10 Top-Performing Dividend Stocks of November 2025 — The Income Giants Winning Big!
— From Merck to ONEOK, here are the income stocks that paid investors AND outperformed!
Dividend stocks are loved for three things:
steady income, downside protection, and long-term wealth building.
And in November 2025, some dividend payers didn’t just hand out income — they delivered strong price performance too.
Morningstar screened the Dividend Leaders Index, which tracks the 100 strongest, sustainable, high-yield names, and here are the top 10 performers of the month
Top 10 Dividend Winners of November 2025
1️⃣ HASI (Hannon Armstrong) — +24.00%
• Price: $34.36
• Dividend Yield: 4.89%
• Annual Dividend: $1.68
• 12-Month Performance: +14.91%
An asset management firm soaring with strong returns and stable payouts.
2️⃣ Merck (MRK) — +21.92%
• Price: $104.83
• Yield: 3.24%
• Annual Dividend: $3.40
• Economic Moat: Wide
• Trading at a 6% discount to fair value
Pharma giant with strong fundamentals and undervalued status.
3️⃣ UGI — +18.31%
• Price: $39.55
• Yield: 3.79%
• Annual Dividend: $1.50
A regulated gas company with strong momentum and steady cash flows.
4️⃣ Black Hills (BKH) — +17.40% ️⚡
• Price: $73.79
• Yield: 3.66%
• Annual Dividend: $2.70
A dependable utility name posting impressive returns.
5️⃣ NorthWestern Energy (NWE) — +15.79% ⚡
• Price: $69.09
• Yield: 3.82%
• Annual Dividend: $2.64
A strong year with nearly 30% 12-month performance.
6️⃣ Murphy Oil — +14.47% ️
• Price: $32.07
• Yield: 4.05%
• Dividend: $1.30
Strong momentum despite volatile energy markets.
7️⃣ Coterra Energy (CTRA) — +14.37% ⚙️
• Price: $26.84
• Yield: 3.28%
• Dividend: $0.88
• Rating: 4 Stars (Undervalued)
A strong performer with an attractive valuation.
8️⃣ Portland General Electric (POR) — +11.25%
• Price: $50.82
• Yield: 4.13%
• Dividend: $2.10
• Fair Value: $54 (Trading at a 6% discount)
Regulated and reliable — with a narrow moat.
9️⃣ APA Corp — +10.24%
• Price: $24.97
• Yield: 4.00%
• Dividend: $1
• Rating: 5 Stars (Deeply Undervalued!)
One of the most undervalued dividend payers in the group.
ONEOK (OKE) — +10.22% ️
• Price: $72.82
• Yield: 5.66%
• Dividend: $4.12
• Trading at a 20% discount to fair value
Despite a 32% drop over the year, November was a comeback month.
How Did Dividend Stocks Perform Overall?
• Dividend Leaders Index (top 100 high-yielders): +3.59% in November
• Dividend Composite Index: +2.78%
• Broad U.S. Market Index: +0.24%
Over the past 12 months:
• Dividend Leaders Index: +5.46%
• Dividend Composite Index: +8.93%
• U.S. Market Index: +13.92%
Dividend stocks didn’t beat the broad market over the year, but November was a strong month for income-focused investors.
✨ Why This Matters for Investors
Dividend winners like these offer:
✅ Income + price appreciation
✅ Stability in volatile markets
✅ Long-term compounding opportunities
✅ Attractive valuations (4 & 5 star ratings)
Names like ONEOK, APA, Coterra, and Merck are especially interesting because they combine strong yields with undervaluation.
Final Takeaway
November showed that even in a mixed market, dividend-paying companies with strong fundamentals can outperform — and still pay investors generously.
These names are worth watching for:
⭐ Yield hunters
⭐ Defensive investors
⭐ Long-term income portfolios
⭐ Value investors looking for discounts
— From Merck to ONEOK, here are the income stocks that paid investors AND outperformed!
Dividend stocks are loved for three things:
steady income, downside protection, and long-term wealth building.
And in November 2025, some dividend payers didn’t just hand out income — they delivered strong price performance too.
Morningstar screened the Dividend Leaders Index, which tracks the 100 strongest, sustainable, high-yield names, and here are the top 10 performers of the month
Top 10 Dividend Winners of November 2025
1️⃣ HASI (Hannon Armstrong) — +24.00%
• Price: $34.36
• Dividend Yield: 4.89%
• Annual Dividend: $1.68
• 12-Month Performance: +14.91%
An asset management firm soaring with strong returns and stable payouts.
2️⃣ Merck (MRK) — +21.92%
• Price: $104.83
• Yield: 3.24%
• Annual Dividend: $3.40
• Economic Moat: Wide
• Trading at a 6% discount to fair value
Pharma giant with strong fundamentals and undervalued status.
3️⃣ UGI — +18.31%
• Price: $39.55
• Yield: 3.79%
• Annual Dividend: $1.50
A regulated gas company with strong momentum and steady cash flows.
4️⃣ Black Hills (BKH) — +17.40% ️⚡
• Price: $73.79
• Yield: 3.66%
• Annual Dividend: $2.70
A dependable utility name posting impressive returns.
5️⃣ NorthWestern Energy (NWE) — +15.79% ⚡
• Price: $69.09
• Yield: 3.82%
• Annual Dividend: $2.64
A strong year with nearly 30% 12-month performance.
6️⃣ Murphy Oil — +14.47% ️
• Price: $32.07
• Yield: 4.05%
• Dividend: $1.30
Strong momentum despite volatile energy markets.
7️⃣ Coterra Energy (CTRA) — +14.37% ⚙️
• Price: $26.84
• Yield: 3.28%
• Dividend: $0.88
• Rating: 4 Stars (Undervalued)
A strong performer with an attractive valuation.
8️⃣ Portland General Electric (POR) — +11.25%
• Price: $50.82
• Yield: 4.13%
• Dividend: $2.10
• Fair Value: $54 (Trading at a 6% discount)
Regulated and reliable — with a narrow moat.
9️⃣ APA Corp — +10.24%
• Price: $24.97
• Yield: 4.00%
• Dividend: $1
• Rating: 5 Stars (Deeply Undervalued!)
One of the most undervalued dividend payers in the group.
ONEOK (OKE) — +10.22% ️
• Price: $72.82
• Yield: 5.66%
• Dividend: $4.12
• Trading at a 20% discount to fair value
Despite a 32% drop over the year, November was a comeback month.
How Did Dividend Stocks Perform Overall?
• Dividend Leaders Index (top 100 high-yielders): +3.59% in November
• Dividend Composite Index: +2.78%
• Broad U.S. Market Index: +0.24%
Over the past 12 months:
• Dividend Leaders Index: +5.46%
• Dividend Composite Index: +8.93%
• U.S. Market Index: +13.92%
Dividend stocks didn’t beat the broad market over the year, but November was a strong month for income-focused investors.
✨ Why This Matters for Investors
Dividend winners like these offer:
✅ Income + price appreciation
✅ Stability in volatile markets
✅ Long-term compounding opportunities
✅ Attractive valuations (4 & 5 star ratings)
Names like ONEOK, APA, Coterra, and Merck are especially interesting because they combine strong yields with undervaluation.
Final Takeaway
November showed that even in a mixed market, dividend-paying companies with strong fundamentals can outperform — and still pay investors generously.
These names are worth watching for:
⭐ Yield hunters
⭐ Defensive investors
⭐ Long-term income portfolios
⭐ Value investors looking for discounts