5 Best Environmental Dividend Stocks To Buy According To Al Gore

2. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 139
Generation Investment Management’s Stake Value: $650,968,296

An American financial services company, Mastercard Incorporated (NYSE:MA) is next on our list of the best dividend stocks. The company currently pays a quarterly dividend of $0.57 per share and has a dividend yield of 0.61%, as of April 15. It has been raising its dividends consistently for the past 10 years.

Mastercard Incorporated (NYSE:MA) announced the reduction of first-use plastic in payment card production, replacing it with recyclable, bio-sourced, chlorine-free, and ocean plastics.

Mastercard Incorporated (NYSE:MA) was the eleventh-largest holding of Generation Investment Management at the end of Q4 2022. The hedge fund owned MA stakes worth nearly $651 million, which accounted for 3.75% of its 13F portfolio.

At the end of the December quarter 2022, 139 hedge funds owned stakes in Mastercard Incorporated (NYSE:MA), compared with 146 a quarter earlier. The collective value of these stakes is over $15.6 billion.

Oakmark Funds mentioned Mastercard Incorporated (NYSE:MA) in its Q1 2023 investor letter. Here is what the firm has to say:

“A brief discussion of Mastercard Incorporated (NYSE:MA) is also appropriate given we have held this company for nearly 13 years. It’s the 13th-largest contributor to performance for the Fund in our nearly 24-year history, but the largest in total dollars and percentage terms at nearly 1760%. While a terrific company, there were better priced alternatives in the quarter, so we sold our position. Our history with Mastercard fits the adage that all good things must come to an end.”