5 Best Affordable Dividend Stocks to Buy

In this article, we discuss 5 best affordable dividend stocks to buy. If you want to read our detailed analysis of dividend stocks and their performance in the past, go directly to read 12 Best Affordable Dividend Stocks to Buy. 

5. Amcor plc (NYSE:AMCR)

Share Price as of February 26: $11.28
P/E Ratio as of February 26: 15.89

Amcor plc (NYSE:AMCR) is a global packaging company that provides flexible packaging for home, personal care, and other products. On February 8, the company declared a quarterly dividend of $0.1225 per share, which fell in line with its previous dividend. In 2022, it extended its dividend growth streak to 39 years. The stock has a dividend yield of 4.34%, as of February 26.

In the first half of FY23, Amcor plc (NYSE:AMCR) reported revenue of $3.6 billion, which showed a 3.85% growth from the same period last year. For the six months that ended December 2022, the company’s free cash flow amounted to $105 million. As of February 26, the stock has a share price of $11.28 and a P/E ratio of 15.89, which places it as one of the best affordable dividend stocks on our list.

As of the close of Q4 2022, 24 hedge funds tracked by Insider Monkey reported owning stakes in Amcor plc (NYSE:AMCR), up from 23 in the previous quarter. These stakes have a total value of over $258.2 million. Polaris Capital Management owned the largest stake in the company, worth over $183.6 million.

4. Medical Properties Trust, Inc. (NYSE:MPW)

Share Price as of February 26: $10.55
P/E Ratio as of February 26: 7.03

Alabama-based real estate investment trust company Medical Properties Trust, Inc. (NYSE:MPW) trades at $10.55 per share and has a P/E ratio of 7.03, as of February 26. It is among the best affordable dividend stocks on our list.

In the fourth quarter of 2022, Medical Properties Trust, Inc. (NYSE:MPW)’s dividends represented 85% of its AFFO per share. The company offers a quarterly dividend of $0.29 per share and has been raising its payouts consistently for the past 9 years. The stock has a dividend yield of 11%, as of February 26.

At the end of December 2022, 28 hedge funds tracked by Insider Monkey reported owning stakes in Medical Properties Trust, Inc. (NYSE:MPW), up from 23 in the previous quarter. The collective value of these stakes is over $367.5 million.

3. Golden Ocean Group Limited (NASDAQ:GOGL)

Share Price as of February 26: $10.34
P/E Ratio as of February 26: 4.52

Golden Ocean Group Limited (NASDAQ:GOGL) is a Bermuda-based dry bulk shipping company that owns one of the largest dry bulk fleets in the world. The company currently pays a quarterly dividend of $0.20 per share and has a dividend yield of 7.74%, as of February 26. With a share price of $10.34 and a P/E ratio of 4.52, it is one of the best affordable dividend stocks to buy.

In January, Fearnley upgraded Golden Ocean Group Limited (NASDAQ:GOGL) to Buy and also lifted its price target on the stock to $11.50. The firm appreciated the company’s assets and dividend yield.

At the end of Q4 2022, 15 elite funds in Insider Monkey’s database owned stakes in Golden Ocean Group Limited (NASDAQ:GOGL), down from 18 in the previous quarter. These stakes have a consolidated value of over $35.5 million. With 1 million shares, Encompass Capital Advisors was the company’s leading stakeholder in Q4.

2. Hennessy Advisors, Inc. (NASDAQ:HNNA)

Share Price as of February 26: $8.62
P/E Ratio as of February 26: 12.14

Hennessy Advisors, Inc. (NASDAQ:HNNA) is an American company that offers mutual fund services to its consumers. As of February 26, the stock has a share price of $8.62 and its P/E ratio came in at 12.14, which makes it one of the most affordable stocks on our list.

On February 9, Hennessy Advisors, Inc. (NASDAQ:HNNA) declared a quarterly dividend of $0.1375 per share, which remained consistent with its previous dividend. The stock has a dividend yield of 6.38%, as of February 26.

At the end of Q4 2022, Jim Simons’ Renaissance Technologies was the only stakeholder of Hennessy Advisors, Inc. (NASDAQ:HNNA), owning stakes worth over $696,000.

1. Telefónica, S.A. (NYSE:TEF)

Share Price as of February 26: $4.12
P/E Ratio as of February 26: 12.48

Telefónica, S.A. (NYSE:TEF) is one of the world’s largest telephone operators and mobile network providers, based in Spain. The company currently pays a semi-annual dividend of $0.1553 per share and has a dividend yield of 7.63%, as recorded on February 26.

In February, Bryan Garnier initiated its coverage of Telefónica, S.A. (NYSE:TEF) with a Neutral rating, expressing concerns regarding the company’s revenue growth in 2023.

As of the close of Q4 2022, 5 hedge funds tracked by Insider Monkey reported having stakes in Telefónica, S.A. (NYSE:TEF), the same as in the previous quarter. The collective value of these stakes is over $16.3 million.

You can also take a look at 12 Best AI Stocks for 2023 and 15 Best Oil Stocks to Buy

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