S&P 500's Top Stock Lifts Dividend 25%, KGC & MPC Raise Payouts

Several market-beating stocks just announced significant dividend increases. These stocks are all outperforming the 16% return of the S&P 500 Index by at least two to one in 2025. Multiple are up more than 100%. Below, we’ll dive into these stocks that are boosting their dividends by 10% to 25% after making big runs in 2025. All data is as of the November 7 close unless otherwise indicated.

Western Digital: The S&P 500’s Top Performer Issues Huge Dividend Increase

First up is one of the best-performing large-cap stocks in the entire market, Western Digital (NASDAQ: WDC). Shares have delivered a total return of 263% in 2025. This gives Western Digital the distinction of the best-performing stock in the S&P 500 Index for the year. Its business of providing storage devices to cloud data centers has resulted in a staggering ascent.

The company’s comparable revenues increased by 27% last quarter, and its gross margin rose by 660 basis points from the same period a year ago.

Western Digital’s revenue may appear to be down in 2024, according to third-party data sources. This is because it spun off SanDisk (NASDAQ: SNDK) earlier this year, resulting in a significant reduction in its total revenue. However, as a standalone entity, Western Digital is experiencing strong growth.

On October 30, Western Digital announced a 25% increase to its quarterly dividend. It will pay its next 12.5-cent dividend on Dec. 18 to stockholders of record as of the close of business on December 4. Western Digital’s indicated yield now stands at approximately 0.3%. Although small, it is encouraging to see the firm resume dividend payments. It stopped paying a dividend altogether in 2020 before reinstating it earlier this year.

Kinross Is Flying High Among Gold Stocks, Lifts Dividend 17%

Kinross Gold (NYSE: KGC) has been a standout performer in 2025. Overall, shares have delivered a total return of approximately 164%. Indeed, the over 50% rise in gold prices has been of huge benefit to Kinross. However, Kinross has been an outperformer among outperformers. Shares have outperformed many gold mining stocks, which have collectively surged. 

For example, Kinross’s return bests both the VanEck Gold Miners ETF (NYSEARCA: GDX) and the VanEck Junior Gold Miners ETF (NYSEARCA: GDXJ). Those funds have delivered total returns of around 114% and 118%, respectively.

Kinross recently increased its dividend substantially. The company’s annual dividend will move up by 17% to 14 cents per share. Pursuant to this, the company’s next 3.5-cent dividend is payable on Dec. 10 to shareholders of record as of the close of business on Nov. 26.

Overall, the stock’s indicated dividend yield now sits at just under 0.6%. Although not high, this figure is approximately equal to the yield currently offered by GDX.

Marathon Petroleum Boosts Yield Above 2% After Impressive Rally

Shares of Marathon Petroleum (NYSE: MPC) have found success this year, providing a total return of over 41%. Among U.S. large-cap oil, gas, and consumable fuels stocks, Marathon’s return ranks in the top five for 2025.

Marathon has been in a favorable position, primarily as a downstream oil company. It does not engage in oil production or exploration. It buys and refines oil, and then sells the resulting fuel products. The price of West Texas Intermediate crude oil has decreased by around 17% this year. This tends to be suitable for Marathon, as lower oil prices reduce its costs.

On October 29, Marathon declared a quarterly dividend of $1.00, a 10% increase over its previous payout. The new dividend is payable on December 10 to shareholders of record as of the close of business on November 19. This gives the stock a solid indicated dividend yield of approximately 2.1%.

This is considerably higher than the 1.1% yield of the S&P 500 Index. The company also believes that if refining profitability remains at current levels, it will be well-positioned to raise its dividend by 10% over the next couple of years.

WDC, KGC, MPC: Sweetening the Pot for Income Investors

Western Digital, Kinross Gold, and Marathon Petroleum have all performed exceptionally well this year. While their substantial stock price gains are impressive, it is also good to see they are working to return capital to shareholders through higher dividends.

Companies Mentioned in This Article: