In recent years, scouting out the top FTSE 100 dividends has been a rewarding endeavour. Some of those companies paying out 7% or more as a dividend have not just offered big cash payments, but excellent share price appreciation too. The safer stream of income from dividend stocks can’t be ignored either, given the market jitters around at the moment.

What Footsie stocks fit the bill today? Well, at the moment, only two stocks are offering a yield above 7%: Ithaca Energy (LSE: ITH) – at 10.47% – and Legal & General (LSE: LGEN) – at 7.07%.

Which is the best value? Let’s take a look.

Finance

Legal & General’s been one of the big-yielding stalwarts on the FTSE 100 of late. The yield’s hovered around the 7%-10% range for years. Investors have even been treated to a 40% rise in share price since early 2025. Not bad.

The current dividend policy is to raise the dividend by 2% a year. This is decent if unspectacular. It’s not keeping up with current levels of inflation, for example, and it was reduced recently from a 5% yearly increase.

As an insurer and wealth manager, the company’s sensitive to macroeconomic developments like an ailing economy. The usually reliably rising dividend wasn’t increased in 2020 and was cut in 2008 before that. Events like a pandemic or a global financial crisis are risks to bear in mind, given the future will surely not be free from these unforeseeable ‘black swan’ events.

North Sea

Ithaca Energy, on the other hand, is a new entrant to London’s leading index. The oil & gas firm runs operations in the North Sea and has been boosted by high oil prices this year. But that can be a downside too.

The dividend policy is to pay “15%-30% of post-tax net cash from operating activities”. That’s what’s led to the eye-catching yield of above 10%. But can it last given earnings that can fluctuate depending on the market price of the ever-so-useful black stuff?

Well, the consensus forecast is for a slight increase in the next two financial years. But I’d take that with a pinch of salt, especially as the US midterms results may force a certain red-hatted president’s hand on Iran. A (long overdue) resolution to that conflict might crater the price of oil, thus making a double-digit yield not long for this world.

Best one?

What’s the verdict then? Which is the best value? I’ll start by saying that both have issues to be aware of. This is often the case when a yield is 7%, or more. If there were no downsides, then you would expect the share price to rise in tandem, consequently bringing the yield down as a percentage.

For my money, Legal & General looks the best. The yield looks more sustainable, and that’s one reason why I own the stock. I think it could be worth considering.

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John Fieldsend owns shares in Legal & General.