3 Dividend Stocks Yielding Around 3% That You Can Buy Right Now for Durable and Growing Income

Core Insights - The article highlights three companies—Coca-Cola, Southern Company, and Sun Communities—that offer higher-yielding dividends, significantly above the average yield of the S&P 500, which is currently less than 1.5% [1][8] Company Summaries Coca-Cola - Coca-Cola's dividend yield is approaching 3%, and it has a strong history of dividend payments, marking its 62nd consecutive annual dividend increase [2] - The company is expected to generate $9.2 billion in free cash flow in 2024, which is sufficient to cover its annual dividend of approximately $4.4 billion and planned capital investments of $2.2 billion [2] - Coca-Cola anticipates a high-single-digit annual growth rate in earnings per share while converting 90%-95% of its profits into free cash, supporting its ability to pay a growing dividend [3] Southern Company - Southern Company's dividend yield is over 3%, and it has maintained or increased its dividend for 76 consecutive years, with 23 years of consecutive increases [4] - The company's predictable income is supported by government-regulated rate structures and long-term contracts, alongside stable demand for electricity and natural gas [4] - Recent investments in new nuclear power-generating units and clean energy production are expected to provide stable cash flow and support future dividend growth [4][7] Sun Communities - Sun Communities has a dividend yield nearly at 3% and has never cut its dividend in over three decades as a public company, with long-term growth in payments [5] - The REIT focuses on stable properties like manufactured home communities and campgrounds, with same-property net operating income (NOI) growing every year since 2000 [5] - Sun Communities is well-positioned for future growth, benefiting from contractual rent increases and a solid investment-grade balance sheet, allowing for expansion and acquisition opportunities [6][7]