5 Best Dividend Penny Stocks to Buy Now

2. Pitney Bowes Inc. (NYSE:PBI)

Number of Hedge Fund Holders: 22
Share Price as of July 2: $3.54

Pitney Bowes Inc. (NYSE:PBI) is a Connecticut-based tech company that is widely known for its postage meters and other mailing equipment. The company’s revenue for Q1 2023 came in at over $835 million, down 10% from the same period last year. At the end of March 31, it had over $511.7 million available in cash and cash equivalents. It is among the best penny stocks on our list that pay dividends.

Pitney Bowes Inc. (NYSE:PBI) currently offers a quarterly dividend of $0.05 per share and has a dividend yield of 5.65%, as of July 2.

As per Insider Monkey’s database for Q1 2023, 22 hedge funds owned investments in Pitney Bowes Inc. (NYSE:PBI), growing from 19 in the previous quarter. The stakes owned by these funds have a collective value of roughly $40 million.

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