Large-cap dividend stocks
Query: US large-cap dividend stocks with yield above 2.5% payout under 70% and positive free cash flow · data as of 2026-10-12
Screened US large-caps (>$10B) for dividend yield >2.5%, payout ratio <70% of net income, and positive trailing FCF — 30 names qualified, presented as one table ranked by yield (VICI 5.9%, Comcast 4.8%, Fresenius 4.1% top the list), with yields, payout, FCF, FCF margin, P/E, 1M/3M/6M/1Y returns and distance from the 150D SMA, plus per-row commentary and a screen overview narrative.
Large-cap dividend payers (market cap > $10B) screened for yield above 2.5%, payout ratio under 70% of net income, and positive trailing free cash flow. Ranked by dividend yield, then market cap.
High-Yield Large-Caps with Sustainable Payouts
| Symbol | Company | Sector | Industry | Market Cap | Dividend Yield | Payout Ratio | Free Cash Flow (TTM) | FCF Margin | P/E (TTM) | 1M Return | 3M Return | 6M Return | 1Y Return | % from 150D SMA | Comments |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| VICI | VICI Properties Inc. | Real Estate | REIT - Diversified | 2.536e+10 | 5.86% | 52.74% | 2.507e+09 | 62.59% | 8.93 | -5.48% | -10.69% | -15.76% | -20.45% | -11.64% | Gaming REIT with CPI-linked rent escalators baked into long-dated triple-net leases, giving inflation-protected cash flow that funds the distribution; concentration in Las Vegas and regional casino operators is the key credit risk. |
| CMCSA | Comcast Corporation | Communication Services | Telecom Services | 7.339e+10 | 4.79% | 17.57% | 2.189e+10 | 17.70% | 6.63 | -16.66% | -9.44% | -24.11% | -22.71% | -16.57% | Broadband and wireless now carry the dividend while theme parks and studios drive cyclical profit; buyback supports per-share growth but cable subscriber attrition is the structural overhang to watch. |
| FMS | Fresenius Medical Care AG | Health Care | Medical Care Facilities | 1.267e+10 | 4.11% | 38.84% | 1.25e+09 | 5.65% | 11.05 | -5.10% | -12.14% | -6.98% | -18.76% | -6.00% | Dialysis leader recovering from a leadership transition and cost pressures; distribution is modest relative to earnings, so the payout is well covered even as utilization and reimbursement stay the swing factors. |
| FNF | Fidelity National Financial, In | Financials | Insurance - Specialty | 1.047e+10 | 4.00% | 61.62% | 5.618e+09 | 38.89% | 13.61 | -10.44% | -20.80% | -15.16% | -23.72% | -16.16% | Title insurer whose cash generation is unusually strong through the housing cycle, but earnings are inherently rate-and-volume sensitive to mortgage activity; payout sits near the upper end of the screen. |
| JD | JD.com, Inc. | Consumer Discretionary | Internet Retail | 3.609e+10 | 3.74% | 40.82% | 2.149e+09 | 1.15% | 17.81 | -1.26% | -7.35% | -7.67% | -18.54% | -7.40% | China e-commerce and logistics platform funding the dividend from a large net-cash balance sheet; government stimulus for Chinese consumption is the key catalyst, while macro and regulatory risk keep the valuation compressed. |
| TROW | T. Rowe Price Group, Inc. | Financials | Asset Management | 2.218e+10 | 3.72% | 39.56% | 1.479e+09 | 20.22% | 10.44 | -0.95% | -9.29% | 12.90% | 3.25% | 0.55% | Active asset manager with a fortress balance sheet and one of the most consistent payout records in the group, though fee pressure and passive outflows remain the structural headwind. |
| T | AT&T Inc. | Communication Services | Telecom Services | 1.541e+11 | 3.71% | 24.44% | 1.964e+10 | 15.63% | 7.42 | -12.72% | 6.88% | -10.00% | -8.75% | -7.58% | Cash-flow machine with a lean payout relative to free cash flow, leaving room for continued deleveraging and buybacks; fiber and 5G buildout capex is the main call on cash. |
| WTRG | Essential Utilities, Inc. | Utilities | Utilities - Regulated Water | 1.11e+10 | 3.55% | 63.96% | 5.147e+08 | 20.80% | 20.08 | -4.67% | 2.54% | -1.11% | 1.31% | 0.55% | Regulated water utility with the most predictable demand profile in the screen; rate-base growth from infrastructure replacement underpins earnings, but the payout runs near the top of the range for a utility. |
| NKE | Nike, Inc. | Consumer Discretionary | Footwear & Accessories | 5.251e+10 | 3.48% | 58.77% | 2.184e+09 | 4.71% | 16.83 | -3.94% | -16.65% | -16.00% | -46.35% | -16.49% | Brand strength and a strong balance sheet support the dividend, but the payout has crept up as margins compress; turnaround in China demand and a return to wholesale growth are the needed catalysts. |
