Dogs of the dow 2023: Dogs of the Dow 2023: 5 Dividend Stocks for Income Investors


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Revenue for Software increased 3% to $7,228 from $7,087 in comparable quarters due to 10% growth in Hybrid Platforms & Solutions and a 3% increase in Transaction Processing. Revenue was up 15% for RedHat, 9% for Automation, 8% for Data & AI, and 10% for Security. Consulting revenue increased 0.5% to $4,770M from $4,746 due to a 7% rise in Business Transformation, 10% in Technology Consulting, and 12% in Application Operations. Chevron also raised its dividend by 6% and announced a massive share repurchase program of $75 billion, or 23% of its current market capitalization. Adjusted earnings-per-share of $0.88 compared to $0.84 in the prior year. Large-cap stocks represent businesses with market caps above $10 billion.

The following table tracks the year-to-date performance of the high dividend paying stocks that make up the 2023 Dogs of the Dow plus the rest of the Dow 30 stock market index. In addition to stock price and YTD percent change, the current dividend yield is included for each Dow stock. Summary data (e.g. YTD percent change and dividend yield) for the Dogs of the Dow, Small Dogs of the Dow, Dow 30, and Dow Jones Industrial Average are included below. Don’t miss out on important revisions to the official Dogs of the Dow. We emphasize dividend yield, conservative payout ratio and valuation in our five picks.


As a result, the oil major grew its adjusted earnings-per-share by 60%, from $2.56 to $4.09, though this was $0.20 below estimates. On January 27th, 2023, Chevron reported financial results for the fourth quarter and full year. Goldman Sachs reported fourth quarter and full-year results on January 17th, 2023.

Walgreens Boots Alliance (WBA)

Cambridge and Duncan Financial Group and its affiliates are separate entities. Looking ahead, the 2023 Dow Dogs of the Dow strategy may continue to outperform the DJIA – but it might not. If it does, it will likely be due to the attractive dividend yields that these stocks offer. Company-wide revenue of $16,690M was flat from the prior year, while diluted adjusted earnings per share rose 7% to $3.60 from $3.35 year-over-year. Diluted GAAP earnings per share increased 15% to $3.13 in the quarter from $2.72 in the prior year. On January 31st, 2023, Amgen announced fourth-quarter and full-year results.

Next, the ARM-based chips produced by Advanced Micro Devices are eating into Intel’s PC and server market share. Intel designs and manufactures its own chips, while AMD designs and outsources manufacturing to TSMC. Lastly, clients are increasingly developing their own chips and outsourcing manufacturing to fabs like TSMC or Samsung. Along these lines, VillageMD recently acquired Summit Health for primary care, Shields for specialty care and CareCentrix for post-acute care. Whether this strategy will work or not, though, will take time to determine.

This is a great and simple strategy for value investors looking to purchase good businesses that are currently out of favor. This is rooted in an “old-school” value approach that views big dividends as a sign that high-quality blue chips are undervalued. And with just three simple steps, executed just once per year, we can create our own Dow Dogs ETF . Get Started Learn how you can make more money with IBD’s investing tools, top-performing stock lists, and educational content.

Walgreens Boots Alliance is the largest retail pharmacy in both the United States and Europe. Through its flagship Walgreens business and other business ventures, the company employs more than 315,000 people and has more than 13,000 stores. Revenue for Infrastructure was up 2% at $4,483M from $4,414M due to an 11% improvement in Hybrid Infrastructure and flat Infrastructure Support.

Verizon increases its dividend by about 2% annually and has done so for the past 19 years. The dividend is supported by a payout ratio of only about 49%. The strategy assumes the stocks are temporarily mispriced, and thus the yields are high. Additionally, the Dogs of the Dow are blue-chip stocks with sustainable growth and excellent reputations. For the quarter, revenue grew 3.5% to $35.3 billion, which was $160 million more than expected. Adjusted earnings-per-share of $1.19 compared unfavorably to $1.31 in the prior year but was in-line with estimates.

Yet for some investors, the prospect of owning solid stocks with an average dividend yield of 4.4% is too good to pass up. Regardless of whether the Dogs of the Dow outperform the stock market in 2023, many will find that the simple strategy gives them an easy way to get market exposure without a lot of hassle. The primary benefit that investors get from using the Dogs of the Dow strategy is that it takes almost no time to set up and maintain. At the beginning of the year, you just have to take a look at the 10 Dow stocks that finished the previous year with the highest dividend yields. He is a self-taught investor and blogger on dividend growth stocks and financial independence. Some of his writings can be found on Seeking Alpha, InvestorPlace, TalkMarkets, ValueWalk, The Money Show, Forbes, Yahoo Finance, FXMag, and leading financial blogs.

