In this article, we will discuss 5 best dividend penny stocks to buy now. If you want to read our detailed analysis of dividend stocks and their past performance, go directly to read 10 Best Dividend Penny Stocks to Buy Now.
5. VAALCO Energy, Inc. (NYSE:EGY)
Number of Hedge Fund Holders: 15
Share Price as of July 2: $3.76
VAALCO Energy, Inc. (NYSE:EGY) is a Texas-based energy company that is engaged in the exploration of hydrocarbons. The company also specializes in the production and development of crude oil. The company currently pays a quarterly dividend of $0.0625 per share, having raised it by 92% in February. The stock has a dividend yield of 6.65%, as of July 2.
In the first quarter of 2023, the stock has a dividend yield of $80.4 million, which showed a 17.1% growth from the same period last year.
At the end of Q1 2023, 15 hedge funds tracked by Insider Monkey reported having stakes in VAALCO Energy, Inc. (NYSE:EGY), worth collectively $35 million.
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Follow Vaalco Energy Inc (NYSE:EGY)
4. Braemar Hotels & Resorts Inc. (NYSE:BHR)
Number of Hedge Fund Holders: 20
Share Price as of July 2: $4.02
Braemar Hotels & Resorts Inc. (NYSE:BHR) is an American real estate investment trust company that mainly invests in luxury hotels and resorts. The company reported revenue of $215.3 million in the first quarter of 2023, which showed a 33% growth from the same period last year. It ended the quarter with cash and cash equivalents of $281.5 million and restricted cash of $63.1 million. BHR is among the best penny stocks on our list that pay dividends.
On April 5, Braemar Hotels & Resorts Inc. (NYSE:BHR) declared a quarterly dividend of $0.05 per share, which was in line with its previous dividend. The company’s shares have a yield of 4.98%, as of July 2.
At the end of March 31, 20 hedge funds in Insider Monkey’s database held stakes in Braemar Hotels & Resorts Inc. (NYSE:BHR), worth over $42.2 million collectively. With 12.5 million shares, Davidson Kempner was the company’s leading stakeholder in Q1.
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Follow Braemar Hotels & Resorts Inc. (NYSE:BHR)
3. Nordic American Tankers Limited (NYSE:NAT)
Number of Hedge Fund Holders: 21
Share Price as of July 2: $3.67
Nordic American Tankers Limited (NYSE:NAT) is a Bermuda-based international tanker company that maintains a Suezmax-only fleet. It is one of the best penny stocks with dividends as the company has been making regular dividend payments to shareholders since 1997. It currently pays a quarterly dividend of $0.15 per share and has a dividend yield of 10.35%, as of July 2.
Nordic American Tankers Limited (NYSE:NAT) was a popular buy among elite funds in Q1 2023, as 21 hedge funds in Insider Monkey’s database held stakes in the company, up from 16 a quarter earlier. These stakes have a consolidated value of over $70 million.
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Follow Nordic American Tankers Limited (NYSE:NAT)
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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1. Brandywine Realty Trust (NYSE:BDN)
Number of Hedge Fund Holders: 23
Share Price as of July 2: $4.65
Brandywine Realty Trust (NYSE:BDN) tops our list of the best penny stocks. The real estate investment trust company pays a quarterly dividend of $0.19 per share and has a dividend yield of 16.34%, as of July 2.
As of the close of Q1 2023, 23 hedge funds tracked by Insider Monkey reported having stakes in Brandywine Realty Trust (NYSE:BDN), up from 22 in the previous quarter. These stakes have a total value of over $63.5 million.
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You can also take a look at 12 Best Manufacturing Stocks To Buy Now and 10 Dow Stocks Billionaires Are Loading Up On
