12 Best Dividend Stocks Under $30

3. The Western Union Company (NYSE:WU)

Share Price as of the Close of January 30: $10.4

The Western Union Company (NYSE:WU) is a Colorado-based multinational financial services company that offers online payment services in over 200 countries and territories. Over the past year, the stock has dropped more than 17%. Once a dominant force in its industry, the company lost its competitive edge with the emergence of PayPal and other fintech rivals offering faster, more affordable, and convenient digital payment solutions. In addition, the growth of blockchain technology and cryptocurrency-based transfer services has posed a significant challenge to traditional money transfer businesses.

Despite these challenges, The Western Union Company (NYSE:WU) has attracted investor interest through its commitment to returning value to shareholders. The company’s board recently authorized a $1 billion stock repurchase program with no set expiration date, noting that the timing and amount of buybacks would depend on factors such as market conditions and stock performance. The company has a track record of actively repurchasing shares, having allocated approximately $308 million for buybacks in 2023, with annual repurchases ranging from $240 million to $553 million between 2018 and 2023.

The Western Union Company (NYSE:WU) is one of the best dividend stocks on our list as the company has been making regular dividends to shareholders since 2006. The company’s quarterly dividend comes in at $0.235 per share and has a dividend yield of 9.08%, as of January 30.

At the end of Q3 2024, 27 hedge funds tracked by Insider Monkey held stakes in The Western Union Company (NYSE:WU), compared with 32 in the previous quarter. The consolidated value of these stakes is nearly $400 million.