High-yield large-cap dividends
Query: US large-cap dividend stocks with dividend yield above 2.5%, payout ratio under 70%, and positive free cash flow · data as of 2026-10-14
Built a 40-name large-cap dividend quality screen: US stocks >$10B with dividend yield >2.5% (capped at 12% to remove one-off/special-dividend distortions), payout ratio <70% (yield × P/E), and positive free cash flow, sorted by yield descending. Table includes sector/industry, market cap, yield, payout, FCF and FCF yield, net margin, P/E & forward P/E, 1M/6M returns, % from 150D SMA, debt/equity, momentum potential, trend flags and technical state, with per-name qualitative comments plus an overview narrative on dividend coverage and the current rate backdrop.
A quality-oriented income screen: US large caps (>$10B) yielding more than 2.5% that still cover the dividend comfortably (payout under 70%) and generate positive free cash flow. The list skews toward Financials (insurers, regional banks, asset managers), telecom, consumer staples and net-lease/REIT real estate, with reasonable leverage preferred. Sorted by dividend yield, highest first.
Large-Cap Dividend Payers: Yield >2.5%, Payout <70%, Positive FCF
| Symbol | Company | Sector | Industry | Market Cap | Dividend Yield | Payout Ratio | Free Cash Flow | FCF Yield | Net Margin | P/E (TTM) | Forward P/E | 1M Return | 6M Return | % from 150D SMA | Debt / Equity | Momentum Potential | Above 50D SMA | Technical State | Comments |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PGR | Progressive Corporation (The) | Financials | Insurance - Property & Casualty | 1.239e+11 | 6.46% | 69.20% | 1.72e+10 | 13.30% | 12.90% | 10.71 | 13.12 | -3.50% | 6.18% | 2.32% | 0.26 | 67.3 | 0 | Uptrend | Property-casualty insurer with a disciplined underwriting model and consistently strong reserve development; the dividend is backed by underwriting cash flow rather than balance-sheet leverage. Watch the personal-auto rate cycle — decelerating pricing growth after several strong years is the main earnings swing factor. |
| GLPI | Gaming and Leisure Properties, | Real Estate | REIT - Specialty | 1.144e+10 | 6.23% | 69.60% | 1.115e+09 | 9.71% | 53.32% | 11.17 | 11.56 | -5.98% | -15.19% | -11.75% | 1.81 | 53.4 | 0 | Downtrend | Net-lease REIT owning casino real estate leased to regional gaming operators. Rent is contractual and largely insulated from tenant operating volatility, but tenant concentration and the health of regional casinos are the key credit risks; higher-for-longer rates pressure the REIT's cost of capital and valuation multiple. |
| VICI | VICI Properties Inc. | Real Estate | REIT - Diversified | 2.526e+10 | 5.88% | 52.30% | 2.507e+09 | 9.94% | 70.36% | 8.89 | 7.67 | -5.58% | -15.50% | -11.78% | 0.63 | 33.7 | 0 | Downtrend | Experiential net-lease REIT with gaming and entertainment tenants and long-duration, inflation-linked master leases. Diversification and rent escalators support the payout, but the structure is rate-sensitive and the share price trades with the long end of the curve. |
| CMCSA | Comcast Corporation | Communication Services | Telecom Services | 7.47e+10 | 4.70% | 31.70% | 2.189e+10 | 29.55% | 16.17% | 6.75 | 5.81 | -12.46% | -23.43% | -14.68% | 0.94 | 14.8 | 0 | Downtrend | Cable/broadband and media cash machine trading at a deep discount to the market. Broadband subscriber losses and the theme-park/studio mix are the debate; the stock's low multiple and heavy buyback-plus-dividend capacity are the offset. A capital-return story living or dying on broadband net adds. |
