5 Companies that Just Started Paying Dividends

2. VAALCO Energy, Inc. (NYSE:EGY)

Dividend Yield as of March 2: 5.18%

VAALCO Energy, Inc. (NYSE:EGY) is an American company that is engaged in the exploration of hydrocarbons. Stifel initiated its coverage on the stock with a Buy rating in March with a 790 GBP price target. The firm sees near-term growth in the company’s business through its investments.

VAALCO Energy, Inc. (NYSE:EGY) started paying dividends in November 2021 with a per-share dividend of $0.0325 every quarter. On February 14, the company declared a 92% hike in its quarterly dividend to $0.0625 per share, which was its first dividend raise since the start of its dividend policy. The company’s shares boast a yield of 5.18%, as of March 2.

At the end of December 2022, 17 hedge funds in Insider Monkey’s database reported owning stakes in VAALCO Energy, Inc. (NYSE:EGY), up from 13 in the previous quarter. The collective value of these stakes is over $33 million.