5 Best November Dividend Stocks To Buy

1. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Shareholders: 82

November 23 Dividend Payout: $0.51

Topping the list of best dividend stocks to buy in November is another investment bank, Citigroup Inc. (NYSE:C). Citigroup has one of the most intriguing dividends on the market right now, with a yield that has reached 4.42% coupled with an outstanding five-year CAGR of 20.59%. Should that growth rate persist, the stock’s yield could be pushing 7% within a couple of years barring a subsequent equivalent rise in the stock price (which of course would also be fine for shareholders).

Citigroup’s transformation plan under new CEO Jane Fraser is well underway, with as many as 10,000 employees working on it. The company has sold or is in the process of several of its international consumer banking units, with the intention of focusing on its wealth management, payments, and investment banking operations. The company expects to be able to deliver a return of tangible equity of between 11% and 12% in the years to come, compared to an 8.2% mark in Q3 of this year.

Citigroup Inc. (NYSE:C) was the 29^th most popular stock among hedge funds during Q2, though ownership of the investment banking giant remains well below historical levels. Warren Buffett maintained the largest position in C during Q2, owning a sizable 55.2 million shares worth $2.54 billion at the end of the quarter.

The Diamond Hill Long-Short Fund shared its thoughts on Citigroup Inc. (NYSE:C)’s Q1 share price drop (they fell by 16% during the quarter) in its Q1 2022 investor letter:

“Shares of Citigroup declined in the quarter as investors became increasingly negative on capital markets activity. The company is also continuing to divest certain consumer banking geographies which may be dilutive to earnings in the near term.”

For more of the latest companies worth considering for your portfolio, check out the 15 Biggest Indian Companies by Market Cap and 15 Biggest Internet Companies in the World.

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