3 Top Dividend Stocks to Buy in December

If you are underwhelmed with the S&P 500's (SNPINDEX: ^GSPC) skinny little 1.2% yield, don't fret. There are other, higher-yielding options at your disposal. Some of the choices, like Enterprise Products Partners (NYSE: EPD), Bank of Nova Scotia (NYSE: BNS), and W.P. Carey (NYSE: WPC), not only have far more attractive yields, but those yields are also backed by attractive businesses.

Here's why you might want to jump on this high-yield trio in December.

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Enterprise operates in the boring energy niche

When most investors think of an energy stock, they likely think about volatile oil prices. That's not a mistake; the energy sector can be highly volatile.

However, Enterprise Products Partners actually operates in the least volatile niche of the energy sector, the midstream. It owns energy infrastructure assets, and its customers pay fees for the use of those assets. The price of energy is less important than the demand for energy, which is high most of the time, given the importance of energy to the modern world.

So when you look at this master limited partnership's (MLP's) huge 6.8% yield, you shouldn't dismiss the income opportunity it represents. Not only is that yield backed by a reliable business model, but the distribution has been increased annually for 27 consecutive years.

Enterprise also has an investment-grade-rated balance sheet. And its distributable cash flow covers the distribution by roughly 1.7x, so there's a lot of room for adversity before a distribution cut would be in the cards.

If you like boring income stocks, you'll find North American midstream giant Enterprise Products Partners attractive, even though it operates in the highly volatile energy patch.

Bank of Nova Scotia is making solid progress

If a slow and boring dividend stock isn't your speed, you might want to consider the low-risk turnaround story that backs Bank of Nova Scotia's lofty 4.5% yield. This Canadian banking giant has paid a dividend every year since 1833, which is closing in on an incredible 200 years. Very clearly, being a reliable dividend stock is important to the company.

Still, even reliable dividend stocks go through difficult periods. Scotiabank, as the company is more commonly known, got off track as it sought out growth in Central and South America. It was looking to differentiate itself from its Canadian peers, most of which opted to focus on growth in the United States. Scotiabank's approach didn't work out as well as hoped, so it is shifting gears. That has some investors worried about the future, given that the change was spurred by laggard financial results.

If you think in decades, rather than days, however, Scotiabank could be an attractive investment choice. That is largely because it is making solid progress on its overhaul, exiting less-desirable markets and expanding its U.S. exposure quickly by using partnerships.

The best proof of management's confidence, meanwhile, comes from the dividend, which held steady in 2024 as the makeover got underway but was increased again in 2025. If you like a good turnaround story, Scotiabank's lofty yield could be a good fit for your portfolio.

Growth is picking up at W.P. Carey

While Scotiabank is still working on its turnaround, net lease real estate investment trust (REIT) W.P. Carey is successfully emerging from its own overhaul. It was not a pretty makeover for dividend investors, given that the REIT reset its dividend lower in late 2023 when it exited the office sector. However, that move has set the stage for faster growth in the future, now that the troubled office portfolio is gone and the business is focused on industrial, warehouse, and retail properties.

The big dividend tell here, however, is that the very quarter after the dividend reset, W.P. Carey started to increase the dividend again. It has increased the dividend every quarter since. While a dividend cut is never a good thing, W.P. Carey's cut was a strategic decision made from a position of strength. That strength is starting to show through more strongly as well.

The REIT's adjusted funds from operations (FFO) increased by an attractive 6.5% year over year in the third quarter of 2025. It also increased its full-year 2025 guidance.

While it is too soon for W.P. Carey to provide 2026 guidance, the strength of the business suggests the future will be bright. That's good news if you like reliable dividend stocks with high yields. W.P. Carey's 5.5% yield, for reference, is well above that of the market and the 3.9% REIT average.

A trio to consider as December gets underway

December is only a few days old, and the holiday season hasn't really started yet. You can give yourself an early present with high-dividend-yielding stocks like Enterprise, Scotiabank, and W.P. Carey. While they will probably appeal to different types of investors, if you take the time to get to know them, it is likely that at least one will find its way into your portfolio before 2026 comes around.

Reuben Gregg Brewer has positions in Bank Of Nova Scotia and W.P. Carey. The Motley Fool recommends Bank Of Nova Scotia and Enterprise Products Partners. The Motley Fool has a disclosure policy.