15 Best Low Priced Dividend Stocks to Buy Now

8. Ally Financial Inc. (NYSE:ALLY)

Share Price as of the Close of March 17: $34.53

Forward P/E Ratio as of March 17: 8.52

Ally Financial Inc. (NYSE:ALLY) is an American bank holding company that primarily focuses on auto lending. Originally part of General Motors, it became an independent entity following the financial crisis. Now operating as an online-based bank, it manages $143 billion in retail deposits and offers an investment platform, among other financial services. It is the largest independent auto lender in the United States, meaning it operates separately from automakers like Toyota Financial Services. In 2024, the company issued $39.2 billion in auto loans, with an average yield of 10.4%. In addition, it has a significant insurance division, generating nearly $1.5 billion in auto insurance premiums over the year.

Ally Financial Inc. (NYSE:ALLY) has recently chosen to streamline its operations by exiting certain non-core business segments to concentrate on its primary areas of focus. As part of this strategy, the company sold its credit card business and discontinued new mortgage loan applications after January. Moreover, it anticipates saving over $60 million annually through recent efficiency enhancements.

Ally Financial Inc. (NYSE:ALLY)’s cash position remained strong at the end of Q4 2024. The company ended the quarter with $9.4 billion available in cash and cash equivalents, up $1.6 billion QoQ. Currently, it offers a quarterly dividend of $0.30 per share and has a dividend yield of 3.48%, as of March 17. The company has never missed a dividend since 2016.