IBM returns as a Dog of 2023 despite rising 5.4% in 2022, due to its rich 4.7% dividend yield. Chevron, too, is a repeat Dog with a yield still at 3.3%. And Amgen, following a nearly 17% rise in 2022, is a Dog for 2023 with a yield of 3.3%. The following table lists the ten highest yielding Dow stocks as of the close on December 30, 2022. Of these ten Dow stocks, the five stocks with the lowest closing price are the 2023 Small Dogs of the Dow. For all steps required to invest in the 2023 Dogs of the Dow, get the free Dogs of the Dow Checklist.


At the midpoint, this would be a 7% decrease from the prior year. 3M provided an outlook for 2023, with the company expecting adjusted earnings-per-share of $8.50 to $9.00. On a comparable basis, adjusted earnings-per-share for 2022 was $9.88. We project that IBM will see earnings-per-share grow 4.1% to $9.50 in 2023. The decline in sales was due to lower revenue in all operating segments, as the company noted slower economic activity globally and destocking customer behavior.

Dogs Of The Dow 2023: 10 Blue-Chip Bargains

That said, Intel introduced Sapphire Rapids in its Xeon series of chips for data centers. Next, Intel’s impending launch of Intel 4, 7nm fabrication will make the firm’s chips more competitive versus AMD’s chips. Finally, Intel is spending tens of billions of dollars to expand its fab services with new plants in Arizona and Ohio. Close up of Intel sign at entrance of The Intel Museum in Silicon Valley. Intel is an American multinational corporation and technology company.


Moreover, Amgen has pursued a strategy of acquiring smaller companies and gaining access to new molecules, compounds and therapies. Since 2021, Amgen has acquired ChemoCentryx, Tenebio and FivePrime Therapeutics in multi-billion-dollar deals. The firm is a leader in mainframes, hybrid cloud, transaction processing and global consulting. That said, IBM has room to improve revenue growth and margins.

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Click here to instantly download your free spreadsheet of all Large Cap Stocks now, along with important investing metrics. But just like that, in a disastrous 2022, the Dogs stood up when just about everything—including the industrial average itself—fell down. The Dow Dogs, as mentioned, finished in the green on a total-return basis while the S&P 500 lost 18%. IBD Videos Get market updates, educational videos, webinars, and stock analysis. After a tumultuous year, this simple strategy that outperformed sagging markets might be just what you’re looking for.

Broadband had 416K net additions during the quarter, which included 379 fixed wireless net additions. Cisco offered a revised outlook for the fiscal year 2023 as well, with the company now expecting revenue growth of 9% to 10.5%, compared to 4.5% to 6.5% and 4% to 6% previously. Adjusted earnings-per-share is now expected in a range of $3.73 to $3.49, compared to $3.51 to $3.58 and $3.49 to $3.56 previously. At the midpoint, this would be an 11.9% improvement from the prior year.

S&P 500

He also works as a part-time freelance equity analyst with a leading newsletter on dividend stocks. He was recently in the top 1.0% and 100 of financial bloggers as tracked by TipRanks for his articles on Seeking Alpha. Still, the stock is yielding more than 6.5%, well above the five-year average and more than three times the dividend yield of the S&P 500.

Dogs Of The Dow Top The S&P 500

For equity investors, 2022 brought the biggest losses since the 2008 great financial crisis. On January 25th, 2023, Verizon announced fourth-quarter and full-year earnings for the period ending December 31st, 2022. On January 24th, 2023, 3M reported fourth-quarter and full-year earnings results. The Healthcare segment supplies medical and surgical products as well as drug delivery systems. The transportation & Electronics division produces fibers and circuits with the goal of using renewable energy sources while reducing costs. The Consumer division sells office supplies, home improvement products, protective materials, and stationery supplies.

Fears of a recession have many investors gravitating toward value and dividend stocks once again. Shares suffered when a combination of rising interest rates and the tough market environment for investment banking dealt the financial giant a double whammy. Amgen is yielding 3.2%, and the dividend is growing at a double-digit rate.

Verizon is dirt cheap, trading at a price-to-earnings (P/E) ratio of only 7.7x, well below the 5-year and 10-year ranges. As a result, Verizon is an excellent choice for investors seeking income at a reasonable price. Verizon Communications was created by a merger between Bell Atlantic Corp and GTE Corp in June 2000. Verizon is one of the largest wireless carriers in the country.

Future growth is supported by a moderate payout ratio of 42%. The stock is probably fairly valued, but a successful acquisition of Horizon could mean future growth. The firm has several blockbuster drugs with billions of dollars in sales. But investors were worried about patent expirations and rising competition from biosimilars.

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