30 Growing Dividend Stocks with Low PE Ratios

17. Cardinal Health, Inc. (NYSE:CAH)

Forward P/E Ratio as of April 22: 14.58

Cardinal Health, Inc. (NYSE:CAH) is an Ohio-based multinational healthcare services company that specializes in the distribution of pharma products and related devices. Recently, Jefferies upgraded the stock to Buy from Hold and has maintained a $150 price target. The firm has shown optimism about the company’s future earnings and management performance.

Cardinal Health, Inc. (NYSE:CAH) reported mixed earnings in fiscal Q2 2025. The company posted revenue of $55.2 billion, down 4% from the same period last year. However, the revenue beat analysts’ estimates by $247 million. In addition, its EPS of $1.93 also surpassed analysts’ consensus by $0.17. The company announced that it had finalized the acquisition of a majority stake in GI Alliance. This move, combined with the recently completed transaction involving Integrated Oncology Network to support the Navista oncology platform, was seen as a key step in advancing its growth in specialty care. According to the company, the acquisitions are expected to enhance its ability to deliver greater value to both healthcare providers and patients.

At the end of the quarter, Cardinal Health, Inc. (NYSE:CAH) had $3.8 billion available in cash and cash equivalents. It offers a quarterly dividend of $0.5056 per share for a dividend yield of 1.51%, as of April 22. The company has been rewarding shareholders with growing dividends for the past 38 years, which makes it one of the best dividend stocks.