| TFC | Truist Financial Corporation | Financials | Banks - Regional | 5.567e+10 | 4.56% | 47.80% | 5.175e+09 | 9.23% | — | 10.48 | 9.13 | -9.69% | -6.22% | -6.57% | 1.1 | 71.2 | 0 | Break-below | Southeast US regional bank. Net interest margin benefits from a steeper curve but the deposit franchise and credit quality are the watch items; recent technical weakness reflects broad financials breadth deterioration rather than company-specific news. Capital return looks sustainable at current payout. |
| MO | Altria Group, Inc. | Consumer Staples | Tobacco | 1.221e+11 | 4.35% | 67.00% | 9.074e+09 | 7.59% | 29.84% | 15.4 | 12.47 | 4.76% | 17.06% | 7.77% | — | 70.2 | 1 | Break-above | Tobacco cash cow whose dividend has been raised for decades. The structural decline in cigarette volumes is offset by pricing power and the smoke-free (oral nicotine/vape) transition; it is effectively a bond-like total-return name, sensitive to rates and regulatory headlines rather than the macro cycle. |
| MKC | McCormick & Company, Incorporat | Consumer Staples | Packaged Foods | 1.205e+10 | 4.22% | 31.40% | 7.002e+08 | 5.83% | — | 7.45 | 13.58 | -9.19% | -13.58% | -9.88% | 0.75 | 8.9 | 0 | Downtrend | Spice and seasonings maker with a high-margin flavoring moat and steady dividend growth. Volume recovery post the inflation-driven price increases is the catalyst to watch; a defensive staple that typically outperforms when the market rotation favors cash-flow certainty. |
| GFI | Gold Fields Limited | Materials | Gold | 3.167e+10 | 4.06% | 36.60% | 1.455e+08 | 0.45% | 24.81% | 9.02 | 6.62 | -17.15% | -23.28% | -10.36% | — | 37.8 | 0 | — | South African gold miner; the dividend is a direct function of the gold price and Rand cost base, so it is the highest-beta name on this list. Gold miners have been under pressure as real rates rose and the usual inflation hedge decoupled — a leveraged play on bullion, not a core income holding. |
| FMS | Fresenius Medical Care AG | Health Care | Medical Care Facilities | 1.267e+10 | 4.05% | 45.40% | 1.242e+09 | 9.80% | 6.07% | 11.22 | 5.92 | -6.18% | -1.89% | -4.50% | — | 23.1 | 0 | — | Dialysis-services provider with a stable, reimbursement-driven cash flow base and a low effective valuation. The dividend is small relative to earnings power, so the real attraction is the low forward multiple; US reimbursement policy and the obesity-drug impact on dialysis volumes are the overhangs. |
| FNF | Fidelity National Financial, In | Financials | Insurance - Specialty | 1.053e+10 | 3.97% | 54.40% | 5.618e+09 | 53.40% | 4.70% | 13.68 | 6.78 | -8.91% | -17.04% | -15.54% | 0.66 | 14.8 | 0 | Downtrend | Title-insurance and specialty financial holding. Title volumes are levered to housing turnover, so the dividend depends on a housing market that is still rate-constrained — a cyclical earnings base despite the steady-looking yield. |
| TROW | T. Rowe Price Group, Inc. | Financials | Asset Management | 2.125e+10 | 3.88% | 38.90% | 1.479e+09 | 6.84% | 28.53% | 10 | 9.68 | -4.42% | 6.20% | -3.86% | 0.04 | 77.4 | 0 | Uptrend, Break-below | Active asset manager with fee-based revenue and no net debt. Flows and fee compression are the structural headwinds as investors shift to passive, but the balance sheet is pristine and the payout is well covered — a quality over growth income name. |
| JD | JD.com, Inc. | Consumer Discretionary | Internet Retail | 3.603e+10 | 3.75% | 66.70% | 2.149e+09 | 5.94% | 1.77% | 17.79 | 6.32 | -1.51% | -15.22% | -7.53% | 2.36 | 22 | 0 | Downtrend | Chinese e-commerce and logistics major; the dividend policy has been newly expanded. The valuation is extremely depressed on China macro and regulatory concerns, so this is a value/dividend play with geopolitical and policy risk rather than a pure income holding. |
