The S&P 500’s 20 highest yielding stocks are income machines

Dividends have constituted around 31% of the S&P 500's gains historically. The benchmark index wouldn't perform nearly as well if these dividend-paying companies weren't a part of it, since the stable cash flows of these businesses are essential for holding the index together in times of crisis.

The S&P 500 contains some solid income stocks, with some yielding dividends in the high single digits. They have underlying businesses in sectors like consumer staples, utilities, and real estate investment trusts, where high dividend yields are sustainable. We'll be looking at 20 of them, ranked by yield.

• Price: $107.58
• Dividend yield: 5.02%
• Dividend payout ratio: 36.51%
• Consecutive years of dividend hikes: 2

• Price: $11.84
• Dividend yield: 5.14%
• Dividend payout ratio: 45.05%
• Consecutive years of dividend hikes: N/A

• Price: $24.55
• Dividend yield: 5.21%
• Dividend payout ratio: 46.74%
• Consecutive years of dividend hikes: 13

• Price: $33.02
• Dividend yield: 5.24%
• Dividend payout ratio: 60.8%
• Consecutive years of dividend hikes: 4

• Price: $72.41
• Dividend yield: 5.26%
• Dividend payout ratio: 57.07%
• Consecutive years of dividend hikes: 22

• Price: $47.2
• Dividend yield: 5.27%
• Dividend payout ratio: 41.03%
• Consecutive years of dividend hikes: 17

• Price: $57.54
• Dividend yield: 5.61%
• Dividend payout ratio: 212.57%
• Consecutive years of dividend hikes: 30

• Price: $68.3
• Dividend yield: 5.74%
• Dividend payout ratio: 212.84%
• Consecutive years of dividend hikes: N/A

• Price: $26.5
• Dividend yield: 6.05%
• Dividend payout ratio: 60.02%
• Consecutive years of dividend hikes: N/A

• Price: $43.18
• Dividend yield: 6.29%
• Dividend payout ratio: 56.02%
• Consecutive years of dividend hikes: 20

• Price: $12.82
• Dividend yield: 6.36%
• Dividend payout ratio: 31.64%
• Consecutive years of dividend hikes: 12

• Price: $102.89
• Dividend yield: 6.41%
• Dividend payout ratio: 83.67%
• Consecutive years of dividend hikes: 16

• Price: $50.98
• Dividend yield: 6.52%
• Dividend payout ratio: 53.99%
• Consecutive years of dividend hikes: 23

• Price: $18.21
• Dividend yield: 6.7%
• Dividend payout ratio: 370.26%
• Consecutive years of dividend hikes: N/A

• Price: $25.69
• Dividend yield: 6.71%
• Dividend payout ratio: 55.68%
• Consecutive years of dividend hikes: 16

• Price: $20.65
• Dividend yield: 6.78%
• Dividend payout ratio: 61.13%
• Consecutive years of dividend hikes: 5

• Price: $77.02
• Dividend yield: 6.85%
• Dividend payout ratio: 240.17%
• Consecutive years of dividend hikes: 15

• Price: $59.65
• Dividend yield: 6.85%
• Dividend payout ratio: 73.57%
• Consecutive years of dividend hikes: 56

• Price: $63.91
• Dividend yield: 8.6%
• Dividend payout ratio: 100.31%
• Consecutive years of dividend hikes: 14

• Price: $29.48
• Dividend yield: 9.64%
• Dividend payout ratio: 270.78%
• Consecutive years of dividend hikes: N/A

The S&P 500 has dozens of dividend stocks. However, the higher you go, the greater the risk you'd have to take. It is unlikely that companies with dividend payout ratios exceeding 100% will be able to sustain them in the long run. Those with high dividend yields, low payout ratios, and a better track record of dividend increases should be your go-to.