In August 2024, the U.S. stock market has shown mixed performance, with the S&P 500 and Nasdaq Composite experiencing declines while the Dow Jones Industrial Average reached a record high. Amidst these fluctuations, dividend stocks continue to attract investors seeking steady income and potential growth. When considering dividend stocks in this environment, it's crucial to focus on companies with strong fundamentals and a history of reliable payouts.

Top 10 Dividend Stocks In The United States

Click here to see the full list of 173 stocks from our Top US Dividend Stocks screener.

Underneath we present a selection of stocks filtered out by our screen.

ChoiceOne Financial Services

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: ChoiceOne Financial Services, Inc., with a market cap of $262.72 million, operates as the bank holding company for ChoiceOne Bank, offering banking services to corporations, partnerships, and individuals in Michigan.

Operations: ChoiceOne Financial Services, Inc. generates $83.14 million in revenue from its banking services segment.

Dividend Yield: 3.6%

ChoiceOne Financial Services is trading at 40.8% below its estimated fair value, offering a reliable dividend yield of 3.6%, which has grown steadily over the past decade with little volatility. Despite a recent follow-on equity offering of $30 million, the company maintains a low payout ratio of 35.7%, ensuring dividends are well-covered by earnings. Recent affirmations include a $0.27 per share dividend payable on September 30, 2024, marking consistent growth from previous quarters.

• Unlock comprehensive insights into our analysis of ChoiceOne Financial Services stock in this dividend report.

• The valuation report we've compiled suggests that ChoiceOne Financial Services' current price could be quite moderate.

Citizens Financial Services

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Citizens Financial Services, Inc., a bank holding company with a market cap of $263.51 million, offers a range of banking products and services to individual, business, governmental, and institutional customers.

Operations: The company's revenue primarily comes from its Community Banking segment, which generated $98.19 million.

Dividend Yield: 3.5%

Citizens Financial Services offers a reliable dividend yield of 3.53%, supported by a low payout ratio of 33.7%. Recent earnings growth, including net income of US$12.3 million for the first half of 2024, underscores financial stability. The company has consistently increased dividends over the past decade with minimal volatility and is trading at 57% below its estimated fair value. Additionally, it was recently added to the Russell 2000 Dynamic Index, enhancing its market visibility.

• Click to explore a detailed breakdown of our findings in Citizens Financial Services' dividend report.

• The analysis detailed in our Citizens Financial Services valuation report hints at an deflated share price compared to its estimated value.

Union Bankshares

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Union Bankshares, Inc. operates as the bank holding company for Union Bank, offering retail, commercial, and municipal banking services in northern Vermont and New Hampshire with a market cap of $113.55 million.

Operations: Union Bankshares, Inc. generates $47.53 million in revenue from its Community Bank segment.

Dividend Yield: 5.4%

Union Bankshares declared a quarterly cash dividend of US$0.36 per share, maintaining a stable and growing dividend over the past decade with minimal volatility. Despite recent earnings showing a decline—net income for Q2 2024 at US$2.02 million compared to US$2.7 million last year—the payout ratio remains reasonable at 64.9%, ensuring dividends are covered by earnings. Additionally, the stock trades at 51.2% below its estimated fair value, offering an attractive yield of 5.43%.

• Navigate through the intricacies of Union Bankshares with our comprehensive dividend report here.

• Upon reviewing our latest valuation report, Union Bankshares' share price might be too pessimistic.

Seize The Opportunity

• Delve into our full catalog of 173 Top US Dividend Stocks here.

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Contemplating Other Strategies?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.

• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.

• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include NasdaqCM:COFS NasdaqCM:CZFS and NasdaqGM:UNB.

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