| BBD | Banco Bradesco Sa | Financials | Banks - Regional | 4.627e+10 | 3.67% | 36.20% | 1.212e+09 | 2.73% | — | 9.86 | 7.38 | 18.42% | 3.39% | 17.35% | — | 48.3 | 1 | — | Brazilian bank; a direct beneficiary of the EM rally and steep local rates, which support net interest margin. The yield is attractive but the earnings are tied to Brazilian credit and currency, so treat it as a macro-levered income name rather than a defensive one. |
| T | AT&T Inc. | Communication Services | Telecom Services | 1.579e+11 | 3.62% | 27.50% | 1.964e+10 | 12.54% | 18.61% | 7.61 | 8.99 | -12.76% | -7.22% | -5.10% | — | 18.4 | 0 | — | Telecom giant whose deleveraging story has rebuilt dividend coverage after the prior payout cut. Free cash flow is now comfortably above the dividend, so the payout looks secure; broadband build-out and wireless competition are the swing factors. |
| FIS | Fidelity National Information S | Information Technology | Information Technology Services | 1.829e+10 | 3.61% | 19.70% | 4.181e+09 | 23.03% | 3.61% | 5.45 | 5.3 | -5.01% | -24.90% | -14.25% | 1.33 | 16.9 | 0 | Downtrend | Financial-technology and payments processor trading at a single-digit multiple. The dividend is small relative to cash generation, so the low valuation and high FCF yield are the real draw; the key question is stability in the banking-processing segment after a rocky stretch. |
| NKE | Nike, Inc. | Consumer Discretionary | Footwear & Accessories | 5.243e+10 | 3.48% | 58.60% | 2.184e+09 | 4.16% | 6.70% | 16.81 | 15.37 | -2.54% | -20.79% | -16.09% | 0.88 | 5.6 | 0 | Downtrend | Athletic footwear leader with a long dividend-growth streak and a pristine balance sheet. The yield is elevated only because the stock has de-rated on weak China and wholesale-channel trends — a recovery bet on margin repair and brand health, funded comfortably by cash flow. |
| BEN | Franklin Resources, Inc. | Financials | Asset Management | 1.551e+10 | 3.24% | 67.40% | 9.116e+08 | 5.75% | 6.26% | 20.77 | 9.67 | -7.35% | 16.98% | -0.26% | 0.29 | 83.3 | 0 | Uptrend, Break-below | Asset manager with a high dividend and a strong technical setup, but the earnings base is levered to market levels and flows. The high payout leaves less room to absorb a market drawdown, so the dividend is safest when asset prices are rising. |
| BBY | Best Buy Co., Inc. | Consumer Discretionary | Specialty Retail | 1.869e+10 | 3.22% | 53.10% | 1.258e+09 | 6.82% | 2.56% | 16.5 | 12.61 | -3.44% | 43.92% | 19.03% | 1.35 | 56 | 1 | Uptrend | Big-box consumer-electronics retailer with a healthy, growing dividend and a strong technical recovery. Earnings are cyclical and exposed to consumer discretionary spending and tariff-sensitive product costs; the yield sits at a level the cash flow still covers with room. |
| STZ | Constellation Brands, Inc. | Consumer Staples | Beverages - Brewers | 2.156e+10 | 3.22% | 39.00% | 1.794e+09 | 8.34% | 18.46% | 12.12 | 10.28 | 3.07% | -21.15% | -7.40% | 1.45 | 3.4 | 1 | Downward channel (100%), Downtrend | Beer and spirits leader with pricing power and a defensive demand base. Beer volumes are under pressure from a softer US consumer and Hispanic-market trends, so near-term earnings risk is real; the dividend is covered but the payout leaves moderate slack. |
| TM | Toyota Motor Corporation | Consumer Discretionary | Auto Manufacturers | 2.221e+11 | 3.21% | 27.50% | 1.379e+10 | 6.17% | 9.97% | 8.55 | 11.95 | -3.51% | -11.53% | -0.84% | — | 27.1 | 0 | Downtrend | World's largest automaker; the yield reflects a very low valuation on cyclical earnings and currency headwinds. Toyota's balance sheet and cash position support the payout, but the auto cycle, EV transition spending and yen swings are the earnings drivers. |
