15 Best Low Priced Dividend Stocks to Buy Now

3. ARMOUR Residential REIT, Inc. (NYSE:ARR)

Share Price as of the Close of March 17: $18.70

Forward P/E Ratio as of March 17: 6.06

ARMOUR Residential REIT, Inc. (NYSE:ARR) is a Florida-based real estate investment trust company that mainly invests in mortgage-backed securities (MBS). In the fourth quarter of 2024, the company reported a net interest income of $12.7 million, which showed a staggering 119% growth from the same period last year. It reported distributable earnings of $46.5 million available to common stockholders, equating to $0.78 per common share. Additionally, it secured $136.2 million in capital through the issuance of 7,205,653 common shares as part of an at-the-market offering program.

ARMOUR Residential REIT, Inc. (NYSE:ARR) is dedicated to expanding homeownership opportunities for a broad segment of the population. Its strategy for delivering value to shareholders revolves around carefully investing in and managing a diverse, leveraged portfolio of MBS. In addition, the company emphasizes maintaining consistent dividend payouts for common shareholders, focusing on long-term goals rather than reacting to short-term market volatility.

ARMOUR Residential REIT, Inc. (NYSE:ARR) is popular among income investors because of its monthly dividend policy. It currently offers a monthly dividend of $0.24 per share. Despite a very high dividend yield of 15.38%, as of March 17, the company has never missed a dividend in the past 14 years. ARR is one of the best low priced stocks that pay dividends.