5 Best Dividend-Paying Stocks Under $50

1. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 100
Share Price as of April 7: $27.8

An American financial services company, Bank of America Corporation (NYSE:BAC) tops our list of the best dividend stocks under $50. The company has been raising its dividends consistently for the past 9 years and pays a quarterly dividend of $0.22 per share. The stock has a dividend yield of 3.16%, as of April 7.

Bank of America Corporation (NYSE:BAC) was a part of 100 hedge fund portfolios in Q4 2022, as per Insider Monkey’s data. The stakes owned by these hedge funds have a total value of $37.5 billion.

Ariel Investments mentioned Bank of America Corporation (NYSE:BAC) in its third-quarter 2022 investor letter. Here is what the firm has to say:

“We initiated three new positions in the quarter. We added leading financial institution Bank of America Corporation (NYSE:BAC) which serves individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management, and other financial and risk management products and services. The current company was formed through various mergers including NationsBank, FleetBoston, US Trust, Countrywide Financial, and Merrill Lynch with the legacy commercial bank to form a national banking powerhouse and bulge bracket investment firm. As one of the ‘Big Four’ U.S. banks it enjoys scale driven cost advantages and economies of scale which provide meaningful competitive advantages and potential for strong returns in the largely commoditized banking industry. A survivor of the financial crisis, BAC has emerged with a solid capital base and stands to benefit from a rising interest rate environment.”

You can also take a look at 12 Best WallStreetBets Stocks To Buy Now and 12 Best Dow Stocks to Buy Now

Follow Insider Monkey on Twitter