5 Large-Cap Giants Paying 5% and Bigger Dividends to Be Bought and Held Forever
Four of these five large-cap dividend stocks just dropped sharply, pushing their yields above 6%, but a rising yield can signal opportunity or a warning sign depending on what sits beneath the payout.
Income investors have one month of evidence that high yields can rise for unwelcome reasons. Four of these five large-cap dividend payers lost ground over the past month, and some of the drops were steep. A falling share price raises the yield on a fixed payout. The question for a long holding period is whether each payout can last a full cycle and keep growing. This Just Paid Investors scorecard looks at Altria (NYSE:MO | MO Price Prediction), AT&T (NYSE:T), Enbridge (NYSE:ENB), Pfizer (NYSE:PFE) and Verizon (NYSE:VZ). For each one, it covers yield, growth run, payout coverage, and the most recent check sent to shareholders.
Why These Five Payouts Matter Now
Verizon shares fell 8.92% over the past month, and Enbridge slid 7.25%. AT&T dropped 5.22%, and Pfizer declined 3.41%. Altria was the only one of the five to gain, up 0.69%. Because of the decline, four of the five now yield roughly 6% or more. In this scorecard, the payout ratio is the annualized dividend divided by the midpoint of each company’s 2026 earnings guidance. For Enbridge, the ratio uses distributable cash flow (DCF) per share.
Dividend Scorecard at a Glance
| Company | Annual Dividend | Yield | Payout Ratio | Grade |
|---|---|---|---|---|
| Altria | $4.44 | 6.5% | 78.7% | A- |
| Verizon | $2.83 | 6.2% | 56.4% | A |
| Enbridge | $2.784 | 6.0% | 65.8% of DCF | B+ |
| Pfizer | $1.72 | 6.3% | 59.3% | B- |
| AT&T | $1.11 | 4.6% | 48.3% | C+ |
Altria: A Fresh 4.7% Raise Lands This Week
Altria’s most recent payment was $1.06 per share on July 10, 2026. The next check is larger. The quarterly rate goes up to $1.11, payable on October 9, 2026. The 4.7% increase beats the 3.9% raise in 2025, the company’s 60th increase in 56 years. At a share price of $68.27, the forward yield is 6.5%, even after a 24.15% gain so far this year.
Underlying results support the payout. First-quarter adjusted EPS came in at $1.32, beating the $1.25 estimate. Smokeable margins expanded to 65.1%. Guidance calls for 2026 adjusted EPS of $5.56 to $5.72. Volume is the weak spot. Marlboro’s retail share fell to 39.7%, and stockholders’ equity is negative $3.2 billion. Altria keeps the A− grade because of its long record of raises and its pricing power.
Verizon: 6.2% Yield Backed by Raised Guidance
Verizon’s dividend was $0.7075 per share on August 3, 2026. The rate is 2.5% above the prior $0.69 and continues a growth run of 18+ consecutive years. Second-quarter adjusted EPS of $1.30 beat the $1.27 estimate, and adjusted EBITDA margin expanded to 40.1% from 37.1%. Management raised full-year adjusted EPS guidance to $4.99 to $5.04 and projects free cash flow growth of 9% to 10%.
At a payout ratio near 56.4%, Verizon has the best mix of yield and coverage in the group. The Frontier deal closed on January 20, 2026, and fiber connections rose 41.9%. Debt is the balance, with $136.5 billion in unsecured borrowings.
Enbridge: Three Decades of Raises in Canadian Dollars
Enbridge’s dividend was C$0.97 per share on September 1, 2026. U.S. holders received $0.696, down from $0.707 the quarter before. The Canadian-dollar rate held steady, so the dip came from exchange-rate swings, which U.S. investors should expect with this stock. The pipeline operator has about 30 consecutive years of dividend increases. It guides 2026 DCF per share to C$5.70 to C$6.10, which sets the payout at about 65.8% of DCF.
A secured backlog of about C$41 billion supports roughly 5% near-term growth. Leverage of 5.1x debt-to-EBITDA has reached the top of the company’s target range, so Enbridge gets a B+ rather than an A.
Pfizer: 6.3% Yield With a Flat Payout in 2026
Pfizer’s dividend was $0.43 per share on September 1, 2026. The rate has been unchanged since early 2025 and was last raised from $0.42. The yield is 6.3%, and the shares remain 14.71% below their level of five years ago. First-quarter revenue rose 5.4% to $14.45 billion, and the non-COVID portfolio grew 22% operationally.
Pfizer has no share repurchases planned in 2026, so the dividend is its main way of returning cash to shareholders. Against adjusted EPS guidance of $2.80 to $3.00, the payout ratio is about 59.3%, a manageable level. Patent losses carry an estimated $1.5 billion revenue impact, and drug-pricing policy remains uncertain. Those risks hold the grade at B−.
AT&T: Below the 5% Line but Buybacks Lead
AT&T is the one name in this group that falls short of the headline yield. Its yield is 4.6% on its $0.2775 quarterly payment, last paid on August 3, 2026. The next payment is due November 2, 2026. The rate has stayed the same since the 2022 reset that followed the WarnerMedia spinoff.
The business itself is strong. Second-quarter adjusted EPS of $0.65 beat the $0.59 estimate, the company added 432,000 postpaid phone subscribers, and it expects more than $18 billion in free cash flow. Management is sending extra cash to buybacks of about $10 billion in 2026. Leverage of 2.68x is above the company’s target. AT&T has the lowest payout ratio of the five at 48.3%, but with no dividend growth since 2022, its grade is C+.
What to Watch Into Year-End
December is typically when Pfizer and Verizon announce dividend changes, so Pfizer’s next declaration will indicate whether its dividend growth streak continues. At Altria, investors can track whether nicotine pouch share rebounds from 13.4% and how much of the $720 million left in its buyback program is used before the program expires on December 31, 2026. Enbridge’s debt ratio and the Canadian dollar will set the size of its U.S.-dollar checks. AT&T’s progress toward over 40 million fiber locations will show whether it is ready to raise its payout again.
Of the five, Verizon and Altria have the strongest combination of yield, coverage, and dividend growth right now. The whole point of holding names like these is to collect the checks without ever selling a share, which is exactly the structure we laid out in a free dividend ladder guide.
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Lee Jackson has covered Wall Street analysts' equity and debt research and equity strategy daily for 24/7 Wall St. since 2012. His broad, diverse career, including a stint as creative services director at an NBC affiliate in Austin, Texas, gives him unique insight into the financial industry.
Lee Jackson's journey in the financial industry spans more than 30 years, including nearly two decades as an institutional equity salesperson at Bear Stearns, Lehman Brothers, and Morgan Stanley. His career spanned pivotal sell-side Wall Street events, from the dot-com rise and bubble to the Long-Term Capital Management debacle, 9/11, and the Great Recession of 2008. This reflects his resilience and adaptability amid market volatility.
Lee Jackson’s practical financial industry experience, gained through a career at some of the biggest banks and brokerage firms, is complemented by a lifetime of writing across various platforms. This unique combination allows him to shed light on the intricacies of Wall Street in a way only someone with deep insider experience and knowledge can. Moreover, his extensive network across Wall Street continues to provide direct access for him and 24/7 Wall St., a privilege few firms enjoy.
Since 2012, Jackson’s work for 24/7 Wall St. has been featured in Barron’s, Yahoo Finance, MarketWatch, Business Insider, TradingView, Real Money, The Street, Seeking Alpha, Benzinga, and other media outlets. He attended the prestigious Cranbrook Schools in Bloomfield Hills, Michigan, and has a degree in broadcasting from the Specs Howard School of Media Arts.
