30 Growing Dividend Stocks with Low PE Ratios

22. McKesson Corporation (NYSE:MCK)

Forward P/E Ratio as of April 22: 18.59

McKesson Corporation (NYSE:MCK) is an American healthcare company, headquartered in Texas. The company focuses on pharmaceutical distribution, medical supplies, health information technology, and healthcare management solutions.

In fiscal Q3 2025, McKesson Corporation (NYSE:MCK) posted revenue of $95.3 billion in the recent quarter, marking an 18% year-over-year increase. Adjusted operating income also saw a solid 16% rise, reaching $1.5 billion. However, revenue came in just below analysts’ expectations of $96.08 billion, partly due to softer results in the U.S. pharmaceutical segment. With a forward P/E ratio of 18.80, the company is viewed as one of the more appealing value opportunities in the market.

Following this strong performance, McKesson Corporation (NYSE:MCK) raised its full-year adjusted EPS forecast to a range of $32.55 to $32.95, representing an expected annual increase of 19% to 20%. The company also reiterated its commitment to shareholder returns, distributing $3.1 billion over the first nine months of 2024, which included $254 million in dividend payments.

McKesson Corporation (NYSE:MCK), one of the best growing dividend stocks, currently offers a quarterly dividend of $0.71 per share and has a dividend yield of 0.41%, as of April 22. The company has raised its payouts for eight consecutive years.