13 Best Dividend Stocks to Buy Under $50

7. Nutrien Ltd. (NYSE:NTR)

Number of Hedge Fund Holders: 33

Share Price as of the Close of December 20: $44.58

Nutrien Ltd. (NYSE:NTR) is a Canada-based fertilizer company and one of the largest potash producers in the world. The stock has fallen by nearly 16% since the start of 2024, with the company’s difficulties mirroring wider challenges in the agricultural sector, such as declining crop prices and global trade disruptions due to geopolitical tensions. However, its diversified portfolio, which includes potash, nitrogen, and phosphate products, provides some insulation from market fluctuations. Furthermore, Nutrien’s investments in digital technologies and sustainable farming practices position it well to capitalize on long-term industry trends.

In the third quarter of 2024, Nutrien Ltd. (NYSE:NTR) reported revenue of $5.09 billion, a decrease of more than 5% compared to the same period last year. The company saw increased potash sales volumes and lower operating costs during the first nine months of 2024, driven by its six-mine network and global distribution capabilities to meet growing customer demand. In addition, strong demand for crop nutrients in North America for the fall application season is emerging, following a period of lower field activity in Q3.

On November 6, Nutrien Ltd. (NYSE:NTR) declared a quarterly dividend of $0.54 per share, which was in line with its previous dividend. Overall, the company has raised its payouts for five consecutive years, which makes NTR one of the best dividend stocks under $50. The stock offers a dividend yield of 4.71%, as of December 23.

Of the 900 hedge funds tracked by Insider Monkey at the end of Q3 2024, 33 hedge funds held stakes in Nutrien Ltd. (NYSE:NTR), compared with 35 in the previous quarter. The total value of these stakes is over $411.7 million. With nearly 9.5 million shares, First Eagle Investment Management was the company’s leading stakeholder in Q3.