Don't be fooled—dividend stocks aren't just for retirees. In fact, some stocks have dividend yields so high that investors really are earning passive income.
What are the highest dividend yields around in September 2021? Check out the top seven for yields so high they'll surprise you.
1. Irsa Propiedades Comerciales SA (IRCP) has a majorly high dividend yield.
Right now, Argentinian real estate company Irsa Propiedades Comerciales SA (NASDAQ:IRCP) boasts a 30.3 percent dividend yield. Over the last 12 months, investors have accrued a nearly 118 percent dividend yield, amounting to an annual payout of $3.53 per share (for reference, that's higher than the current share price of $2.94).
2. SuRo Capital (NASDAQ:SSSS)
SuRo Capital, which also goes by NeXt Innovation Corp. (NASDAQ:SSSS), has been batting a good average as far as dividend yields go. Right now, the stock's earnings sit at a 3.98 percent yield. Over the last 12 months, investors have accrued 72.06 percent or $9 per share.
3. Templeton Dragon Fund (TDF)
At $17.93 per share, Templeton Dragon Fund (NYSE:TDF) stock's 30.11 percent dividend yield amounts to a sizable annual return. Over the last 12 months, investors earned $5.60 per share with payouts distributed on a semiannual basis. The most recent payout was announced on Sept. 2 and paid out on Sept. 20.
4. Toronto-Dominion Bank (TD)
For Toronto-Dominion Bank (NYSE:TD) investors, a 3.88 percent dividend yield really adds up. Dividend payouts occur on a quarterly basis, and investors have accrued an annual payout of $2.50 per share over the last 12 months. Dividend payouts are on the rise for TD stock, which is a good sign for potential long-term investors.
5. BlackRock (BLK)
Don't be fooled by BlackRock's dividend percentage being on the lower side. The 1.94 percent yield really adds up considering the stock has a market value of $852.07 per share. That's almost $16 per share annually, which you can automatically add to your investment.
6. M&T Bank Corporation (MTB)
At $133.57 percent per share, M&T Bank (NYSE:MTB) stock's 3.29 percent dividend yield currently adds $4.40 per share annually to the investment. The payout occurs quarterly and the company appears to be consistent with payouts based on historical records.
7. Lockheed Martin Corporation (LMT) rounds out the list of the highest dividend yields right now.
Lockheed Martin Corporation (NYSE:LMT) currently maintains a dividend yield of 3.09 percent. With a hearty share price of $336.51 a pop, that yield amounts to earnings of $10.40 per share. The quarterly payouts help investors accrue returns over time.
Your best bet to maximize high dividend yields is to reinvest.
Automatically reinvesting dividends will increase your returns and dividend payouts over time. The best part? You don't have to invest a single extra dollar on top of your cost basis. You can include high-yield dividend stocks as part of a diverse portfolio and earn steady investment gains.