12 Best Dividend Stocks Under $30

1. Amcor plc (NYSE:AMCR)

Share Price as of the Close of January 30: $9.75

Amcor plc (NYSE:AMCR) is an Australian packaging company that offers a wide range of related products for different industries. The company has revealed plans to acquire its US competitor, Berry Global, in an all-stock deal valued at $8.43 billion. This merger will create a major player in the consumer and healthcare packaging industry, with total revenues reaching $24 billion. The move comes amid a wave of industry consolidation, as demand for packaging materials has declined after a surge during the pandemic’s e-commerce boom. This acquisition marks Amcor’s largest deal to date, surpassing its 2019 purchase of US-based Bemis for $5.25 billion in an all-stock transaction, which required the company to divest three manufacturing facilities to secure approval from the US Justice Department.

In fiscal Q1 2025, Amcor plc (NYSE:AMCR) reported revenue of $3.35 billion, reflecting a slight decline of 2.6% from the same period the previous year. However, the company entered fiscal 2025 on a positive note, fueled by improved volume growth and stronger customer demand. Adjusted earnings per share increased by 5%, with contributions from both the Flexibles and Rigid Packaging segments. This growth was driven by higher volumes and a continued focus on cost control and maintaining strong margins.

In November 2024, Amcor plc (NYSE:AMCR) declared a 2% hike in its quarterly dividend to $0.1275 per share. This marked the company’s 41st consecutive year of dividend growth, which makes it one of the best dividend stocks on our list. The stock supports a dividend yield of 5.25%, as of January 30.

At the end of Q3 2024, 18 hedge funds tracked by Insider Monkey held stakes in Amcor plc (NYSE:AMCR), compared with 21 in the previous quarter. These stakes have a consolidated value of $185.3 million.

Overall Amcor plc (NYSE:AMCR) ranks first on our list of the best dividend stocks under $30. While we acknowledge the potential for AMCR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMCR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stock To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.