5 Best May Dividend Stocks To Buy

In this article, we discuss 5 best May dividend stocks to buy. If you want to read our detailed analysis of dividend stocks and their past performance, go directly to read 10 Best May Dividend Stocks To Buy. 

In addition to covering topics like best dividend stocks to buy, at Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, artificial intelligence technology is on the cusp of earth-shattering breakthroughs, so we identified the cheapest AI stock that is trading at less than 5 times its market value excluding cash and investments with the potential to deliver 100x returns. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. You can subscribe to our free daily enewsletter by entering your email address below. Now, let’s take a look at the 5 best May dividend stocks to buy.

5. RTX Corporation (NYSE:RTX)

Ex-Dividend Date: May 16

RTX Corporation (NYSE:RTX) is a Virginia-based aerospace and defense company that also offers services in national security and technological advancements. The company declared a 6.8% hike in its quarterly dividend to $0.63 per share. This was the company’s 30th consecutive year of dividend growth, which makes RTX one of the best dividend stocks on our list. The stock has a dividend yield of 2.33%, as of May 5.

At the end of Q4 2023, 61 hedge funds tracked by Insider Monkey held stakes in RTX Corporation (NYSE:RTX), down from 63 in the previous quarter. These stakes have a total value of nearly $1.4 billion. With nearly 9 million shares, Fisher Asset Management was the company’s leading stakeholder in Q4.

4. Tetra Tech, Inc. (NASDAQ:TTEK)

Ex-Dividend Date: May 17

Tetra Tech, Inc. (NASDAQ:TTEK) will be going ex-dividend on May 17. The California-based engineering services company offers a quarterly dividend of $0.29 per share, having raised it by 11.5% on May 2. The company’s dividend growth streak stands at 9 years, which places TTEK on our list of the best dividend stocks to buy in May. As of May 5, the stock has a dividend yield of 0.56%.

The number of hedge funds tracked by Insider Monkey’s database owning stakes in Tetra Tech, Inc. (NASDAQ:TTEK) grew to 27 in Q4 2023, from 23 in the previous quarter. The total value of these stakes is more than $292.3 million.

3. eBay Inc. (NASDAQ:EBAY)

Ex-Dividend Date: May 31

eBay Inc. (NASDAQ:EBAY) is an American multinational e-commerce company that operates an online marketplace platform. The company declared a quarterly dividend of $0.27 per share on May 2, which fell in line with its previous dividend. It is one of the best dividend stocks on our list as the company has been growing its dividends every year since 2019. The stock has a dividend yield of 2.18%, as of May 5.

As of the end of December 2023, 42 hedge funds in Insider Monkey’s database held stakes in eBay Inc. (NASDAQ:EBAY), growing from 37 in the preceding quarter. These stakes are collectively valued at over $1.1 billion. With over 4.5 million shares, Harris Associates was the company’s largest stakeholder in Q4.

2. FactSet Research Systems Inc. (NYSE:FDS)

Ex-Dividend Date: May 31

FactSet Research Systems Inc. (NYSE:FDS) specializes in providing financial data, analytics, and research solutions for investment purposes. On May 2, the company increased its quarterly dividend by 6.1% to $1.04 per share. This marked the company’s 25th consecutive year of dividend growth, which makes FDS one of the best dividend stocks on our list. The stock’s dividend yield on May 5 came in at 0.92%.

FactSet Research Systems Inc. (NYSE:FDS) was included in 27 hedge fund portfolios at the end of Q4 2023 as tracked by Insider Monkey, up from 21 in the previous quarter. The stakes held by these hedge funds have a collective value of nearly $209 million.

1. Dover Corporation (NYSE:DOV)

Ex-Dividend Date: May 31

Dover Corporation (NYSE:DOV) tops our list of the best dividend stocks to buy in May. The diversified manufacturing company offers a quarterly dividend of $0.51 per share and has been growing its dividends for the past 67 years. The stock has a dividend yield of 1.14%, as of May 5.

With a collective stake value of roughly $670 million, 21 hedge funds tracked by Insider Monkey held positions in Dover Corporation (NYSE:DOV) in Q4 2023, which remained the same as in the previous quarter. Among these hedge funds, Adage Capital Management was the company’s leading stakeholder in Q4.

You can also take a look at 10 Best Trucking Stocks to Buy and 23 Most Profitable Stocks of the Last 12 Months