Here Are My Three Favorite High-Yield Dividend Stocks to Purchase Right Now

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With oil prices briefly surpassing $100 per barrel and major stock indexes experiencing significant fluctuations, many investors may be feeling uneasy about the unpredictable nature of the 2026 market. One effective way to manage this volatility is by generating passive income through dividend-paying stocks.

Top 3 High-Yield Dividend Stocks for March

If you're looking to strengthen your passive income portfolio, consider these three high-yield dividend stocks this month.

1. Chevron

Chevron (NYSE: CVX) is currently trading near its highest price ever and is approaching the $200 per share mark. Despite this, it remains a standout choice among oil and gas companies.

Chevron is a solid foundation for any energy-focused portfolio. The company boasts an impressive 39-year streak of increasing its dividend and currently offers a robust 3.8% yield. It stands to benefit from rising oil prices, yet remains resilient even if prices fall, as it can cover its operations, investments, and dividends with Brent crude prices below $50 per barrel.

For perspective, Brent crude averaged $69.14 in 2025 and is just under $90 per barrel at present.

2. UPS

United Parcel Service (NYSE: UPS) saw strong performance at the start of the year, but recent surges in oil prices have increased delivery costs and weighed on its stock. Over the past decade, UPS shares have risen just over 2%, while the S&P 500 has soared by 242.5%. However, UPS may be poised for a turnaround.

The company is in the midst of a multi-year transformation aimed at boosting profitability. This includes reducing its reliance on low-margin deliveries for Amazon and focusing on higher-margin shipments for small and medium-sized businesses (SMBs) and specialized healthcare logistics.

In the most recent quarter, SMBs accounted for 31.2% of UPS's U.S. volume—a record for the fourth quarter. Revenue from healthcare logistics reached $11.2 billion, making up 12.6% of total revenue for 2025.

With a generous 6.6% dividend yield, UPS offers investors a steady stream of passive income as the company works through its strategic changes.

3. General Mills

General Mills (NYSE: GIS) recently hit its lowest point in 52 weeks and is now trading near a 13-year low.

The company's outlook has worsened, with management lowering its full-year fiscal 2026 guidance due to weak consumer demand and rising costs.

While it can be challenging to invest in a company facing declining earnings, General Mills presents a compelling value opportunity for patient, long-term investors.

Why General Mills Stands Out

General Mills' brand lineup is stronger than many of its competitors, with a focus on breakfast foods and a balanced mix of meal and snack options. As consumer preferences shift—evident in trends like PepsiCo's move toward smaller meals and Coca-Cola Zero Sugar's strong performance—food and beverage companies are adapting to meet health-conscious demands.

Although the near-term forecast is uncertain, analysts project that General Mills will earn $3.51 per share in fiscal 2026, comfortably covering its forward dividend of $2.44 per share. Notably, General Mills has maintained its dividend for 127 consecutive years without a single cut.

With a 5.6% yield, General Mills can be a valuable addition to a passive income strategy for value-focused investors.

Is Now the Time to Buy Chevron Stock?

Before adding Chevron to your portfolio, consider this:

The Motley Fool Stock Advisor team has recently identified what they believe to be the top 10 stocks to buy right now—and Chevron didn't make the list. The selected stocks could deliver substantial returns in the years ahead.

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