| D | Dominion Energy, Inc. | Utilities | Utilities - Regulated Electric | 5.523e+10 | 3.19% | 69.30% | 3.81e+08 | 0.70% | 18.57% | 21.73 | 16.46 | -1.68% | 2.71% | -2.85% | 1.74 | 28 | 0 | Downtrend | Regulated electric utility with a large data-center-driven growth pipeline (notably in Virginia). The dividend is a core part of the thesis but financing a heavy capex plan in a high-rate environment is the risk; rate-base growth supports long-term payout coverage. |
| BMY | Bristol-Myers Squibb Company | Health Care | Drug Manufacturers - General | 1.211e+11 | 3.19% | 41.60% | 1.284e+10 | 11.10% | 14.64% | 13.06 | 9.04 | -6.02% | 4.63% | 0.17% | 2.06 | 66.1 | 0 | — | Big-pharma name generating massive cash flow and trading at a low multiple. Patent-cliff exposure on key drugs is the structural overhang, but the payout is well covered and the current health-care rotation makes it a funding-trade beneficiary. |
| KEY | KeyCorp | Financials | Banks - Regional | 2.112e+10 | 3.11% | 36.00% | 2.056e+09 | 9.68% | 24.34% | 11.57 | 9.26 | -8.80% | -6.46% | -7.51% | 0.57 | 75.3 | 0 | Downtrend | Regional bank with a healthy dividend; earnings are levered to net interest margin and credit costs. The stock was punished in the recent financials sell-off, but the payout appears sustainable at current earnings, and a steeper curve is a tailwind. |
| LVS | Las Vegas Sands Corp. | Consumer Discretionary | Resorts & Casinos | 2.398e+10 | 3.11% | 44.60% | 1.855e+09 | 7.73% | 14.34% | 14.35 | 10.51 | -10.30% | -33.39% | -22.22% | 13.1 | 7.8 | 0 | Downtrend | Macau and Singapore casino operator with a dividend policy tied to Asian gaming recovery. Singapore's strength offsets Macau's competitive intensity; the payout is meaningful but the earnings base is discretionary-spending dependent and geographically concentrated. |
| HBAN | Huntington Bancshares Incorpora | Financials | Banks - Regional | 3.051e+10 | 3.08% | 35.80% | 2.215e+09 | 7.19% | — | 11.62 | 8.04 | -8.96% | -7.70% | -7.66% | 0.73 | 36.8 | 0 | Downtrend | Midwest regional bank with diversified fee income and a solid capital position. The dividend is covered and the payout is low; net interest margin and commercial credit quality are the swing factors in a slowing economy. |
| AMCR | Amcor plc | Consumer Discretionary | Packaging & Containers | 1.953e+10 | 3.08% | 54.60% | 1.058e+09 | 5.48% | 3.40% | 17.76 | 9.4 | -0.42% | 7.39% | 2.50% | 1.3 | 63.6 | 0 | Uptrend | Packaging and containers producer with a stable, largely recession-resistant demand base and a defensible dividend. The Berry merger integration and cost synergies are the near-term catalysts; the payout is well within cash-flow means. |
| AEP | American Electric Power Company | Utilities | Utilities - Regulated Electric | 6.866e+10 | 3.01% | 65.90% | 6.944e+09 | 10.15% | 16.90% | 21.86 | 18.41 | 4.58% | -5.50% | -1.34% | 1.67 | 72.2 | 1 | Downtrend | Regulated electric utility with a long dividend-growth record and an expanding data-center power-demand pipeline. The heavy capital program is funded partly with equity and debt, so higher rates raise financing costs — the primary risk to the payout trajectory. |
| IBM | International Business Machines | Information Technology | Information Technology Services | 2.147e+11 | 2.96% | 59.90% | 1.21e+10 | 5.57% | 15.69% | 20.24 | 17.31 | -8.25% | -5.55% | -5.70% | 2.15 | 34.9 | 0 | Downtrend | Tech hardware and services conglomerate with a decades-long dividend-growth record and a deep enterprise software/consulting mix. The yield is above its history because growth has re-rated lower; it is now a value-and-income tech holding with a durable, well-covered payout. |
