Three Notable High-Yield Dividend Stocks to Acquire for 2024

For investors looking ahead to 2024, seeking a balanced portfolio that offers both income and growth potential is key. Amid the sea of investment opportunities, certain high-yield dividend stocks stand out as being particularly intriguing for the upcoming year. These companies not only offer attractive dividend payouts but also hold promise for steady growth, thus catering to the dual mandate of income and capital appreciation. Highlighted below are three compelling stocks to consider adding to your investment watchlist for 2024: UPS, FDX, KMT, and PSX.

United Parcel Service, Inc. UPS

As a venerated player in the global shipping and logistics industry, United Parcel Service has a significant foothold that dates back to its foundation in 1907. Known by its iconic brown delivery trucks, UPS boasts a wide-reaching network that sustains its ability to deliver consistent dividend yields to shareholders. The company's focus on expanding its services and modernizing its fleet contributes to its notable income and growth prospects for years to come.

FedEx Corporation FDX

Standing as another giant in the delivery services domain, FedEx Corporation, previously known as Federal Express Corporation, commands a substantial share of the market with a strong brand reputation. Headquartered in Memphis, Tennessee, FDX has been known for pioneering overnight shipping services and a system that could track packages and provide real-time updates - features that have now become industry standards. FedEx has consistently rewarded investors with dividends, making it a solid choice for those in search of stable high-yield investment options.

Kennametal Inc. KMT

Pittsburgh-based Kennametal Inc. specializes in advanced materials and cutting solutions that are essential in the face of extreme wear, corrosion, and high-temperature conditions. KMT has cultivated a niche for itself through the development of tungsten carbides, ceramics, and super hard materials. By catering to industries where durability is paramount, Kennametal ensures a steady demand for its offerings and, by extension, reliable returns for its shareholders.

Phillips 66 Company PSX

The diversification within the energy sector is well-represented by the Phillips 66 Company, a multifaceted player in the American energy landscape. With a strategic presence in refining, midstream, chemicals, and marketing and specialties, PSX is geared towards leveraging the dynamic energy market conditions. Its robust dividend yield and a forward-looking approach towards renewable energy solutions align PSX with both current income generation and future growth expectations.

income, growth, dividend