In the wake of a post-election rally, the U.S. stock market has seen major indices like the S&P 500 and Dow Jones Industrial Average reach new record highs, fueled by optimism surrounding recent political developments and Federal Reserve interest rate cuts. Amid this buoyant market environment, dividend stocks remain an attractive option for investors seeking steady income streams and potential capital appreciation, making them worthy of attention as we move into November 2024.

Top 10 Dividend Stocks In The United States

Click here to see the full list of 147 stocks from our Top US Dividend Stocks screener.

Below we spotlight a couple of our favorites from our exclusive screener.

Independent Bank

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

Overview: Independent Bank Corp. is the bank holding company for Rockland Trust Company, offering commercial banking products and services to individuals and small-to-medium sized businesses in the United States, with a market cap of $3.10 billion.

Operations: Independent Bank Corp.'s revenue from its Community Banking segment amounts to $655.49 million.

Dividend Yield: 3.2%

Independent Bank Corp. offers a stable dividend yield of 3.23%, supported by a low payout ratio of 49.1%, ensuring sustainability and coverage by earnings, with forecasts indicating further coverage improvement to 38.9% in three years. Despite recent declines in net income and interest income, the bank's dividend reliability remains strong over the past decade with consistent growth and stability. The company is also exploring strategic M&A opportunities to drive future value creation.

• Click here and access our complete dividend analysis report to understand the dynamics of Independent Bank.
• Upon reviewing our latest valuation report, Independent Bank's share price might be too pessimistic.

Mercantile Bank

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

Overview: Mercantile Bank Corporation, with a market cap of $825.82 million, operates as the bank holding company for Mercantile Bank of Michigan, offering commercial and retail banking services to small- to medium-sized businesses and individuals in the United States.

Operations: Mercantile Bank Corporation generates its revenue primarily through its banking segment, which accounted for $222.19 million.

Dividend Yield: 3%

Mercantile Bank offers a stable dividend yield of 3%, supported by a low payout ratio of 28.2%, ensuring sustainability and coverage by earnings, with forecasts maintaining coverage at 32.8% in three years. Despite recent declines in net interest income and net income, the bank's dividends have been reliable and growing over the past decade. Recent news includes a nearly 6% increase in their quarterly cash dividend to $0.36 per share, reflecting ongoing commitment to shareholder returns.

• Take a closer look at Mercantile Bank's potential here in our dividend report.
• Our valuation report unveils the possibility Mercantile Bank's shares may be trading at a discount.

MSC Industrial Direct

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

Overview: MSC Industrial Direct Co., Inc. distributes metalworking and MRO products and services across North America, the United Kingdom, and internationally, with a market cap of approximately $4.96 billion.

Operations: MSC Industrial Direct Co., Inc.'s revenue primarily comes from its distribution of metalworking, MRO, Class C consumables, and OEM products and services, totaling approximately $3.82 billion.

Dividend Yield: 3.8%

MSC Industrial Direct's dividends are sustainable, with a payout ratio of 72.7% and cash payout ratio of 61.1%, ensuring coverage by earnings and cash flows. The company has consistently increased its dividend over the past decade, recently raising it to $0.85 per share. Despite a decline in annual net income to $258.59 million, MSC maintains reliable dividends and completed significant share buybacks valued at $291.22 million since October 2021, enhancing shareholder value.

• Navigate through the intricacies of MSC Industrial Direct with our comprehensive dividend report here.
• Insights from our recent valuation report point to the potential undervaluation of MSC Industrial Direct shares in the market.

Where To Now?

• Click through to start exploring the rest of the 144 Top US Dividend Stocks now.
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Interested In Other Possibilities?

• 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 NasdaqGS:INDB NasdaqGS:MBWM and NYSE:MSM.

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