| TGT | Target Corporation | Consumer Staples | Discount Stores | 7.056e+10 | 2.95% | 60.60% | 2.835e+09 | 4.11% | 3.54% | 20.54 | 17.02 | 0.59% | 28.58% | 13.52% | 1.24 | 37.5 | 0 | Uptrend | Discount retailer with a growing dividend and a strong technical turn. Sales and margin have been under pressure from soft discretionary demand and promotions; the yield is safe but the earnings recovery depends on traffic and inventory discipline. |
| CFG | Citizens Financial Group, Inc. | Financials | Banks - Regional | 2.635e+10 | 2.94% | 40.10% | 2.085e+09 | 7.82% | 22.20% | 13.63 | 9.59 | -10.92% | -2.70% | -5.11% | 0.51 | 72.6 | 0 | Downtrend | Regional bank with well-covered dividend and a low payout ratio. Earnings are tied to net interest margin and credit normalization; the stock trades below peers, making it a valuation/income combination if the credit cycle holds. |
| PEG | Public Service Enterprise Group | Utilities | Utilities - Regulated Electric | 3.517e+10 | 2.79% | 49.00% | 2.6e+07 | 0.07% | 17.35% | 17.55 | 15.1 | 0.20% | -11.27% | -7.76% | 0.91 | 29.8 | 0 | Downtrend | Regulated utility with growing dividend coverage from its largely regulated base and a nuclear-heavy generation mix. Free cash flow is thin given a big capital program, so the payout is funded on earnings rather than FCF — a rate-sensitive income name. |
| ZTS | Zoetis Inc. | Health Care | Drug Manufacturers - Specialty & Generic | 3.111e+10 | 2.78% | 34.10% | 2.283e+09 | 7.44% | 28.23% | 12.28 | 11.32 | 2.53% | -36.95% | -12.51% | 2.88 | 3.8 | 1 | Downtrend | Animal-health leader with a durable, high-margin franchise and a modest dividend. The stock has de-rated sharply on pet-care spending normalization after the post-pandemic boom; the payout is small and safe, making this more a recovery bet than a pure income name. |
| SWK | Stanley Black & Decker, Inc. | Industrials | Tools & Accessories | 1.364e+10 | 2.76% | 60.90% | 6.879e+08 | 5.02% | 2.66% | 22.08 | 14.15 | 1.93% | 37.02% | 7.42% | 0.78 | 77.3 | 0 | Uptrend | Tools maker with a long dividend-growth streak, but leverage and a sluggish tool-demand backdrop are the risks. The payout is covered and the technical trend has turned up; the key is margin recovery as restructuring savings come through. |
| PG | Procter & Gamble Company (The) | Consumer Staples | Household & Personal Products | 3.636e+11 | 2.74% | 64.90% | 1.515e+10 | 4.26% | 18.55% | 23.68 | 21.16 | 6.72% | 10.81% | 7.64% | — | 51.8 | 1 | Break-above | Consumer-staples juggernaut with a decades-long dividend champion record and pricing power. Volume growth is modest and premium valuation is the constraint on total return, but the safety and reliability of the payout are unmatched. |
| PPG | PPG Industries, Inc. | Materials | Specialty Chemicals | 2.331e+10 | 2.74% | 41.20% | 1.163e+09 | 5.00% | 10.03% | 15.05 | 12.08 | -0.02% | -1.40% | -4.78% | 1.04 | 66.2 | 0 | Downtrend | Coatings and specialty-materials producer with a growing dividend and a cyclical earnings base tied to industrial and construction demand. Pricing power has protected margins; the payout is comfortably covered but demand softness is the near-term risk. |
| DKS | Dick's Sporting Goods Inc | Consumer Discretionary | Specialty Retail | 1.349e+10 | 2.71% | 36.20% | 4.002e+08 | 2.95% | 4.93% | 13.34 | 8.38 | 10.70% | -35.92% | -28.41% | 1.05 | 14.4 | 0 | Downtrend | Sporting-goods retailer with a healthy dividend and strong earnings growth, but a deeply cyclical retail base and a weak technical picture. Consumer discretionary spending and apparel-inventory trends are the swing factors; the payout remains well covered. |
| QSR | Restaurant Brands International | Consumer Discretionary | Restaurants | 3.317e+10 | 2.65% | 48.20% | 1.449e+09 | 4.44% | 11.39% | 18.19 | 16.37 | -3.22% | -6.35% | -2.48% | 4.2 | 64.5 | 0 | — | Fast-food franchisor whose royalty-and-rent model generates highly stable cash flow. Heavy leverage is the trade-off for the dividend; same-store sales strength at Burger King and Tim Hortons is the catalyst to watch. |
