2 Reliable Dividend Stocks With Yields Above 8% That You Can Buy With $100 Now and Hold Forever

Are you seeking reliable stocks that offer substantial passive income with minimal risk? Look no further than Hercules Capital (NYSE: HTGC) and Altria Group (NYSE: MO), both of which have dividend yields above 8% at current prices.

Hercules Capital is a business development company (BDC) that focuses on providing venture capital to start-ups in exchange for equity stakes or warrants. While not all of their investments pan out, successful ventures like Palantir and Axsome Therapeutics have more than made up for the losses. Hercules Capital has been consistently increasing its quarterly payouts since 2010, currently offering a standard distribution of $0.40 per share, resulting in an 8.1% dividend yield. Additionally, with a supplemental distribution of $0.08 per share per quarter, investors could potentially receive a 9.8% yield next year.

On the other hand, Altria Group, known for its Marlboro brand, boasts an impressive 8.4% dividend yield at recent prices. Despite declining cigarette sales, Altria has managed to raise its dividend payout 58 times over the past 54 years. The company’s investment in e-vapor start-up NJOY has shown promising results, with accelerating sales of its FDA-authorized pod-based system. Although revenue is slightly down, Altria Group anticipates a 2% to 4.5% increase in adjusted earnings per share in 2024, thanks to stock repurchases.

While Hercules Capital and Altria Group may not be featured in the Motley Fool Stock Advisor’s list of top 10 stocks, both offer attractive dividend yields for investors looking to bolster their passive-income stream. Consider adding these reliable dividend stocks to your portfolio and holding onto them for the long term.