We’ve never paid this much for gasoline.
At the moment, the average pump price is up to $4.14, according to the Oil Price Information Service. That shattered the previous record high of $4.11 set back in 2008.
Unfortunately, it may only get worse, with Russia saying oil could hit $300.
That’s according to a recent Reuters report that says, “Western countries could face oil prices of over $300 per barrel and the possible closure of the main Russia-Germany gas pipeline if governments follow through on threats to cut energy supplies from Russia.”
As a result of higher prices, a number of high-dividend paying stocks have become far more attractive to income investors.
In fact, here are three that pay a yield of 5% or more.
Exxon Mobil (XOM)
At the moment, Exxon Mobil pays a dividend yield of 4.4%.
The Board of Directors of Exxon Mobil Corporation today declared a cash dividend of $0.88 per share on the Common Stock, payable on March 10, 2022 to shareholders of record of Common Stock at the close of business on February 10, 2022.
Analysts also just raised their price targets on XOM. MKM Partners for example raised its target to $84 from $81. BMO Capital raised its target to $86 from $73. Citi also raised its target from $74 to $80 a share.
Valero Energy (VLO)
With a dividend yield of about 4.67%, Valero Energy declared a regular quarterly cash dividend on common stock of $0.98 per share. The dividend is payable on March 3, 2022 to holders of record at the close of business on February 3, 2022.
Or, you can invest in green energy companies, like NextEra Energy (NEE).
With energy pricing surging, green energy names, like NEE, have been moving higher, as well. The company recently declared a regular quarterly common stock dividend of $0.425. The dividend is payable on March 15, 2022, to shareholders of record on March 1, 2022.
