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High dividend stocks are stocks with a dividend yield well in excess of the market average dividend yield of ~1.3%. We define a high dividend stock as having a current yield above 5%, which is more than four times the S&P 500 average.

High-yield stocks can be very helpful to shore up income after retirement. However, not all high dividend stocks are equally safe. There are many examples of high dividend stocks reducing or eliminating their dividends.

In this article, we will analyze 3 high dividend stocks with the secure dividends.

Altria Group (MO)

Altria is a tobacco stock that sells cigarettes, chewing tobacco, cigars, e-cigarettes, and more under a variety of brands, including Marlboro, Skoal, and Copenhagen, among others.

This is a period of transition for Altria. The decline in the U.S. smoking rate continues. In response, Altria has invested heavily in new products that appeal to changing consumer preferences, as the smoke-free category continues to grow.

The company also has a 35% investment stake in e-cigarette maker JUUL, and a 45% stake in the Canadian cannabis producer Cronos Group (CRON).

On April 29, 2025, Altria Group reported its financial results for the first quarter of 2025. The company posted net revenues of $5.26 billion, a 5.7% decline from the same period in 2024, attributed primarily to lower cigarette shipment volumes, which fell by 13.7%.

Despite this, adjusted diluted earnings per share (EPS) rose by 6% year-over-year to $1.23, surpassing analyst expectations of $1.19.

Altria continued its shareholder return initiatives, repurchasing 5.7 million shares for $326 million and paying $1.7 billion in dividends during the quarter. The company reaffirmed its full-year 2025 adjusted diluted EPS guidance of $5.30 to $5.45, representing a 2% to 5% increase over 2024.

Altria ranks very highly in terms of safety because the company has tremendous competitive advantages. It operates in a highly regulated industry, which virtually eliminates the threat of new competition in the tobacco industry. Altria enjoys strong brands across its product portfolio, including the No. 1 cigarette brand. As a result, it has pricing power and brand loyalty.

Altria targets a dividend payout ratio of 80% of its annual adjusted EPS. This allows the company to reinvest sufficiently in its core business objectives, as well as reward shareholders with a rising dividend. The company has increased its dividend for 55 consecutive years and the stock currently yields 6.9%.

Flowers Foods (FLO)

Flowers Foods opened its first bakery in 1919 and has since become one of the largest producers of packaged bakery foods in the United States, operating 46 bakeries in 18 states. Well-known brands include Wonder Bread, Home Pride, Nature’s Own, Dave’s Killer Bread, Tastykake and Canyon Bakehouse.

The company operates in two segments: Direct Store-Delivery (DSD) and Warehouse Delivery, with ~85% of the company’s product being delivered directly to stores. Fresh breads, buns, rolls, and tortillas make up about a three-fourths of the business, with sales channels split between Supermarkets, Mass Merchandisers, Foodservice, and Convenience Store.

On May 16th, 2025, Flowers Foods reported first quarter results for the period ending April 19th, 2025. For the quarter, revenue decreased 1.4% to $1.55 billion and was $50 million less than expected. Adjusted earnings-per-share of $0.35 compared to $0.38 last year and was $0.02 below estimates.

For the quarter, Branded Retail sales decreased 0.4% to $1.011 million as pricing was lower by 0.9% and volume was down 1.9%. Simple Mills added 2.4%. Other sales fell 3.3% to $543 million as a 0.4% benefit from pricing and mix was offset by a 3.7% decline in volume.

FLO has increased its dividend for 22 consecutive years and has paid 91 consecutive quarterly dividends. FLO stock currently yields 6.3%.

T. Rowe Price Group (TROW)

T. Rowe Price Group, founded in 1937 and headquartered in Baltimore, MD, is one of the largest publicly traded asset managers. The company provides a broad array of mutual funds, sub-advisory services, and separate account management for individual and institutional investors, retirement plans and financial intermediaries.

T. Rowe Price had assets under management (AUM) of nearly $1.6 trillion as of Mach 31st, 2025.

On May 2nd, 2025, T. Rowe Price reported first quarter results for the period March 31st, 2025. For the quarter, revenue grew 0.6% to $1.76 billion, though this was $20 million less than expected. Adjusted earnings-per-share of $2.23 compared unfavorably to $2.38 in the prior year, but this beat estimates by $0.10.

During the quarter, AUMs of $1.57 billion grew 1.9% year-over-year, but decreased 4.2% sequentially. Market depreciation of $37.1 billion and net cash outflows of $19.2 billion were partially offset by increases in money market and multi-asset inflows. Operating expenses of $1.17 billion increased 0.3% year-over-year, but declined 7.0% quarter over-quarter.

T. Rowe Price’s earnings, as well as its dividends, have grown substantially over the last decade. While earnings did drop during the last financial crisis, the overall record has been solid. Since 2015, the company has grown earnings-per-share by an average compound rate of 8.1% per year.

On the contribution side, T. Rowe Price’s strong past performance is a key selling point and could attract customers going forward. In addition, T. Rowe has another earnings-per-share growth lever in the way of share repurchases.

TROW has increased its dividend for 39 consecutive years and shares are currently yielding 5.4%.

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