13 High-Dividend Stocks to Invest In Under $10

8. VAALCO Energy, Inc. (NYSE:EGY)

Dividend Yield as of April 8: 8.06%

Share Price as of the Close of April 7: $3.34

VAALCO Energy, Inc. (NYSE:EGY) is an American independent energy company, headquartered in Texas. The company specializes in hydrocarbon exploration. It reported mixed earnings in the fourth quarter of 2024, with revenue amounting to $121.7 million, down 18% from the same period last year. However, the revenue surpassed analysts’ estimates by $13.9 million. It posted a net profit of $11.7 million, which translates to $0.11 per diluted share, and recorded an Adjusted EBITDAX of $76.2 million.

VAALCO Energy, Inc. (NYSE:EGY) primarily operates offshore West Africa, with a key focus on the Etame Marin block off the coast of Gabon, where it has been active for over 20 years. EGY also holds assets in Equatorial Guinea and has expanded its portfolio through mergers and acquisitions. The company’s production is mainly oil, and it prioritizes low-cost, high-margin projects. It operates under production-sharing contracts and licenses, collaborating with host governments and joint venture partners.

VAALCO Energy, Inc. (NYSE:EGY)’s cash position also remained stable. The company ended the year with over $82.6 million available in cash and cash equivalents. During the year, it generated $113.7 million in operating cash flow. This sound cash availability enabled the company to return $33 million to shareholders through dividends in 2024. Moreover, its dividend and buyback distributions amounted to $83.4 million over the past two years, which makes it one of the best dividend stocks. Currently, it offers a quarterly dividend of $0.0625 per share and has a dividend yield of 8.06%, as of April 8.