The FTSE 100 index has displayed remarkable strength this year, surging by 8% year-to-date and surpassing the significant 8,000-point milestone. Despite global economic challenges, several high-yield dividend stocks within the FTSE 100 present lucrative opportunities for income-focused investors. By examining robust dividend cover ratios and growth potential, here are five standout FTSE 100 dividend stocks to consider in December 2024.

1. M&G (Dividend Yield: 9.7%)
M&G showcased solid performance in its H1 2024 results, with assets under administration rising to £346 billion from £333 billion. Although underlying operating profit saw a slight 4% dip to £375 million, the company surpassed market expectations and continues to strengthen its Asset Management and Wealth divisions.

Recent Dividend: Issued an interim dividend of 6.60p in October 2024.
Dividend Cover Ratio: 3.8, signaling strong financial stability for consistent payouts.
Analyst Rating: Buy, with a 12-month price target of 239p (+20.27%).
2. Phoenix Group (Dividend Yield: 10.6%)
Phoenix Group continues to demonstrate impressive performance, with H1 operating profits climbing 15% to £360 million and cash generation reaching £950 million. Its focus on retirement and savings solutions cements its leadership in the sector.

Recent Dividend: Delivered a dividend of 26.65p in October, up from 26.00p last year.
Dividend Cover Ratio: 4.6, ensuring sustained and reliable payouts.
Analyst Rating: Sell, with a conservative 12-month price target of 521p (+3.91%).
3. Legal & General (Dividend Yield: 9.4%)
Legal & General experienced significant revenue growth, reporting a 39% increase in H1 2024 to £19.8 billion. Its strategy to expand into international markets, including Canada, the US, and the Netherlands, highlights its potential for long-term growth.

Recent Dividend: Paid 6.00p in September, up from 5.71p in the prior year.
Dividend Cover Ratio: 1.9, reflecting steady dividend sustainability.
Analyst Rating: Buy, with a 12-month price target of 251p (+14.85%).
4. B&M (Dividend Yield: 9.2%)
B&M, a major player in retail, continues to shine with H1 revenue increasing by 4% to £2.64 billion. While operating profits were slightly impacted by rising costs, the company is well-positioned for a robust holiday season.

Recent Dividend: Declared a final dividend of 34.70p for FY 2024.
Dividend Cover Ratio: 4.7, showcasing reliable financial strength for dividends.
Analyst Rating: Hold, with steady growth anticipated into 2025.
5. Vodafone (Dividend Yield: 8.2%)
Vodafone has made strides in stabilizing its operations, including selling off its Spanish and Italian divisions, which reduced net debt by 12% to €31.7 billion. Revenue rose 1.8% year-over-year, supported by robust performance across Africa, Turkey, and other European regions.

Upcoming Dividend: Scheduled to pay 2.25¢ in February 2025.
Dividend Cover Ratio: 6.9, indicating a solid financial foundation.
Analyst Rating: Hold, with a 12-month price target of 89.15p (+28.20%).
Why FTSE 100 Dividend Stocks Are Worth Considering
The FTSE 100 remains a reliable choice for investors seeking income stability amid economic uncertainties. High-yield dividend stocks, backed by solid fundamentals and attractive dividend cover ratios, provide an excellent balance of income generation and growth potential.

Final Thoughts
Investing in FTSE 100 dividend stocks demands a careful evaluation of market conditions, company fundamentals, and global economic trends. These five stocks, with their robust financial health and promising growth prospects, stand out as compelling options for December 2024.