President Donald Trump is shaking up the business world with new tariffs. He levied a 10% charge on all goods imported from China, and plans to levy a 25% charge on imports from Mexico and Canada. Over the next few weeks, his administration also plans to announce “reciprocal” tariffs on countries that tax U.S. exports. Tariffs on aluminum, steel, and now autos, pharmaceutical products, and semiconductor imports are creating uncertainty for companies across industries.
As a result, investors are seeking out stocks that will get by unscathed. They want companies that will keep paying out dividends no matter what happens with trade policy. This is because for every 5% increase in U.S. trade taxes, S&P 500 Index ($SPX) constituents will make 1%-2% less per share.
Market watchers have spotted two “tariff-proof” stocks that look pretty solid right now: Annaly Capital Management (NLY) and Viper Energy (VNOM). These companies are in relatively safe industries and pay higher-than-average dividends.
Dividend Stock #1: Annaly Capital Management
Annaly Capital Management (NLY) is a mortgage investment company structured as a real estate investment trust (REIT), requiring the distribution of profits to shareholders through dividends. The company currently offer a 12.1% dividend yield with an annual payment of $2.60.
Since the start of 2025, shares are up nearly 17%.
Valued at $12.38 billion by market capitalization, the company trades at a reasonable forward price-earnings ratio of 7.55x.
The company recently reported fourth-quarter earnings. Earnings per share of $0.78 beat analyst estimates and reflected a huge improvement from a loss of $0.88 in the prior-year period. The company also reported a dramatic increase in its margins to 0.75%, up from -0.25% in 2023. Looking ahead, analysts are forecasting a 9.4% jump in EPS to $0.70 for the current quarter.
Analysts like what they see with Annaly, calling it a “Moderate Buy.” Their average price target of $21.21 is below its current trading price, although its Street-high price target of $23.50 represents marginal upside potential.
Dividend Stock #2: Viper Energy Partners
Viper Energy (VNOM) is part of Diamondback Energy (FANG), making money from oil and gas rights across the United States. Its business model involves renting out land rights and collecting payments on those rentals. The company pays its shareholders well, with a 2.4% dividend that pays out $1.20 annually.
VNOM shares are up nearly 70% over the past 52 weeks and up roughly 3% in the year to date.
The company has a market capitalization of $10.7 billion and a forward price-earnings ratio of 26.07x.
At the end of January, the company shared operating results for the fourth quarter, including operating income of $228.7 million. Its full Q4 release will come on Feb. 24, and analysts are guiding for a 38% year-over-year drop in EPS to $0.41.
Analysts really like VNOM stock, with a consensus “Strong Buy” rating on shares. Eleven recommend a “Strong Buy” while two suggest a “Moderate Buy.” They predict the stock will hit $58, 15.2% higher than current prices, showing they believe in Viper’s business plan and growth strategy.
