10 Top Dividend Stocks of the S&P 500

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 |  Includes: ACAS, BAC, CMA, CTL, DDR, FNMA, FTR, GCI, GM, HBAN, KEY, MBI, MI, PFE, RAI, RF, WFC, WIN, XL
by: Vlada Kynsky

I run my fundamental stock screener, searching for stocks with the highest dividend yield. The report lists only companies included in the S&P 500 index. Not surprisingly, aside from one GM (NYSE:GM), there are only financials and banks in the top ten. Financials had the highest yield, compared to other sectors, even before credit turmoils. And after their deep fall, we can see practically incredible yield - over 30% - for MBIA (NYSE:MBI).
Below is a table to show the top 10 high dividend stocks, purged from financials.

Top yielding stocks in S&P 500
 

Symbol Company Name Industry Yield
MBI MBIA Ord Shs Titleinsur 33.58
(NASDAQ:ACAS) American Capital Strat. ClFundDebt 18.36
(NYSE:RF) Regions Financial Corp StheastBnk 14.74
(NYSE:KEY) Keycorp Ord Shs MonCentBnk 13.51
(NYSE:BAC) Bank of America Ord Shs MonCentBnk 11.43
(NYSE:CMA) Comerica Inc MidwestBnk 10.7
(NASDAQ:WB) Wachovia Corp Ord Shs MonCentBnk 10.08
GM GENERAL MOTORS AutoManu 9.88
(NASDAQ:HBAN) Huntington Ord Shs MidwestBnk 9.65
(NYSE:MI) Marshal & Ilsley Ord Shs MidwestBnk 9.05
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High dividend S&P 500 stocks (banks and financials excluded)

Symbol Company Name Industry Yield
GM GENERAL MOTORS AutoManu 9.88
(CZN) Citizens Comms Ord Shs TelecomDom 8.84
(NYSE:Q) Qwest Communications Intl TelecomDom 8.51
(NYSE:DDR) Developers Diversified Realty REITRetail 8.44
(NASDAQ:WIN) Windstream Corp TelecomDom 8.3
(NYSE:GCI) Gannett Co Inc PublshNews 8.16
(NYSE:XL) XL Capital Class A Ord Shs PropInsure 7.65
(FNM) Fannie Mae Ord Shs Mtginv 7.46
(NYSE:PFE) Pfizer Ord Shs MjrDrgManu 7.21
(NYSE:RAI) Reynolds American Inc Cigarettes 7.19
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