In this article, we discuss 5 dividend stocks with over 8% yield to buy in September. If you want to read our detailed analysis of top high dividend stocks, go directly to read 10 Best Dividend Stocks with Over 8% Yield You Can Buy in September.
5. Oaktree Specialty Lending Corporation (NASDAQ:OCSL)
Dividend Yield as of September 8: 10.01%
Oaktree Specialty Lending Corporation (NASDAQ:OCSL) is a California-based specialty finance company that provides one-stop credit solutions to companies with limited access to capital markets. On August 4, the company declared a 3% hike in its quarterly dividend to $0.17 per share. The company has been raising its dividends consistently for the past 8 years, coming through as one of the top high dividend stocks. As of September, the stock has an attractive dividend yield of 10.01%.
In fiscal Q3 2022, Oaktree Specialty Lending Corporation (NASDAQ:OCSL) reported a total investment income of $63.1 million, and its net asset value per share came in at $6.89. Its net investment income for the quarter stood at $31.4 million, down from $32.3 million in the previous quarter. The company had over $34.3 million available in cash and cash equivalents, up from $29.3 million during the same period last year. In addition to this, Oaktree Specialty Lending Corporation (NASDAQ:OCSL) generated $23.7 million in free cash flow and paid nearly $1 million in dividends during the quarter.
At the end of Q2 2022, 10 hedge funds in Insider Monkey’s database owned stakes in Oaktree Specialty Lending Corporation (NASDAQ:OCSL), up from 9 in the previous quarter. The collective value of these stakes is over $72 million. With $32.8 million worth of stakes, Oaktree Capital Management held the largest stake in the company in Q2.
4. Ares Commercial Real Estate Corporation (NYSE:ACRE)
Dividend Yield as of September 8: 10.23%
Up next on our list of top high dividend stocks is Ares Commercial Real Estate Corporation (NYSE:ACRE), which is an Illinois-based real estate investment trust company. In August, JMP Securities reiterated its Outperform rating on the stock with a $16.5 price target. The firm believes that the company’s book values will return to their pre-pandemic levels.
Ares Commercial Real Estate Corporation (NYSE:ACRE) reported strong quarterly results in Q2 2022. The company generated $25.1 million in revenues, which showed a 6.9% year-over-year growth. It ended the quarter with $25.6 million in cash and cash equivalents and roughly $2.7 billion in total assets. The company’s free cash flow for the quarter stood at nearly $13 million, up from $9.8 million during the same period last year.
In the past five years, Ares Commercial Real Estate Corporation (NYSE:ACRE) has raised its dividend at a CAGR of 4.48%. The company currently pays a quarterly dividend of $0.33 per share, with a dividend yield of 10.23%, as recorded on September 8.
As of the close of Q2 2022, 7 hedge funds tracked by Insider Monkey owned stakes worth over $23.6 million in Ares Commercial Real Estate Corporation (NYSE:ACRE). In the previous quarter, 5 hedge funds owned positions in the company, with stakes valued at over $7.3 million.
3. Capital Southwest Corporation (NASDAQ:CSWC)
Dividend Yield as of September 8: 10.58%
Capital Southwest Corporation (NASDAQ:CSWC) is an internally-managed business development company that provides capital to middle-market companies. The company’s dividend history remained stable over the years as it paid many smaller supplemental dividends along with its regular payouts. The company pays a quarterly dividend of $0.48 per share and also announced a supplemental dividend of $0.15 per share in April. This top high dividend stock’s yield came in at 10.58% on September 8.
On August 1, Capital Southwest Corporation (NASDAQ:CSWC) announced its fiscal Q1 2023 earnings. The company’s total investment income for the quarter was recorded at $22.5 million, which showed a 21.3% year-over-year growth. Its total investment portfolio was valued at $1 billion and its equity portfolio had a value of $89.5 million. It ended the quarter with $18.8 million in cash and cash equivalents, up from $11.4 million in the previous quarter.
The number of hedge funds tracked by Insider Monkey owning stakes in Capital Southwest Corporation (NASDAQ:CSWC) stood at 9 in Q2 2022, the same as in the previous quarter. These stakes have nearly doubled in their value at $34 million, compared with $17.7 million worth of stakes owned by hedge funds in the preceding quarter.
2. Arbor Realty Trust, Inc. (NYSE:ABR)
Dividend Yield as of September 8: 10.67%
Arbor Realty Trust, Inc. (NYSE:ABR) is a New York-based real estate investment trust that provides debt capital for the multifamily loan and commercial real estate industries. In Q2 2022, the company reported strong financials with nearly $342 million available in cash and cash equivalents. Its total assets at the end of the quarter amounted to over $17.6 billion, up from $15 billion in the previous quarter. The company’s revenue came in at $94.2 million, showing a 60.4% growth from the same period last year.
On July 29, Arbor Realty Trust, Inc. (NYSE:ABR) declared a 2.6% hike in its quarterly dividend to $0.39 per share. The company maintains its position as one of the top high dividend stocks as it has raised its dividends consistently for the past 9 years. As of September 8, the stock’s dividend yield came in at 10.67%.
In June, Piper Sandler reiterated its Overweight rating on Arbor Realty Trust, Inc. (NYSE:ABR) with a $17 price target, acknowledging the company’s overall performance in the past quarters.
At the end of June 2022, 12 hedge funds tracked by Insider Monkey reported owning stakes in Arbor Realty Trust, Inc. (NYSE:ABR), down from 14 in the previous quarter. These stakes hold a collective value of over $74.5 million. D. E. Shaw, Ken Griffin, and Israel Englander were some of the company’s most prominent stakeholders in Q2.
1. Icahn Enterprises L.P. (NASDAQ:IEP)
Dividend Yield as of September 8: 15.87%
Icahn Enterprises L.P. (NASDAQ:IEP) is a New York-based diversified holding company that specializes in a wide range of industries. In Q2 2022, 2 hedge funds in Insider Monkey’s database owned stakes in the company, down from 4 in the previous quarter. These stakes hold a collective value of over $13.3 billion, with Icahn Capital LLP owning the major position in the company.
In Q2 2022, Icahn Enterprises L.P. (NASDAQ:IEP) reported revenue of $3.5 billion, up 17.1% from the same period last year. Its cash position remained strong during the quarter as it had $2.4 billion available in cash and cash equivalents and $26.9 billion in total assets. In the first six months of the year, the company’s net income stood at $195 million.
Though Icahn Enterprises L.P. (NASDAQ:IEP) has not raised its dividend since 2019, the company has paid regular dividends over the years. Its current quarterly payout stands at $2.00 per share, with a dividend yield of 15.87%, as recorded on September 8.
You can also take a look at 10 Best Undervalued Dividend Kings to Buy in September and 10 Monthly Dividend Stocks to Buy in September
