5 Best Dividend Paying Stocks Under $50

1. The Scotts Miracle-Gro Company (NYSE:SMG)

Share Price as of September 30: $44.12

The Scotts Miracle-Gro Company (NYSE:SMG) is an Ohio-based manufacturing company that produces and sells consumer lawn, garden, and pest control products. In fiscal Q3 2022, the company reported cash and cash equivalents of over $27.8 million, while its total assets stood at over $2.5 billion. Its cash flow generation also remained stable, reporting $463 million in operating cash flow and $430 million in free cash flow. The Scotts Miracle-Gro Company’s (NYSE:SMG) dividend payout ratio stands at 36.2%.

On August 2, The Scotts Miracle-Gro Company (NYSE:SMG) declared a quarterly dividend of $0.66 per share, in line with its previous dividend. The company holds a 12-year streak of dividend growth, coming through as one of the best stocks for retirees. As of September 30, the stock’s dividend yield came in at 6.10%.

As of the close of Q2 2022, 25 hedge funds in Insider Monkey’s database owned stakes in The Scotts Miracle-Gro Company (NYSE:SMG), up from 19 in the previous quarter. These stakes are valued at over $142.8 million. First Eagle Investment Management was the company’s largest stakeholder in Q2, owning over 1.7 million shares.

You can take a look at 10 Best Dividend Stocks to Buy According to Diamond Hill Capital and 10 Best Dividend Stocks Under $50 According to Hedge Funds

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