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8% dividend yields! 2 of the best FTSE 100 stocks to buy

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I think these are two of the best FTSE 100 dividend stocks to buy right now as I feel they could deliver big shareholder profits for years to come.

A top FTSE 100 income share

I think there are fewer more appetising income stocks on the FTSE 100 today than Persimmon (LSE: PSN). I own shares in Barratt Developments and Taylor Wimpey because of their bright dividend outlooks. But their near-term yields don’t come anywhere close to that of their housebuilding rival. Today Persimmon’s yield for 2021 clocks in at a staggering 8%!

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The UK housing market is flying at the moment. Latest data from Rightmove showed the average home price in England, Scotland and Wales hit £338,447 in June. That’s up 6.7% from the start of 2021 as low interest rates, affordable mortgage products, government Help to Buy loans and stamp duty holidays all turbocharged demand.

Okay, the withdrawal of stamp duty relief creates a risk for FTSE 100 shares like Persimmon. But I believe those other drivers will keep trade at the housebuilders running at extremely-healthy levels now and in the next few years at least. And I think buying UK shares like this FTSE 100 firm is a great way to make money in this climate. In fact that high yield is tempting me to buy Persimmon for my own shares portfolio.

Hand holding pound notes

7.2% dividend yields!

Polymetal’s (LSE: POLY) 7.2% forward yield also makes it one of the FTSE 100’s best dividend stocks to buy for me. Like any commodities producer, profits at this UK share are closely aligned to the movement of raw materials prices. And in this example, Polymetal could suffer if the global economy bounces back strongly, the public health emergency is defeated soon, and therefore demand for safe-haven metals falls.

I’m not so sure that demand for this Footsie company’s product is about to fall, however. This is not simply because rather than receding, global coronavirus cases are back on the rise again. It’s because a range of other significant macroeconomic problems, from runaway inflation to rising tension between major trading nations like the US and China, are also coming to the fore. There’s also a strong possibility that the US dollar will fall in the coming years. Such a scenario would boost bullion demand as buying greenback-denominated assets would become more cost effective.

At current prices Polymetal changes hands on a price-to-earnings (P/E) ratio of 9 times. This makes it a serious bargain in my eyes and one I’m seriously looking at for my own portfolio. Don’t forget that the FTSE 100 also owns a string of world-class assets in Russia and Kazakhstan. The amount of metal it produced rose 3% between January and March thanks to record output from its Varvara complex.

And the production outlook looks pretty rosy over the longer term, too. Polymetal’s gold and silver ore reserves leapt 10% year-on-year in 2020 to 27.9m ounces. The company also owns a 9.1% stake in the Tomtor mine in Russia, recent studies of which confirmed it as being one of the top three rare earths projects on the planet by reserves.

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Royston Wild owns shares of Barratt Developments and Taylor Wimpey. 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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