In this article we discuss the 5 best dividend stocks to buy under $10. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Dividend Stocks to Buy Under $10.
5. Oxford Lane Capital Corp. (NASDAQ: OXLC)
Dividend Yield: 11.67%
No. of Hedge Fund Holders: 3
Oxford Lane Capital Corp. (NASDAQ: OXLC) is a management investment firm. It ranks 5th in our list of best dividend stocks to buy now under $10.
The company recently announced that underwriters can exercise their option to purchase an extra $13.0 million worth of notes as part of its public offering of 6.75% unsecured notes due in 2031. Oxford Lane Capital plans to use the proceeds from the public offering to invest in more opportunities. The public offer was for a total of $87.0 million in unsecured notes before the underwriter’s option. Some of the funds will also be used to redeem its 7.50% Series preferred shares.
Oxford Lane Capital Corp. (NASDAQ: OXLC) revealed that its GAAP net investment income in Q4 2020 amounted to $87.0 million, equivalent to $0.21 per share. Its net asset value as of December 31 was $5.44 per share, an improvement compared to the $3.88 NAV per share as of September 20, 2020.
4. Orchid Island Capital, Inc. (NYSE: ORC)
Dividend Yield: 14.10%
No. of Hedge Fund Holders: 10
Orchid Island Capital, Inc. (NYSE: ORC) is a company that operates as a real estate investment trust, with a particular liking for leveraged residential mortgage-backed securities. The company recently announced its Q1 2021 financials, revealing a $29.4 million, or $0.34 per common share, net loss for the three months ended March 31.
The company generated $24.9 million in net interest income equivalent to $0.29 per share in Q1. Its GAAP EPS for the same period was -$0.34, while its book value per share was $4.94. Orchid Island Capital recently announced the pricing of its public offering through which it plans to sell 8 million common shares. The company expects to collect $44.4 million in proceeds from the public offering.
Orchid Island Capital, Inc. (NYSE: ORC) plans to use the proceeds for some of its general corporate purposes, while a substantial share of the proceeds will be invested in an Agency RMBS portfolio.
3. Xinyuan Real Estate Co., Ltd. (NYSE: XIN)
Dividend Yield: 40.16%
No. of Hedge Fund Holders: 4
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) is a Chinese real estate company that mainly develops residential real estate in China’s tier-II cities. It is one of the best dividend stocks under $10, especially for investors who want to benefit from China’s fast-paced real estate market. Earlier this year, Xinyuan announced that it completed the offering of 14.0% senior notes due in 2024. The notes which were listed on the Singapore Exchange raised $170 million. The company plans to use the proceeds to cover some of its corporate expenses and refinance some of its offshore debt.
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) latest senior notes offering comes just a few months after the company issued $300 million worth of 14.5% notes due in 2023. As for its latest quarterly performance, the Chinese real estate company announced that it generated $655.4 million revenue in its fiscal Q3, which represents a 31.7% YoY gain. Its GAAP EPS for the same quarterly period was $0.46.
2. IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP)
Dividend Yield: 42.77%
No. of Hedge Fund Holders: 4
IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP) is a real estate company whose business activities include developing, owning, acquiring, and constructing shopping centers designed to be highly productive. The company reported that it generated a record ARS 5,285 million in Q1 2020 which was a refreshing departure from the ARS 341 million loss that it suffered in Q1 2020. The gains this year were courtesy of fair value changes in investment properties, as well as higher financial results.
IRSA’s portfolio consists of five A+&A office buildings with 95,000sqm of usable space, two B office buildings covering 20,000sqm, and 15 shopping malls occupying 333,500sqm. The company recently sold a property called Bouchard 710 located in Catalinas for $5,800 per square meter. It also sold some floors of Boston Tower for $5,600 per square meter. IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP) has maintained a consistent and uninterrupted dividend payout since 2008, and the fact that it is still priced under $10 makes it one of the best dividend stocks to buy under $10.
1. Apartment Investment and Management Company (NYSE: AIV)
Dividend Yield: 61.35%
No. of Hedge Fund Holders: 17
Apartment Investment and Management Company (NYSE: AIV) deals with the development, redevelopment, management, and ownership of apartments in the U.S. It has roughly 32,697 apartment homes and 120 apartment communities in its portfolio. The company’s director, Terry Considine, acquired 600,000 AIV shares worth $3.4 million from March 17 through 24 in March this year, bringing his total stake in the company to 6.3 million shares. The stock has gained 41% over the last 12 months. It ranks 1st in our list of best dividend stocks to buy under $10.
Apartment Investment and Management Company (NYSE: AIV) reported a 10 cents per share net loss in Q4 2020, which was more than the 1 cent net loss that the company reported in Q4 2019. The company’s total revenue in Q4 2020 was $38.6 million, a slight gain from the $38.2 million revenue reported in Q4 2019. AIV sold off its Apartment Income REIT in December last year as part of its strategy to shift more of its resources and investments into apartment communities.
You can also take a peek at Top 15 Dividend Stocks With Upside Potential and 15 Biggest Companies That Don’t Pay Dividends.
