5 Cheap Dividend Stocks with High Yields

In this article, we discuss 5 cheap dividend stocks with high yields. If you want to read our detailed analysis of dividend stocks and their performance in the past, go directly to read 10 Cheap Dividend Stocks with High Yields. 

5. Enterprise Products Partners L.P. (NYSE:EPD)

P/E Ratio as of December 7: 10.70
Dividend Yield as of December 7: 7.60%

Enterprise Products Partners L.P. (NYSE:EPD) is an American midstream energy company that operates across various aspects of the energy value chain. The company’s quarterly dividend currently stands at $0.50 per share and has a dividend yield of 7.60%, as of December 7. It is one of the best dividend stocks on our list as the company has been raising its dividends for 24 consecutive years.

The number of hedge funds in Insider Monkey’s database owning stakes in Enterprise Products Partners L.P. (NYSE:EPD) stood at 25 in Q3 2023, which remained the same as the previous quarter. These stakes have a total value of over $325.2 million.

4. Washington Trust Bancorp, Inc. (NASDAQ:WASH)

P/E Ratio as of December 7: 9.66
Dividend Yield as of December 7: 7.70%

Washington Trust Bancorp, Inc. (NASDAQ:WASH) is an American bank holding company that provides a range of financial services, including commercial banking, wealth management, investment management, and trust services. It is one of the best dividend stocks on our list as the company maintains a 12-year streak of consistent dividend growth. The company offers a quarterly dividend of $0.56 per share and has a dividend yield of 7.70%, as of December 7.

At the end of the third quarter of 2023, 7 hedge funds tracked by Insider Monkey reported holding stakes in Washington Trust Bancorp, Inc. (NASDAQ:WASH), up from 6 in the preceding quarter. The overall value of these stakes is roughly $19 million.

3. Barings BDC, Inc. (NYSE:BBDC)

P/E Ratio as of December 7: 9.64
Dividend Yield as of December 7: 12.00%

Barings BDC, Inc. (NYSE:BBDC) is a business development company that primarily focuses on providing financing solutions to middle-market companies. The company has raised its dividends every year since 2018 and it offers a quarterly dividend of $0.26 per share. As of December 7, the stock’s dividend yield came in at 12%.

As of the end of September 2023, 13 hedge funds owned stakes in Barings BDC, Inc. (NYSE:BBDC), up from 12 in the previous quarter, as per Insider Monkey’s database. The collective value of these stakes is over $46.6 million. With over 2.4 million shares, Callodine Capital Management was the company’s leading stakeholder in Q3.

2. Altria Group, Inc. (NYSE:MO)

P/E Ratio as of December 7: 8.45
Dividend Yield as of December 7: 9.46%

Altria Group, Inc. (NYSE:MO) is an American multinational tobacco company. The company has been growing its dividends for the past 54 consecutive years and it pays a quarterly dividend of $0.98 per share. The stock’s dividend yield on December 7 came in at 9.46%.

Of the 910 hedge funds tracked by Insider Monkey at the end of Q3 2023, 40 funds owned investments in Altria Group, Inc. (NYSE:MO). The total value of stakes owned by these hedge funds is over $565 million.

1. Verizon Communications Inc. (NYSE:VZ)

P/E Ratio as of December 7: 7.76
Dividend Yield as of December 7: 6.89%

Verizon Communications Inc. (NYSE:VZ) tops our list of the best dividend stocks with high yields. The multinational telecommunications company has raised its payouts for 17 years in a row and it currently offers a quarterly dividend of $0.665 per share. The stock has a dividend yield of 6.89%, as of December 7.

The number of hedge funds tracked by Insider Monkey owning stakes in Verizon Communications Inc. (NYSE:VZ) jumped to 61 in Q3 2023, from 53 in the previous quarter. The collective value of these stakes is roughly $1.4 billion.

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