| LOW | Lowe's Companies, Inc. | Consumer Discretionary | Home Improvement Retail | 1.057e+11 | 2.58% | 41.00% | 7.651e+09 | 7.23% | 7.71% | 15.9 | 14.11 | -3.24% | -21.97% | -12.65% | — | 15.2 | 0 | Downward channel (37%), Downtrend | Home-improvement retailer with a long dividend-growth record and strong cash generation. Sales are levered to housing turnover, which is still rate-suppressed; the payout is solid but the earnings recovery depends on a housing-market thaw. |
| PCAR | PACCAR Inc. | Industrials | Farm & Heavy Construction Machinery | 5.714e+10 | 2.54% | 58.10% | 3.673e+09 | 6.46% | 8.35% | 22.85 | 15.21 | -11.35% | -11.58% | -9.39% | 0 | 40.5 | 0 | — | Truck maker with a net-cash balance sheet and a well-covered dividend. Earnings are at a cyclical peak as heavy-truck demand normalizes lower, so the key risk is the pace of the freight downcycle; the balance sheet provides significant cushion. |
| EXE | Expand Energy Corporation | Energy | Oil & Gas E&P | 2.109e+10 | 2.52% | 19.80% | 1.839e+09 | 8.60% | 15.00% | 7.85 | 10.26 | -3.31% | -4.00% | -3.18% | 0.31 | 31.2 | 0 | Downtrend | Natural-gas producer formed from the Chesapeake/Southwestern merger; the dividend is levered to gas prices, which have been weak. Integration and free-cash-flow discipline are the story, but this is a commodity-price play rather than a stable income name. |
Dividend Quality & the Current Rate Backdrop
Reading this screen
These are large, cash-generative dividend payers where the distribution looks affordable: yield above 2.5%, payout below 70% of trailing earnings, and positive free cash flow. With the 10-year near 4.6% and the market charging a higher discount rate to financing-dependent growth, self-funding income names have been a relative haven — health care and staples led the tape while debt-funded AI infrastructure sold off.
Where the yield comes from. The highest yields cluster in Financials (insurers like PGR and CNA, regional banks, asset managers), net-lease REITs (VICI, GLPI) and telecom (T). Real estate and bank payouts are structurally higher — they distribute a large share of REIT taxable income or bank earnings — so compare payout ratios within sector rather than across the whole list.
Coverage is the differentiator. The combination of a below-average payout ratio and an above-average free-cash-flow yield marks the names with the most room to keep raising the dividend (Comcast, FIS, Progressive stand out on cash generation). A payout in the high-60s leaves little slack if earnings dip — the classic trap when a high yield meets a cyclical earnings base.
Balance-sheet quality matters in a higher-for-longer regime. Leverage separates resilient payers from stretched ones: names with debt/equity above ~1.5x have less flexibility, while net-cash businesses (PACCAR, T. Rowe Price) can sustain distributions through a downturn. Prefer the well-covered, lower-leverage end when the goal is income stability rather than maximum yield.
Sector read. Financials and REITs are rate-sensitive and have lagged in the recent risk-off tape, which is precisely why their yields are elevated — a valuation opportunity if the rate backdrop stabilizes, a value trap if it does not. Defensive staples and health care offer lower yields but steadier coverage, and they have been the market's leadership of late.
Run a version of this yourself
Describe the idea in plain English and Relaxfolio returns a researchable shortlist with the charts, fundamentals, and risks attached.
Educational research tool — not investment advice. A screen is a starting point, not a recommendation.