10 Top-Performing Dividend Stocks of 2025

Dividend-paying stocks that combine healthy balance sheets with hefty yields can provide investors with steady incomes, cushion against market downturns, and increase investments at a healthy clip.

In 2025, the top-performing dividend payers included healthcare services company CVS Health CVS, asset management firm Invesco IVZ, and leisure company Hasbro HAS.

To find the year’s 10 best-performing income-focused stocks, we screened the Morningstar Dividend Leaders Index, which tracks the performance of the 100 highest-yielding stocks from a broad basket of consistent dividend payers.

The Top-Performing Dividend Leaders of 2025

1. CVS Health CVS
2. Invesco IVZ
3. Hasbro HAS
4. Lincoln Financial Group LNC
5. Comerica CMA
6. Travel + Leisure TNL
7. Ford F
8. UGI UGI
9. OneMain Holdings OMF
10. Citizens Financial Group CFG

How Have Dividend Stocks Performed?

Over the past month, the Morningstar Dividend Leaders Index, which captures the 100 highest-yielding names with stable and sustainable payouts, rose 1.45%. The broad Morningstar Dividend Composite Index gained 0.22%. In the 12 months leading up to Dec. 31, the dividend leaders index gained 15.49%, and the dividend composite index gained 15.49%.

The overall US stock market, as measured by the Morningstar US Market Index, has lost 0.03% on the month and has risen 17.35% on the year.

Yields and Metrics for 2025’s Best-Performing Dividend Stocks

CVS Health

Healthcare plans company CVS Health climbed 84.26% in 2025 and fell 2.23% over the past three years, on an annualized basis. At $79.36, its stock has a forward dividend yield of 3.35% and an annual dividend of $2.66 per share. The stock, which has no economic moat, is trading at an 18% discount to its fair value estimate of $97 per share. It has a Morningstar Rating of 4 stars.

Invesco

Asset management firm Invesco gained 56.92% in 2025 and climbed 16.86% over the past three years, on an annualized basis. The stock’s $26.27 price gives it a forward dividend yield of 3.20%. Invesco pays investors an annual dividend of $0.84 per share. With a fair value estimate of $24 per share and no economic moat, the stock is 9% overvalued and has a Morningstar Rating of 3 stars.

Hasbro

Leisure company Hasbro climbed 52.54% in 2025 and rose 14.00% over the past three years, on an annualized basis. At $82, its stock has a forward dividend yield of 3.41% and an annual dividend of $2.80 per share. The stock, which has a narrow economic moat, is trading at a 6% discount to its fair value estimate of $87 per share. It has a Morningstar Rating of 3 stars.

Lincoln Financial Group

Life insurance company Lincoln Financial Group gained 46.11% in 2025 and climbed 17.57% over the past three years, on an annualized basis. The stock’s $44.53 price gives it a forward dividend yield of 4.04%. Lincoln Financial Group pays investors an annual dividend of $1.80 per share. The stock has a quantitative Morningstar Rating of 3 stars.

Comerica

Regional bank Comerica rose 45.14% in 2025 and gained 12.61% over the past three years, on an annualized basis. Trading at $86.93, its stock has a forward dividend yield of 3.27%. Comerica pays investors an annual dividend of $2.84 per share. The stock, which has no economic moat, is currently trading near its fair value estimate of $83 per share, leaving it with a Morningstar Rating of 3 stars.

Travel + Leisure

Travel services company Travel + Leisure gained 44.24% in 2025 and climbed 28.13% over the past three years, on an annualized basis. The stock’s $70.53 price gives it a forward dividend yield of 3.18%. Travel + Leisure pays investors an annual dividend of $2.24 per share. The stock has a quantitative Morningstar Rating of 3 stars.

Ford

Auto manufacturer Ford rose 40.10% in 2025 and gained 10.99% over the past three years, on an annualized basis. Trading at $13.12, its stock has a forward dividend yield of 4.57%. Ford pays investors an annual dividend of $0.60 per share. The stock, which has no economic moat, is currently trading at an 18% discount to its fair value estimate of $16 per share, leaving it with a Morningstar Rating of 4 stars.

UGI

Regulated gas company UGI climbed 37.90% in 2025 and rose 4.18% over the past three years, on an annualized basis. At $37.43, its stock has a forward dividend yield of 4.01% and an annual dividend of $1.50 per share. It has a quantitative Morningstar Rating of 3 stars.

OneMain Holdings

Credit services firm OneMain Holdings gained 37.58% in 2025 and climbed 33.83% over the past three years, on an annualized basis. The stock’s $67.55 price gives it a forward dividend yield of 6.22%. OneMain Holdings pays investors an annual dividend of $4.20 per share. The stock has a quantitative Morningstar Rating of 3 stars.

Citizens Financial Group

Regional bank Citizens Financial Group climbed 37.41% in 2025 and rose 17.27% over the past three years, on an annualized basis. At $58.41, its stock has a forward dividend yield of 3.15% and an annual dividend of $1.84 per share. It has a quantitative Morningstar Rating of 2 stars.

What Is the Morningstar Dividend Leaders Index?

The Morningstar Dividend Leaders Index captures the performance of the 100 highest-yielding stocks that have consistent records of paying dividends and can sustain those payments.

It’s a subset of the Morningstar US Market Index (which represents 97% of equity market capitalization) that includes only securities whose dividends are qualified income. Real estate investment trusts are excluded. Companies are screened for dividend consistency and durability. Each must have a positive five-year dividend per share growth and a dividend coverage ratio greater than 1. The 100 highest-yielding stocks are included in the index, weighted by the dollar value of their dividends. See the full rulebook here.

The Best Dividend Stock Leaders: More Ideas to Consider

Investors who would like to find more top-performing or cheap dividend stocks can do the following:

• Use the Morningstar Investor Screener tool to find the best dividend stocks according to your specific criteria. You can search for stocks based on their dividend yields, valuation measures like price/earnings ratios, and more.
• Use Morningstar Investor to build a watchlist of the best dividend stocks and easily follow those stocks’ valuations, ratings, and dividend yields.
• Watch our dividend stock video series, hosted by David Harrell, for ideas to consider.
• Review the full list of dividend stocks included in the Morningstar Dividend Leaders Index. Those dividend stocks with Morningstar Ratings of 4 or 5 stars are undervalued, according to our metrics.
• When it comes to buying stocks, it’s more than just dividends. Read here how valuations and competitive advantages—known as economic moats—matter when it comes to a stock’s potential for outperformance.
• Read Morningstar’s Guide to Stock Investing to learn how our approach to investing can inform your stock-picking process.

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