10 Best Debt Free Dividend Stocks to Invest in

2. Mueller Industries, Inc. (NYSE:MLI)

Number of Hedge Fund Holders: 27

Market Cap as of December 7: $9.14 billion

Enterprise Value as of December 7: $8.12 billion

Mueller Industries, Inc. (NYSE:MLI) is an American machinery industry company that manufactures a wide range of products for industrial markets. The company has acquired Nehring Electrical Works Company and its affiliated companies, providing a solid foundation for long-term growth in the electrical and power infrastructure sector. This acquisition complements the company’s existing presence in other critical infrastructure sectors. In addition, the company has acquired Elkhart Products Corporation, which is expected to boost production capacity and potentially contribute to revenue growth.

In the fourth quarter of 2024, Mueller Industries, Inc. (NYSE:MLI) reported revenue of $923.5 million, which showed a 26.1% growth from the same period last year. The increase was mainly driven by sales from businesses acquired in the second half of 2024 and higher unit volumes in US construction-related products. In addition, the increase in net sales was supported by higher net selling prices, with COMEX copper averaging $4.22 per pound during the quarter, which was 13% higher than the same period last year. The company’s operating income came in at $170.3 million, up 26% on a YoY basis. Its net income of $137.7 million showed a 15.4% growth from the prior-year period.

Mueller Industries, Inc. (NYSE:MLI) also reported a strong cash position, which makes it one of the best debt free stocks that pay dividends. The company generated over $140 million in operating cash flow. It ended the quarter with over $1 billion available in cash and cash equivalents. The company currently offers a quarterly dividend of $0.20 per share and has a dividend yield of 0.99%, as of February 11. It has been rewarding shareholders with growing dividends for the past four years.