Consistency and discipline go hand in hand and play a large part in practically anything good or beneficial in our lives. Exercise and diet, skill development, career growth, personal habits, and even emotional well-being improve with steady, stable, and consistent growth over long periods. 

Successful investors apply this mantra to their investment choices. For example, companies can be consistent in many ways, such as focusing on growth, R&D,  the top and bottom lines, and shareholder value—but it all boils down to two things: consistency and growth. 

A company that can get through chaotic market periods and pays consistent dividends while improving its balance sheets and maintaining growth is a winner. Dividend Kings, stable companies with reliable business models and consistent dividend growth for 50 years or more, often fit the description of a winner to a T. 

But there are 54 Dividend Kings now, so which ones should you buy? Well, I’ve found that taking Wall Street’s pulse is often a great starting point. So, let’s look at the top-rated Dividend Kings with the highest yields today. 

How I Came Up With The Following Stocks

I found these top-rated high-yield Dividend Kings through Barchart’s Stock Screener tool. 

• Annual Dividend Yield: Left blank. Note: this is trailing twelve months, so forward values when I discuss the companies will be different. 
• Current Analyst Ratings: 4.5 to 5 (Strong Buy). I’m looking for the cream of the crop here, so I’ve limited the results to only strong buy-rated Dividend Kings. 
• Watchlist: Kings. As you can see, I keep several watchlists on Barchart, which makes it so easy to sift through different types of stocks for various analyses. Today, I’ve limited the search to Dividend Kings only. 

With these filters set, I got the following results: 

I’ve arranged the results from highest to lowest yields and took the top three. Here they are in that order: 

Coca-Cola Company (KO)

The Coca-Cola Company is one of the world's most well-known (and loved) dividend stocks. Warren Buffet is famously making roughly 60% yield annually from his investments in the company starting from the late 1980s. 

As a company, there’s also much to love about Coca-Cola. It is the world’s most famous and recognizable beverage brand, with several bestsellers like Sprite, Minute Maid, and its namesake line, Coke, and various diet and zero-calorie products. 

Meanwhile, Coke’s dividends get paid like clockwork. Not only that, the company has increased payouts for 62 years (going on 63, expected later this month), and has over 100 years of dividend payments under its belt. Currently, the company pays 48.5 cents quarterly, which translates to a $1.94 annual rate and a 3.06% yield. 

Analysts also love the stock, giving it a near-unanimous strong buy recommendation with a 4.68 average score and a $85 high target price. 

California Water Service Group Holding (CWT)

One of the largest public utility companies in the US, Cal Water provides water service to residential, commercial, and industrial customers across various regions. It focuses on water quality, conservation, and infrastructure improvements to ensure reliable water delivery. Cal Water also implements sustainability initiatives and customer assistance programs to promote efficient water use and affordability.

The company is set to pay a regular dividend of 30 cents per share with a February 10 ex-date, plus a special dividend of 4 cents. Its regular dividend payment works out to $1.20 annually, which translates to a 2.71% yield. It also has an average score of 4.60 and a high target price of $61 from analysts. 

Gorman-Rupp Company (GRC)

The last Dividend King on this list is the Gorman-Rupp Company, which designs, manufactures, and sells pumps and pumping systems for various industries, including municipal, industrial, construction, and agriculture. Its products have widespread applications, covering everything from trash disposal to high-viscosity and corrosive pumps. 

Though it is the least-covered Dividend King on this list with a strong buy recommendation, Gorman-Rupp has many qualities that income investors might find attractive. For instance, the company has paid 300 quarterly dividends and has increased payouts for 52 years. Its latest payout totals 74 cents annually, reflecting a still-decent 1.96% yield. 

GRC stock also has a high target price of $56, so investors willing to bet on GRC may also get some capital appreciation on the stock in the next twelve months. 

Final Thoughts

Dividend growth investors target stable companies with a history of increasing their dividends. You get to participate in the company’s growth when times are good, and when markets have a hissy fit, you can sleep better at night knowing these companies have track records that keep the cash flowing. The ever-increasing dividends aren’t bad either; it’s like having an annual salary increase, only you don’t need to perform well on the job this time. All you need to do is keep one of these Dividend Kings in your portfolio.