10 Best Dividend Stocks with Over 9% Yield According to Analysts

5. Vodafone Group Public Limited Company (NASDAQ:VOD)

Upside Potential as of August 12: 26.9%

Dividend Yield as of August 12: 10.24%

Vodafone Group Public Limited Company (NASDAQ:VOD) is a British multinational telecommunications company. It operates in expanding markets where it has solid positions and significant local scale. The company maintains a sustainable and predictable financial profile and benefits from strong structural drivers in Vodafone Business, Africa, and its investment portfolio. The stock has declined by over 71% on the Nasdaq exchange over the past decade as the board worked to stabilize the global giant. However, it seems the worst may be behind, with the stock rising nearly 7% since the beginning of 2024 and achieving a modest 12-month return of 2.22%.

Despite surging this year, Vodafone Group Public Limited Company (NASDAQ:VOD)’s recent earnings fell short of expectations. First-quarter revenues increased by 2.8% year-over-year to €9.04 billion ($9.68 billion), but progress has been uneven. While growth in Africa and Turkey was positive, it was offset by a slowdown in Europe and declining sales in the company’s crucial German market. This pattern has persisted for years and is commonly seen in large companies with diverse interests. Net margins have also been inconsistent. That said, it’s not all bad news. Shares are trading at a forward P/E multiple of 14.62x, making it relatively affordable. In addition, the company recently announced a share buyback program worth up to €500 million ($536 million).

Vodafone Group Public Limited Company (NASDAQ:VOD) has persisted in its investment in innovative practices. Recently, in collaboration with Qualcomm Technologies, Inc. and Xiaomi, it successfully tested a new 5G technology in Germany and Spain. This technology achieved download speeds nearing 1.8 gigabits per second (Gbps) using a new smartphone. The enhancement in speed and data throughput is expected to boost network capacity, freeing up additional bandwidth at mobile sites and improving the overall customer experience. The company currently offers a semi-annual dividend of $0.468 per share for a dividend yield of 10.24%, as of August 12.

Insider Monkey’s database of Q1 2024 indicated that 22 hedge funds held stakes in Vodafone Group Public Limited Company (NASDAQ:VOD), compared with 24 in the previous quarter. These stakes are worth over $172.6 million in total.