In this article, we will take a look at the Billionaire Mario Gabelli’s Top 12 Dividend Stocks.
GAMCO Investors is a diversified asset management and financial services company. It provides investment services through its subsidiary, GAMCO Asset Management. The unit manages separate accounts for high-net-worth individuals, institutions, and qualified pension plans. The company also advises a family of mutual funds.
Mario J. Gabelli serves as the firm’s Chairman. He founded Gabelli with a simple goal of using detailed research to find investment opportunities and deliver strong returns. His value investing approach continues to shape the firm’s strategy. Over the years, it has helped establish Gabelli as a respected name in the investment industry.
Dividend investing is also a key part of the firm’s approach. The Gabelli Dividend Growth Fund focuses on companies that pay dividends and have the ability to raise those payouts over time.
In its first-quarter 2026 report, the fund said that, as of March 31, it had returned $2.3 billion to shareholders since its IPO. The report noted that $1.0 billion came from the spin-offs of Associated Capital Group and Teton Advisors. Another $637 million was returned through the company’s stock buyback program, while $655 million came from dividends. The fund also reported contributing $82 million to charitable causes.
Given this, we will take a look at the top dividend stocks according to Mario Gabelli.
Mario Gabelli of GAMCO Investors
Our Methodology:
For this article, we screened for dividend companies in GAMCO Investors’ 13F portfolio as of Q1 2026. From there, we picked companies that have recently reported noteworthy developments likely to impact investor sentiment.
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12. Lincoln Electric Holdings, Inc. (NASDAQ:LECO)
GAMCO Investors’ Stake Value: $22,292,660
Dividend Yield as of June 23: 1.17%
On June 16, DA Davidson initiated coverage of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) with a Buy rating. It also set a $320 price target on the stock. Analyst Chris Dankert said the company is well-positioned to benefit from long-term industry trends, including reshoring, an aging technical workforce, and growing Industry 4.0 investments. More than 20% of Lincoln Electric’s sales come from automation solutions, which the firm views as a key advantage. DA Davidson also pointed to the company’s strong free cash flow generation and disciplined capital deployment. The firm believes these factors could support earnings growth, while improving business momentum may lead to a higher valuation multiple.
During the company’s Q1 2026 earnings call, President, CEO, and Chairman Steven Hedlund said a 10% price increase was not enough to fully offset inflation during the quarter. He noted that Lincoln Electric had already announced additional pricing actions across its welding segments, with those increases set to take effect in early May.
Hedlund also said cash flow, which is typically lower in the first quarter because of seasonal patterns, was further affected by a temporary increase in inventory. According to him, higher inventory levels were tied to efforts to maintain service levels under the Spotlight initiative and ongoing product migrations. Despite these headwinds, the company delivered a return on invested capital of 21.5%, which he said remained within top-quartile performance levels.
Executive Vice President, CFO, and Treasurer Gabriel Bruno reported that first-quarter sales increased about 12% year over year to $1.121 billion. He also noted that gross profit margin fell by 80 basis points to 35.6%, mainly because pricing and cost dynamics created an unfavorable impact of 90 basis points during the quarter.
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) operates in welding, cutting, brazing, machining, process automation, and field repair. The company conducts business through its Americas Welding, International Welding, and Harris Products Group segments.
11. The Scotts Miracle-Gro Company (NYSE:SMG)
GAMCO Investors’ Stake Value: $26,368,432
Dividend Yield as of June 23: 4.16%
On June 8, Stifel lowered its price recommendation on The Scotts Miracle-Gro Company (NYSE:SMG) to $75 from $76. It reiterated a Buy rating on the shares. The firm revised its FY2026-FY2028 estimates following the company’s update last week. Scotts reaffirmed its FY2026 guidance, though updated branded point-of-sale data indicated that sales trends slowed in May.
On June 2, UBS reduced its price objective on SMG to $63 from $70. It kept a Neutral rating on the stock. Ahead of a conference presentation, analyst Peter Grom said the company is facing several challenges, including softer demand, unfavorable weather conditions, weaker consumer spending, and higher input costs, all of which have weighed on the shares. The firm noted that management remains focused on offsetting higher costs through pricing actions and expanding margins. Even so, UBS believes organic sales growth and gross margin improvement are increasingly likely to come in toward the lower end of the company’s guidance range. Despite these pressures, the firm said Scotts’ current FY2026 targets still appear achievable.
The Scotts Miracle-Gro Company (NYSE:SMG) manufactures, markets, and sells products for lawn and garden care, as well as indoor and hydroponic gardening.