10 Best Dividend-Paying Stocks Under $15

5. Amcor plc (NYSE:AMCR)

Number of Hedge Fund Holders: 17

Share Price as of the Close of July 31: $10.53

A multinational global packaging company, Amcor plc (NYSE:AMCR) ranks fifth on our list of the best dividend stocks under $15. The company’s free cash flow has consistently been a strong point, which is favorable news for income investors. In the first nine months of FY24, the company reported adjusted free cash flow of $115 million, a significant increase from $14 million in the same period the previous year. This result met the company’s expectations. The improvement in cash flow is mainly due to better management of working capital. Management continues to project that adjusted free cash flow for the fiscal year will be between $850 million and $950 million.

With evolving investment trends, investors are increasingly focused on companies adopting sustainable investment solutions, which are essential for addressing climate change. In 2018, Amcor plc (NYSE:AMCR) became the first global packaging firm to commit to making all of its packaging recyclable or reusable by 2025. This pledge aims to tackle a significant environmental challenge using the company’s capability, scale, and reach. The shifting investment patterns have also significantly boosted the company’s cash generation. The company produces substantial annual cash flow and is dedicated to maintaining an investment-grade credit rating. It is believed that the company’s robust annual cash flow and strong balance sheet enable it to reinvest in the business for organic growth, pursue acquisitions or share repurchases, and return cash to shareholders through attractive and increasing dividends.

During the first nine months of 2024, Amcor plc (NYSE:AMCR) returned $570 million to shareholders through dividends and share repurchases. The company currently pays a quarterly dividend of $0.125 per share and has a dividend yield of 4.75%, as of August 1. With a dividend growth streak spanning over 40 years, AMCR is one of the best dividend stocks on our list.

At the end of March 2024, 17 hedge funds tracked by Insider Monkey held stakes in Amcor plc (NYSE:AMCR), compared with 22 in the previous quarter. These stakes are collectively valued at over $65.6 million. Ken Griffin’s Citadel Investment Group was the company’s leading stakeholder in Q1.