Dividend yields of 6.3%! Here are 2 stocks to consider buying for passive income

Hunting for top-notch dividend stocks to buy? Ben McPoland highlights one idea from the FTSE 100 and another from the FTSE 250.

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When looking for dividend stocks to buy, the enormous 9%+ yielders will often catch the eye. But much like one of those bargain all-you-can-eat buffets, they’re often too good to be true. In other words, they’re traps.

However, the following pair of dividend shares look solid to me. What’s more, they’re not carrying measly 1%-2% yields. Each one is offering a forecast dividend yield of 6.3%.

FTSE 100

The first stock is Aviva (LSE:AV.) from the FTSE 100. With more than 25m customers in the UK, Ireland and Canada, the insurer likely needs no introduction. Over 7m UK customers hold two or more policies with Aviva.

As we can see, the share price has done well, roughly doubling in five years. Yet the forecast dividend yield still sits at an attractive 6.3%.

After its £3.7bn acquisition of rival Direct Line, it’s now the UK’s largest motor and home insurance firm. And between 2025 and 2028, managements expects a compound annual growth rate of 11% in operating earnings per share.

Needless to say, this bodes well for the dividend prospects, with the market expecting a near-7% rise in the payout for FY26. Share buybacks are also set to resume this year, which could be supportive for the share price.

One inescapable fact here though is that the insurance market is competitive, while a recession wouldn’t help anyone, including Aviva.

But with the stock trading at a reasonable 11 times earnings, and the dividend prospects looking solid, I think Aviva is worth checking out.

FTSE 250

Next, we have TBC Bank (LSE:TBCG) from the FTSE 250. This one is probably less familiar, as it’s one of the two big banks in Georgia. That’s the country in the Caucasus, between Europe and Asia, not the US state.

This geography helps explain why the stock has rocketed nearly 250% in five years. As trade routes through Russia became restricted after the war, Georgia emerged as a vital trade hub connecting China and Central Asia to Europe.

It has additionally benefitted from skilled migrants arriving from Russia, as well as a tourist boom. TBC also has a strong presence in Uzbekistan, another high-growth economy that enjoyed 7.7% GDP growth in 2025.

This helped the lender grow operating income by 17% in Q3, and monthly active customers by 14% to 7.46m. Meanwhile, the bank’s return on equity is consistently in the mid-20s, which is above the industry average for European and emerging market banks.

The main risk I see is heightened political tensions, which resulted in less tourism revenues in early 2025. If this flares up again, it could hurt investment in the country, resulting in lower lending activity.

As things stand though, the bank looks well set up to continue growing. Tourism has been bouncing back, helping the Georgian economy grow 7.5% last year. The UN projects growth of 5.4% in 2026, and up to 6% in Uzbekistan.

The stock is trading very cheaply at just 5.5 times forward earnings, while boasting a forecast 6.3% yield. The payout is covered almost three times by expected earnings, offering a significant margin of safety.

With TBC stock down 13% since July, I reckon this is a dip-buying opportunity worth taking seriously for passive income.

Ben McPoland has positions in Aviva Plc. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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