5 Best Dividend Stocks to Buy According to Billionaire James Dinan

2. JOYY Inc. (NASDAQ: YY)

Dinan’s Stake Value: $39,733,000
Percentage of James Dinan’s 13F Portfolio: 5.71%
Dividend Yield: 2.33%
Number of Hedge Fund Holders: 20

JOYY Inc. (NASDAQ: YY), a global video-based social media platform, is placed second on our list of 10 best dividend stocks to buy according to billionaire James Dinan. 

Recently, the company announced its unaudited financial results for Q4 and full-year 2020. During the quarter, JOYY Inc. (NASDAQ: YY) reported RMB 3,783.5 million in net revenue compared to RMB 2,131.9 in Q4 2019, representing a whopping 77.5% increase. 

During the quarter, the company reported a net loss from continuing operations attributable to controlling interest of RMB791.9 million (US$121.4 million), compared to net loss of RMB816.6 million in Q4 2019. The company declared a $0.51/ADS quarterly dividend, in line with the previous.

JOYY Inc. (NASDAQ: YY) has announced that the planned sales of its YY Live streaming business to Baidu, Inc. (NASDAQ: BIDU) for $3.6 billion is still on track. 

In its Q1 2021 investor letter, Tao Value, an asset management firm, highlighted a few stocks and JOYY Inc. (NASDAQ: YY) was one of them. Here is what the fund said:

“We exited YY after 3.5 years near all-time high. The annualized return (13~%) yet is below expectation, especially compared to founder CEO David Xueling Li’s net worth (mainly in YY shares) ballooning from $1.1B in 2018 to $2.3B in 2021. On value realization, I think YY did a good job, acquiring Bigo, spinning off then selling Huya & selling YY Live to Baidu. But as a minority shareholder, we were treated unfairly. E.g. the Bigo deal (for buying shares from executives including Li) was done by YY stock when the price was severely depressed, causing significant dilution for our ownership. We learned our lessons and will evaluate more rigorously in management’s partnership mindset in the future.”