12 Best Dividend Stocks Under $30

7. Flowers Foods, Inc. (NYSE:FLO)

Share Price as of the Close of January 30: $19.73

Flowers Foods, Inc. (NYSE:FLO) is a Georgia-based company that specializes in the production and marketing of bakery products. The company’s strong cash position makes it a reliable dividend payer. In the first nine months of 2024, it generated $282.4 million in operating cash flow. During this period, the company also returned $152.5 million to shareholders through dividends. In addition, it has raised its payouts for 22 consecutive years, which makes it one of the best dividend stocks on our list. The stock’s dividend yield on January 30 came in at 4.9%.

Flowers Foods, Inc. (NYSE:FLO) maintains a strong foothold in the Southeast and Southwest, where it commands over 30% market share and owns popular brands like Wonder, Nature’s Own, and Tasty Cake. The company’s strategy prioritizes steady revenue growth and margin expansion, with a goal of achieving 4-6% annual EBITDA growth and 1-2% sales growth. By emphasizing higher-margin product categories, such as organic and gluten-free offerings, the company enhances its earnings potential.

As per Insider Monkey’s database of Q3 2024, 25 hedge funds owned stakes in Flowers Foods, Inc. (NYSE:FLO), compared with 26 in the previous quarter. The overall value of these stakes is more than $313.3 million. Among these hedge funds, Renaissance Technologies was the company’s leading stakeholder in Q3.