10 Best Innovative Stocks that Pay Dividends

6. Hewlett Packard Enterprise Company (NYSE:HPE)

Number of Hedge Fund Holders: 58

Hewlett Packard Enterprise Company (NYSE:HPE) is a Texas-based multinational information technology company that provides innovative, open, and intelligent technology solutions through a service-based approach. It is among the top three companies responsible for inventing inkjet printers, a breakthrough in printing technology. The company also created the world’s first programmable pocket calculator. Additionally, it developed the atomic clock, which can synchronize global time with an astonishing accuracy of one-millionth of a second.

Hewlett Packard Enterprise Company (NYSE:HPE) reported a strong third quarter, highlighted by impressive revenue growth, particularly from its AI system conversions, alongside improved profitability. The company’s revenue for the quarter came in at $7.7 billion, up 10% from the same period last year. These results demonstrate the company’s progress in executing its edge-to-cloud strategy across networking, hybrid cloud, and AI. Significant innovation throughout the portfolio has enhanced its relevance to customers and positioned the company to continue delivering profitable growth for shareholders. Since the start of 2024, the stock has delivered a nearly 7% return to shareholders.

During fiscal Q3 2024, Hewlett Packard Enterprise Company (NYSE:HPE) generated $1.15 billion in operating cash flow and its free cash flow came in at $669 million. During the quarter, the company returned $221 million to shareholders through dividends and share repurchases. It has been paying regular dividends to shareholders since 2015, which makes HPE one of the best innovative stocks that pay dividends. The company offers a quarterly dividend of $0.13 per share and has a dividend yield of 2.87%, as recorded on September 18.

Hewlett Packard Enterprise Company (NYSE:HPE) was a popular buy among hedge funds in Q2 2024 as hedge fund positions in the company jumped to 58, from 49 a quarter earlier, according to Insider Monkey’s database. The stakes owned by these hedge funds have a consolidated value of $1.6 billion.