13 Cheap High Dividend Stocks To Invest In Now

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7. General Mills, Inc. (NYSE:GIS)

Number of Hedge Fund Holders: 30

Dividend Yield as of February 17: 4.08%

P/E Ratio: 12.94

Founded in 1866, General Mills, Inc. (NYSE:GIS) is headquartered in Minneapolis, Minnesota. It is a global food company that produces and markets a wide range of branded consumer foods and pet products. It operates through four segments – North American retail, International, Pet, and North American Foodservice. On January 27, the company announced that it has finalized the sale of its Canadian yogurt business, including Yoplait, Liberté, and a manufacturing facility in Québec, to Sodiaal. The company expects to close the sale of its US yogurt business to Lactalis in 2025, pending regulatory approvals. These transactions will not impact General Mills’ fiscal 2025 outlook for organic net sales growth, operating profit, or free cash flow conversion.

General Mills, Inc. (NYSE:GIS) aims for strong cash generation, expecting to hit at least 95% free cash flow conversion in fiscal 2025. The company is also reshaping its portfolio, with around 30% of its net sales base changing since 2018. In the first half of 2024, operating cash flow jumped 19% to $1.8 billion, given the shifts in accounts payable. GIS invested $301 million in capital projects and returned $1.2 billion to shareholders through dividends and share buybacks.

On January 28, General Mills, Inc. (NYSE:GIS) announced a $0.60 per share quarterly dividend. The dividend is set to be distributed on May 1, to shareholders on record as of April 10. The company has consistently paid dividends for 126 years, which makes it one of the best dividend stocks to invest in.

According to Insider Monkey’s third-quarter database, 30 hedge funds were long General Mills, Inc. (NYSE:GIS), compared to 29 funds in the second quarter. Ken Griffin’s Citadel Investment Group was the biggest shareholder of the company, with 1.93 million shares valued at $142.7 million.

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