13 High-Dividend Stocks to Invest In Under $10

2. MFA Financial, Inc. (NYSE:MFA)

Dividend Yield as of April 8: 16.82%

Share Price as of the Close of April 7: $8.93

MFA Financial, Inc. (NYSE:MFA) is a New York-based specialty finance company that mainly invests in residential mortgage loans and other real estate assets. Mortgage REITs operate quite differently from traditional REITs and are generally known for offering higher dividend yields. Rather than holding physical real estate, these REITs invest in real estate-related debt instruments, such as mortgages. Their income is primarily derived from interest payments, and they often rely on leverage to boost returns—making their business model more similar to that of a bank or hedge fund.

In the fourth quarter of 2024, MFA Financial, Inc. (NYSE:MFA) reported revenue of $50.8 million, which showed a 9.3% growth from the same period last year. The company’s fully owned subsidiary, Lima One, originated $151.1 million in new business-purpose loans, with the total approved loan capacity reaching $235.9 million. In addition, it provided $108.1 million in funding through draws on previously issued Transitional loans. During the period, Lima One earned $8.5 million in mortgage banking income.

MFA Financial, Inc. (NYSE:MFA) ended the year with $339 million available in cash and cash equivalents, up from $318 million in 2023. On March 6, the company declared a 2.9% hike in its quarterly dividend to $0.36 per share. It is one of the best dividend stocks on our list as the company has been making regular payments since its IPO in 1998, and since then, these dividends have totaled around $4.8 billion. The stock supports a dividend yield of 16.82%, as of April 8.