5 Best Beaten Down Dividend Stocks to Invest in Now

3. Iridium Communications Inc. (NASDAQ:IRDM)

Number of Hedge Fund Holders: 33
Year-to-Date Share Price Decline: 35.5%

Iridium Communications Inc. (NASDAQ:IRDM) is next on our list of the best dividend stocks. The American mobile phone operator company started paying dividends in 2022 and has paid regular dividends since then. It offers a quarterly dividend of $0.13 per share and has a dividend yield of 1.99%, as of March 30.

At the end of December 2023, 33 hedge funds in Insider Monkey’s database owned stakes in Iridium Communications Inc. (NASDAQ:IRDM), up from 28 in the previous quarter. These stakes are worth over $425.4 million in total.

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