2 Top Dividend Stocks to Buy Hand Over Fist Right Now

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Dividend stocks can be a great way to supplement your portfolio growth from share price gains and inject more cash into your overall returns. Whether you use that cash to reinvest or put it aside for a rainy day, dividend stocks can be an excellent addition to any portfolio and for investors with a variety of investment styles.

If you're hunting for two top dividend stocks to add to your portfolio right now, here are a couple of names to consider the next time you go stock shopping.

1. Amgen

Amgen (NASDAQ: AMGN) is a healthcare giant with an impressive history of paying and raising its dividend.

The stock yields around 2.8% based on current share prices, which is about double that of the average stock trading on the S&P 500 index. Dividend returns combined with moderate share price increases -- which are often associated with value-oriented healthcare stocks -- have enabled the company to deliver a total return of 70% to faithful shareholders over the trailing-five-year period.

The company has also increased its dividend by around 55% in that same time frame. Currently, Amgen boasts a forward annual dividend yield of $9 per share, which comes down to $2.25 on a quarterly basis. Amgen has raised its dividend for 11 consecutive years.

Amgen develops and sells a wide range of drugs targeting various ailments and often underserved conditions for which there are limited treatment options. Its medicines treat everything from osteoporosis, hyperlipidemia, anemia, and Crohn's disease to rheumatoid arthritis, melanoma, plaque psoriasis, hyperparathyroidism, and various genetic disorders.

Looking at Amgen's recent financial results, which were for the second quarter of 2024, overall revenue rose 20% year over year to $8.4 billion. This was driven by a 20% increase in product sales, and 12 core Amgen medicines delivering at least double-digit sales growth in the quarter.

One example is its blockbuster drug Prolia, which brought in $1.2 billion in the quarter, a 13% increase from one year ago. Prolia is approved for numerous indications, including individuals with osteoporosis who are at high risk for fracture. The company generated $2.2 billion in free cash flow in the quarter, with net income coming in at $746 million.

Amgen's bottom-line figure was down double digits from the prior year's quarter, but largely related to expenses stemming from its acquisition of rare disease drugmaker Horizon Therapeutics last year rather than any operational deficiency. Amgen paid about $28 billion for the acquisition.