| BBY | Best Buy Co., Inc. | Consumer Discretionary | Specialty Retail | 1.824e+10 | 3.30% | 56.30% | 1.258e+09 | 3.02% | 16.11 | -3.19% | 4.67% | 46.38% | 21.79% | 16.77% | Retailer with resilient services revenue and a solid cash position backing its dividend; consumer electronics demand and tariff-driven cost inflation are the swing variables. |
| BMY | Bristol-Myers Squibb Company | Health Care | Drug Manufacturers - General | 1.176e+11 | 3.28% | 54.72% | 1.284e+10 | 26.65% | 12.68 | -8.59% | 2.15% | 1.33% | 34.61% | -2.71% | Pharma with a rich pipeline and heavy cash generation that easily covers the dividend; patent-cliff exposure and pipeline execution are the perennial risks, partially offset by aggressive buybacks. |
| TM | Toyota Motor Corporation | Consumer Discretionary | Auto Manufacturers | 2.187e+11 | 3.28% | 23.64% | 1.383e+10 | 4.54% | 8.37 | -6.80% | 4.82% | -12.48% | -3.96% | -3.10% | Global auto giant with a strong net-cash position and a policy of steady distribution increases; yen translation and the pace of hybrid/EV transition are the key earnings drivers. |
| STZ | Constellation Brands, Inc. | Consumer Staples | Beverages - Brewers | 2.139e+10 | 3.24% | 41.14% | 1.794e+09 | 19.63% | 12.03 | 3.23% | -3.00% | -22.09% | -9.01% | -8.32% | Premium beer and spirits franchise with pricing power, though wine/spirits weakness and cautious consumer spending have pressured results; dividend remains well covered and the brand portfolio is scarce. |
| D | Dominion Energy, Inc. | Utilities | Utilities - Regulated Electric | 5.493e+10 | 3.21% | 57.51% | 3.81e+08 | 2.31% | 21.61 | -2.97% | -11.53% | 1.18% | 8.06% | -3.36% | Regulated electric utility whose rate-base investment program and data-center power demand underpin long-term growth; payout is high for the sector, so financing needs and rate-case outcomes matter. |
| LVS | Las Vegas Sands Corp. | Consumer Discretionary | Resorts & Casinos | 2.341e+10 | 3.18% | 39.91% | 1.855e+09 | 14.25% | 14.01 | -15.60% | -18.76% | -33.27% | -28.78% | -24.41% | Macau-led casino operator with no US exposure, so cash flow is leveraged to Chinese visitation and the premium-mass recovery; dividend coverage depends on the pace of Macau normalization. |
| KEY | KeyCorp | Financials | Banks - Regional | 2.144e+10 | 3.06% | 35.88% | 2.056e+09 | 27.37% | 11.75 | -8.01% | -12.95% | -5.69% | 15.05% | -6.08% | Regional bank trading near book with a rising dividend; net interest margin and commercial credit quality are the swing factors, and regulatory capital rules shape how much can be returned. |
| AEP | American Electric Power Company | Utilities | Utilities - Regulated Electric | 6.763e+10 | 3.06% | 55.97% | 6.944e+09 | 31.74% | 21.53 | 0.73% | -7.71% | -7.49% | 8.37% | -2.87% | Large regulated utility with a multi-year capital plan and data-center-driven load growth underpinning rate base; high payout for the group means equity issuance is part of the funding model. |
| HBAN | Huntington Bancshares Incorpora | Financials | Banks - Regional | 3.111e+10 | 3.02% | 42.14% | 2.215e+09 | 141.81% | 11.85 | -7.76% | -12.87% | -5.58% | -2.13% | -5.84% | Midwest regional bank with a well-covered dividend and improving efficiency; deposit costs and credit normalization are the key variables, with the payout ratio mid-range for banks. |
| TGT | Target Corporation | Consumer Staples | Discount Stores | 6.979e+10 | 2.98% | 56.15% | 2.835e+09 | 2.71% | 20.32 | -1.42% | 15.52% | 32.56% | 79.39% | 12.68% | Retailer with a durable brand and store-reinvestment story supporting steady dividend growth; discretionary spending sensitivity and margin pressure from promotions are the main watch items. |
| IBM | International Business Machines | Information Technology | Information Technology Services | 2.139e+11 | 2.97% | 59.95% | 1.21e+10 | 17.92% | 20.16 | -6.69% | 5.33% | -3.15% | -19.19% | -6.14% | Legacy tech franchise transitioning toward software and hybrid cloud, with free cash flow that comfortably covers the dividend; the distribution has an unbroken decades-long growth record, though mainframe and consulting cycles create lumpiness. |
| HTHT | H World Group Limited | Consumer Discretionary | Lodging | 1.405e+10 | 2.92% | 56.09% | 1.038e+09 | 28.68% | 31.82 | 4.43% | 10.20% | -11.70% | 24.54% | -0.73% | China hotel operator with an asset-light franchise model and recovery leverage to domestic travel; dividend is modest and the key risk is Chinese consumer confidence. |
