10 Best Dividend-Paying Stocks Under $15

3. Kinross Gold Corporation (NYSE:KGC)

Number of Hedge Fund Holders: 31

Share Price as of the Close of July 31: $9.06

Kinross Gold Corporation (NYSE:KGC) is a Canadian silver and gold mining company that has operations across multiple countries. The company reported strong earnings in the second quarter of 2024. Its gold equivalent production reached 535,338 ounces, up from 527,399 ounces in the previous quarter. This growth was fueled by increased throughput and improved grades at various mining sites, reflecting efficient operations and strong production capabilities.

As a dividend stock, Kinross Gold Corporation (NYSE:KGC) is favored by investors because of its robust cash generation. In Q2 2024, the company generated $604 million in operating cash flow and its attributable free cash flow came in at $346 million. This strong free cash flow also allowed the company for $200 million in debt repayment. The company remains committed to carefully managing its operations, with an emphasis on maintaining cost efficiency and capital discipline while progressing with projects and exploration targets to enhance future value. Additionally, it continues to reinforce its investment-grade balance sheet and reduce debt.

Kinross Gold Corporation (NYSE:KGC) reached its all-time low in November 2000, trading at approximately $1.31 per share. This decline was caused by volatile gold prices, operational difficulties, and significant debt levels. Since then, the stock has surged by nearly 568%, with exceptional performance during the Great Recession of 2008. It also hit one of its peaks in April 2008, reaching $22.70 per share.

Kinross Gold Corporation (NYSE:KGC) started paying dividends in 2020 and has paid regular dividends to shareholders since then. It offers a quarterly dividend of $0.03 per share and has a dividend yield of 1.37%, as of August 1.

As of the end of the March quarter of 2024, 31 hedge funds owned stakes in Kinross Gold Corporation (NYSE:KGC), down from 36 in the preceding quarter. These stakes are worth over $374.3 million in total.