst are statistically matched to analyst-rated companies, allowing our models to calculate a quantitative star rating.

This article was edited by Bella Albrecht, edited by Lauren Solberg, and reviewed by Sunniva Kolostyak.

This article was generated with the help of automation and reviewed by Morningstar editors. Learn more about using automation with Morningstars.

The author owns no shares of any securities mentioned in this article. Learn about Morningstar's editorial policy.

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