30 Growing Dividend Stocks with Low PE Ratios

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19. Emerson Electric Co. (NYSE:EMR)

Forward P/E Ratio as of April 22: 16.21

Emerson Electric Co. (NYSE:EMR) ranks 19th on our list of the best growing dividend stocks. The American multinational manufacturing company offers products and services related to commercial, industrial, and consumer markets. Over the past five years, the company has actively reshaped its business strategy through a series of acquisitions and divestitures to align with evolving market trends.

In the third quarter of fiscal 2024, Emerson Electric Co. (NYSE:EMR) reported a notable increase in operating cash flow, reaching $1.06 billion compared to $842 million in the same quarter the year before. Free cash flow also saw an uptick, rising to $975 million from $769 million year-over-year. For fiscal 2024, Emerson anticipates distributing around $1.2 billion to shareholders via dividends. Given its current cash reserves, the company also appears well-positioned for continued dividend growth moving forward.

Emerson Electric Co. (NYSE:EMR)’s quarterly dividend comes in at $0.5275 per share and has a dividend yield of 2.11%, as of April 22. The company holds one of the longest dividend growth streaks in the market, spanning 67 years.

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