3 of the Best Dividend Stocks to Buy in May 2026

Dividend stocks can be a crucial part of any well-balanced portfolio. In addition to the dividend income they generate, they can also make for fairly stable long-term investments, and they can reduce your overall risk. For a company to generate consistent dividend income, there needs to be confidence in its ability to continually grow and perform well.

This month, three of the best dividend stocks that I think investors can add to their portfolios without much worry are AbbVie (NYSE: ABBV), Verizon Communications (NYSE: VZ), and Canadian Natural Resources (NYSE: CNQ). Here's why they can be excellent stocks to load up on right now.

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AbbVie

Pharmaceutical giant AbbVie has been an excellent dividend growth stock for years. What's great about the business is that it has managed to balance growing its business while also growing its dividend. With dividend stocks, you often have to give up growth opportunities in exchange for dividends, but that's not the case with AbbVie.

Back in 2020, it completed a massive $63 billion acquisition of Allergan, enabling it to expand its growth prospects and add Botox to its portfolio in the process. The healthcare company needed a way to grow after its top-selling drug Humira lost patent protection, and AbbVie has been successful in doing so. The company has a robust portfolio of drugs today, and in its most recent period, which covered the first three months of 2026, its revenue rose by more than 12%.

AbbVie pays a dividend that yields around 3.4%, which is more than three times the S&P 500 average of 1.1%. Over the past five years, it has also raised its dividend by 33%. The healthcare stock is down 9% this year, but it trades at an incredibly cheap valuation, with its forward price-to-earnings (P/E) multiple (which is based on analyst expectations) at just 14. For long-term dividend investors, the stock could be a steal of a deal right now.

Verizon Communications

Verizon Communications offers an even higher yield at 5.9%. Even though the stock is up around 17% this year, it has taken a beating in recent years, and so it's still a fairly cheap buy. Its forward P/E multiple is just under 10.

It also possesses some exciting growth prospects as the company acquired Frontier earlier this year, which will expand its fiber access and open up more growth opportunities. The company believes that it "will be uniquely positioned to offer our customers the best combined mobility and fiber experience for mobile, home internet, and other essential services across a significantly expanded footprint."

Verizon has generally been a slow-growing business over the years, but with the Frontier acquisition, there's plenty of reason to be excited about the company's future growth prospects. Its business is stable, and it makes for a good, reliable dividend stock to own, but adding Frontier into the mix makes it arguably an even better buy, particularly for investors craving more growth. Verizon has also increased its payout by 13% over the past five years.

Canadian Natural Resources

Canadian Natural Resources is a top oil and gas stock that can provide you with a way to collect dividend income while also potentially hedging against inflation and economic uncertainty. This year, the stock has risen an incredible 40% due to higher oil prices.

While a sharp rise in stock price will adversely impact the yield, Canadian Natural Resources stock still pays 3.8%. And with it being in a strong position to benefit from rising oil prices, its forward P/E remains modest as well, at less than 14. While oil prices may eventually come down, the uncertainty in the Middle East isn't going away just yet. There's the possibility that oil prices may even rise higher if the war in Iran doesn't end soon.

But regardless of what happens, this can make for a top dividend stock to buy right now, as Canadian Natural Resources is a leading crude oil and natural gas producer, which has done well even when oil prices have been low. It's been paying a dividend even amid challenging times. This year marks the 26th consecutive year that it has raised its payout, and it has averaged a compounded annual growth rate of around 20% during that stretch.

David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends AbbVie and Canadian Natural Resources. The Motley Fool recommends Verizon Communications. The Motley Fool has a disclosure policy.