10 Best Dividend Stocks of All Time

1. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 69

Dividend Yield as of July 23: 2.40%

The Procter & Gamble Company (NYSE:PG) is an American multinational consumer goods company that specializes in consumer goods. The company is a strong dividend payer, with a dividend growth streak spanning over 68 years. In addition, it has regularly distributed dividends to shareholders for 134 years straight. The company has a strong cash position, indicating its ability to maintain its dividend policy while meeting its targets. In the latest quarter, it generated over $4 billion in operating cash flow, with adjusted free cash flow reaching $3.3 billion and a free cash flow productivity of 87%. The company expects adjusted free cash flow productivity to reach 90% and plans to distribute over $9 billion in dividends in 2024. As of July 23, the company has a dividend yield of 2.40%.

In July of this year, The Procter & Gamble Company (NYSE:PG) hit a new all-time high of $169 per share, exceeding its previous peak of about $168, which it achieved in June. This milestone is largely attributed to the company’s strong execution. The company has consistently performed well, especially during inflationary periods, where it effectively implemented significant price hikes. For example, in fiscal 2023, the company achieved organic sales growth in every quarter.

According to Insider Monkey’s database of Q1 2024, 69 hedge funds owned stakes in The Procter & Gamble Company (NYSE:PG), down slightly from 71 in the previous quarter. These stakes have a total value of over $7.2 billion.

While we acknowledge the potential of PG as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued dividend stock that is more promising than PG but that trades at less than 7 times its earnings and yields nearly 10%, check out our report about the dirt cheap dividend stock.

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Disclosure: None. This article is originally published at Insider Monkey.