10 Best Dividend-Paying Stocks Under $15

6. Sirius XM Holdings Inc. (NASDAQ:SIRI)

Number of Hedge Fund Holders: 17

Share Price as of the Close of July 31: $3.45

Sirius XM Holdings Inc. (NASDAQ:SIRI) is an American broadcasting company that provides online radio and satellite radio services across the country. The company is currently facing difficulties due to the rising prominence of its competitors. Spotify, a global leader in digital music, recently reported an 18% increase in monthly active users in North America. In contrast, Sirius XM is struggling with its streaming platform, Pandora, which it acquired over five years ago. Pandora has seen a decline in subscribers, with self-pay subscribers for Pandora Plus and Pandora Premium dropping by 41,000 in the second quarter of 2024, ending the period with six million subscribers. Its overall revenue in Q2 also fell by 3% YoY at $3.18 billion. In addition to this, Sirius XM Holdings Inc. (NASDAQ:SIRI)’s own subscribers have fallen from 35 million in 2020 to 33 million in the most recent quarter.

That said, Sirius XM Holdings Inc. (NASDAQ:SIRI) is not in bad shape overall. It is actively pursuing acquisitions to navigate this difficult period. The company’s strategic investments in technology and automation are helping to lower costs, boost team efficiency, and improve the customer experience. The company anticipates completing the announced transaction with Liberty Media after the market closes on Monday, September 9th, and remains focused on achieving a long-term leverage ratio of mid-to-low three times adjusted EBITDA.

On July 24, Sirius XM Holdings Inc. (NASDAQ:SIRI) declared a quarterly dividend of $0.0266 per share, which was consistent with its previous dividend. The company maintains a seven-year streak of consistent dividend growth, which makes SIRI one of the best dividend stocks on our list. In the most recent quarter, the company returned $103 million to shareholders through dividends. The stock has a dividend yield of 3.43%, as of August 1.

According to Insider Monkey’s database of Q1 2024, 17 hedge funds owned stakes in Sirius XM Holdings Inc. (NASDAQ:SIRI), down from 22 in the previous quarter. These stakes have a total value of over $194.6 million. With nearly 37 million shares, Berkshire Hathaway was the company’s leading stakeholder in Q1.