| CFG | Citizens Financial Group, Inc. | Financials | Banks - Regional | 2.691e+10 | 2.88% | 42.32% | 2.085e+09 | 25.28% | 13.92 | -9.34% | -8.54% | 0.03% | 26.95% | -3.00% | Regional bank whose dividend is comfortably covered; net interest income inflection and capital return capacity depend on the rate path and deposit competition. |
| PG | Procter & Gamble Company (The) | Consumer Staples | Household & Personal Products | 3.558e+11 | 2.80% | 61.76% | 1.515e+10 | 17.40% | 23.18 | 5.46% | 5.66% | 8.31% | 4.73% | 5.38% | Defensive staples compounder with unmatched pricing power and a conservative payout; a strong dividend-growth record makes it a core income holding, though premium valuation limits upside. |
| PEG | Public Service Enterprise Group | Utilities | Utilities - Regulated Electric | 3.527e+10 | 2.78% | 46.51% | 2.6e+07 | 0.21% | 17.6 | -2.25% | -11.30% | -11.36% | -10.09% | -7.67% | Utility with regulated electric and gas operations plus a large unregulated nuclear fleet; power-demand growth from data centers is a potential tailwind, while the payout is moderately elevated. |
| PPG | PPG Industries, Inc. | Materials | Specialty Chemicals | 2.305e+10 | 2.77% | 40.07% | 1.163e+09 | 7.33% | 14.88 | -1.70% | -8.99% | -4.71% | 6.85% | -5.83% | Coatings maker with pricing power and a diversified end-market mix; cyclical industrial and auto demand plus raw-material costs drive earnings, and management prioritizes the dividend and bolt-on M&A. |
| ZTS | Zoetis Inc. | Health Care | Drug Manufacturers - Specialty & Generic | 3.126e+10 | 2.76% | 32.31% | 2.283e+09 | 24.12% | 12.34 | 3.67% | 2.85% | -36.29% | -46.23% | -12.68% | Animal-health leader with a high-margin recurring consumables business supporting the dividend; the shares have de-rated sharply, making valuation the notable story for income investors here. |
| DKS | Dick's Sporting Goods Inc | Consumer Discretionary | Specialty Retail | 1.353e+10 | 2.70% | 43.08% | 4.002e+08 | 2.32% | 13.38 | 1.73% | -34.39% | -33.77% | -36.93% | -28.46% | Sporting-goods retailer with a strong balance sheet and growing dividend, but discretionary demand and a competitive athletic retail landscape are the swing risks. |
| LOW | Lowe's Companies, Inc. | Consumer Discretionary | Home Improvement Retail | 1.041e+11 | 2.61% | 40.90% | 7.651e+09 | 8.87% | 15.67 | -5.72% | -10.09% | -24.07% | -19.30% | -14.23% | Home-improvement leader whose dividend is well covered by stable cash flow; housing turnover and big-ticket remodeling demand are the macro levers, and the valuation has compressed markedly. |
| EXE | Expand Energy Corporation | Energy | Oil & Gas E&P | 2.056e+10 | 2.59% | 29.27% | 1.839e+09 | 15.17% | 7.66 | -6.35% | 1.75% | -8.08% | -14.31% | -5.81% | Natural-gas producer with a variable dividend tied to free cash flow, so distributions fluctuate with gas prices; payout discipline and the gas-price cycle are the key considerations. |
| PCAR | PACCAR Inc. | Industrials | Farm & Heavy Construction Machinery | 5.692e+10 | 2.55% | 61.14% | 3.673e+09 | 12.91% | 22.76 | -11.90% | -12.53% | -14.62% | 16.36% | -9.85% | Truck maker with a fortress balance sheet, net cash, and a long history of special dividends; cyclical class-8 demand and the pace of the freight cycle drive earnings. |
Overview
What this screen captures
High-yield large-caps where the distribution is earned, not borrowed: dividend yield > 2.5%, a payout ratio below 70% of net income, positive trailing free cash flow, and market cap > $10B. Thirty names clear all four hurdles.
Where the opportunity sits
- Real Estate / REITs (VICI) and Communication Services (Comcast, AT&T) dominate the top of the yield ranking — long-duration, contracted cash flows where the market has been pricing in rate and disruption risk.
- Utilities (AEP, Dominion, PSEG, Essential Utilities) cluster mid-table: low-volatility, rate-base-driven income, but payouts that run near the top of the band, making financing plans part of the thesis.
- Consumer Staples and big pharma (PG, BMY, Target, Constellation) provide defensive ballast with well-covered, growing dividends.
Risks to weigh
The screen rewards coverage, not quality — a sub-70% payout still erodes if earnings fall. Several names sit at the higher end of the payout range (FNF, WTRG, PG, IBM, PCAR), so any earnings disappointment compresses cover quickly. Cyclical and rate-sensitive groups (banks, home improvement, semis-adjacent industrials) may see distribution growth slow if the macro softens. With the 10-year yield near 4.6%, income investors are being paid real money for duration risk — but also carry the mark-to-market that comes with it.
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