5 Cheapest Dividend Aristocrats Right Now

In this article, we discuss 5 cheapest dividend aristocrat stocks to buy right now. If you want to read our detailed analysis of dividend aristocrats and the performance of dividend growers over the years, go directly to read 13 Cheapest Dividend Aristocrats Right Now.

5. Chevron Corporation (NYSE:CVX)

P/E Ratio as of January 29: 11.07

Chevron Corporation (NYSE:CVX) is a multinational energy corporation engaged in various aspects of the energy sector. The company offers a quarterly dividend of $1.51 per share and has a dividend yield of 4.10%, as of January 29. It returned nearly $3 billion to shareholders through dividends in the third quarter of 2023, which shows that the company’s cash generation is strong. Moreover, it has been increasing its dividends for the past 36 consecutive years, which places CVX on our list of the best dividend aristocrat stocks.

Of the 910 hedge funds tracked by Insider Monkey at the end of Q3 2023, 72 hedge funds owned stakes in Chevron Corporation (NYSE:CVX) , down slightly from 73 in the previous quarter. These stakes are collectively valued at over $21.4 billion.

4. Cincinnati Financial Corporation (NASDAQ:CINF)

P/E Ratio as of January 29: 10.6

Cincinnati Financial Corporation (NASDAQ:CINF) is an American company that primarily operates in the property and casualty insurance sector. The company provides a range of insurance products for both personal and commercial clients. On January 26, the company declared an 8% hike in its quarterly dividend to $0.81 per share. This marked the company’s 63rd consecutive year of dividend growth, which makes CINF one of the best dividend aristocrat stocks on our list. The stock’s dividend yield came in at 2.69%, as of January 29.

At the end of Q3 2023, 31 hedge funds held stakes in Cincinnati Financial Corporation (NASDAQ:CINF), up from 26 a quarter earlier, as per Insider Monkey’s database. The overall value of these stakes is nearly $420 million.

3. Exxon Mobil Corporation (NYSE:XOM)

P/E Ratio as of January 29: 10.2

An American energy company, Exxon Mobil Corporation (NYSE:XOM) is next on our list of the best dividend aristocrat stocks. In 2023, the company announced a 41st consecutive annual dividend increase and it currently pays a quarterly dividend of $0.95 per share. The stock’s dividend yield on January 29 came in at 3.71%.

The number of hedge funds tracked by Insider Monkey owning stakes in Exxon Mobil Corporation (NYSE:XOM) grew to 79 in Q3 2023, from 71 in the preceding quarter. These stakes are worth over $4.4 billion in total. First Eagle Investment Management owned over 13 million XOM shares, becoming the company’s largest stakeholder in Q3.

2. Nucor Corporation (NYSE:NUE)

P/E Ratio as of January 29: 8.86

Nucor Corporation (NYSE:NUE) is a leading American steel and steel products manufacturer. The company operates multiple steel mills across the US, manufacturing a variety of steel products used in construction, infrastructure, automotive, energy, and other industries. The company holds a 51-year track record of consistent dividend growth and currently offers a quarterly dividend of $0.54 per share. With a dividend yield of 1.23%, NUE is one of the best dividend aristocrat stocks on our list.

Nucor Corporation (NYSE:NUE) was a part of 33 hedge fund portfolios at the end of Q3 2023, according to Insider Monkey’s database. The stakes held by these hedge funds are collectively valued at over $336.4 million.

1. Archer-Daniels-Midland Company (NYSE:ADM)

P/E Ratio as of January 29: 7.24

Archer-Daniels-Midland Company (NYSE:ADM) tops our list of the best dividend aristocrat stocks. Recently, the company announced its 51st consecutive annual dividend hike. It currently offers a quarterly dividend of $0.50 per share and has a dividend yield of 3.75%, as of January 29.

As of the end of Q3 2023, 37 hedge funds in Insider Monkey’s database reported holding stakes in Archer-Daniels-Midland Company (NYSE:ADM), up from 32 in the preceding quarter. The total value of these stakes is over $769 million.

You can also take a look at 12 Best Foreign Dividend Stocks To Invest In and 25 Best Dividend Growth Stocks to Buy and Hold in 2024