5 Best Cheap Dividend Stocks to Buy Now

2. Conagra Brands, Inc. (NYSE:CAG)

Share Price as of September 29: $33.47

Conagra Brands, Inc. (NYSE:CAG) is an American food company that specializes in consumer packaged goods. The company’s brands are available in supermarkets, restaurants, and food service establishments. On July 22, the company announced a 5.6% hike in its quarterly dividend to $0.33 per share. This marked the company’s third consecutive year of dividend growth. As of September 29, the stock’s dividend yield came in at 3.95%.

In fiscal Q4 2022, Conagra Brands, Inc. (NYSE:CAG) reported strong cash generation, with its operating cash flow standing at $424.7 million. The company’s free cash flow was recorded at $324.5 million, up from $15 million during the same period last year. During FY22, it paid nearly $581 million in dividends to shareholders.

The number of hedge funds tracked by Insider Monkey owning positions in Conagra Brands, Inc. (NYSE:CAG) stood at 30 in Q2 2022, up from 22 in the previous quarter. The stakes owned by these hedge funds have a consolidated value of over $603.4 million.