You don't have to settle for puny dividend income. Thousands of stocks offer dividends. Many of them, though, have dividend yields that don't amount to a hill of beans.
What if you could invest in solid companies with dividends that could really boost your income? The good news is that you can. Here are seven spectacular high-yield dividend stocks to buy in July.
1. AbbVie
AbbVie's (ABBV -2.78%) dividend yield currently stands at nearly 4.4%. You can probably count on higher dividends in the future. The drugmaker has increased its dividend for 51 consecutive years, making it a Dividend King.
Don't worry about declining sales for AbbVie's huge blockbuster Humira. The company has plenty of other products with excellent potential as well as a promising pipeline. AbbVie fully expects to return to solid growth once it moves past the initial impact of the loss of exclusivity for Humira.
2. Brookfield Infrastructure
Infrastructure is hot right now. And so is one of the leading infrastructure stocks -- Brookfield Infrastructure's (BIP -0.77%) (BIPC -0.95%). Its share price has risen more than 15% year to date.
Brookfield Infrastructure's total return is even more attractive thanks to the yield of over 3.3% for its BIPC shares and close to 4.4% for the BIP units. The company expects to grow its distribution between 5% and 9% annually over the long term.
3. Brookfield Renewable
We're staying in the same family with Brookfield Renewable (BEP -1.76%) (BEPC -2.49%). Like Brookfield Infrastructure, it's managed by Brookfield Asset Management. Brookfield Renewable also offers an attractive yield of over 4.2% for shares trading under the BEPC ticker and nearly 4.7% for its units trading under the BEP ticker.
Want even better news? Brookfield Renewable thinks it will deliver average total returns of between 12% and 15% going forward. If the company achieves this goal, it could triple or perhaps even quadruple an initial investment within the next 10 years.
4. Crown Castle
Sure, shares of Crown Castle (CCI -1.18%) have fallen so far in 2023 while the overall market has risen. But the real estate investment trust (REIT) has softened the blow somewhat with its outstanding dividend. Crown Castle's yield currently stands at nearly 5.4%.
The main headwinds for Crown Castle are high interest rates and Sprint's merger with T-Mobile, which caused the company to lose some business. However, I think the future continues to look bright for Crown Castle with the prospects of lower rates in 2024 and the growing demand for high-speed cellular service.
5. Energy Transfer
If you're really looking for a juicy dividend, check out Energy Transfer (ET -1.45%). The midstream energy company's yield is nearly 9.5%.
Energy Transfer stock is dirt cheap with shares trading at a forward earnings multiple of around 7.3x. The company's pipelines and other midstream energy assets should also continue to generate stead cash flow for a long time to come.
6. Enterprise Products Partners
I also like another top midstream energy stock -- Enterprise Products Partners (EPD -1.35%). The company operates more than 50,000 miles of pipelines across the U.S. as well as natural gas processing plants and other facilities. Its distribution yield currently tops 7.5%.
Enterprise Products Partners also recently joined an elite group. The company raised its distribution by 5.3% earlier this week. This marks Enterprise's 25th consecutive year of distribution increases.
7. U.S. Bancorp
Never let a crisis go to waste. Shares of U.S. Bancorp (USB -0.17%) have fallen this year after several banks failed. But as a result, U.S. Bancorp's dividend yield soared and is now just a hair under 5.5%. The stock is also attractively valued with shares trading below 8x forward earnings.
It's possible that U.S. Bancorp stock will remain volatile with some uncertainty still lingering over the banking industry. However, the company is well-managed and should have solid long-term growth prospects.