In this article, we discuss 5 stocks that paid special dividends in 2023. If you want to read our detailed analysis of dividend stocks and their past performance, go directly to read 10 Stocks that Paid Special Dividends in 2023.
5. Equinor ASA (NYSE:EQNR)
Number of Hedge Fund Holders: 21
Equinor ASA (NYSE:EQNR) is a Norway-based petroleum refining company. The company has been making regular dividend payments to shareholders since 2002 and currently pays a quarterly dividend of $0.30 per share. On May 22, the company also announced a special dividend of $0.60 per share. It is among the best special dividend stocks on our list as this was the company’s sixth consecutive quarter of paying special dividends. As of June 21, the stock has a dividend yield of 10.97%.
The number of hedge funds tracked by Insider Monkey owning stakes in Equinor ASA (NYSE:EQNR) grew to 21 in Q1 2023, from 16 in the previous quarter. These stakes have a collective value of over $484.6 million. With nearly 2 million shares, Citadel Investment Group was the company’s leading stakeholder in Q1.
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4. Ford Motor Company (NYSE:F)
Number of Hedge Fund Holders: 38
Ford Motor Company (NYSE:F) is a Michigan-based automobile manufacturer that also manufactures commercial vehicles. The company has been paying regular dividends to shareholders since it restored its dividend policy in 2011. It currently pays a quarterly dividend of $0.15 per share and has a dividend yield of 4.28%, as of June 21.
On February 2, Ford Motor Company (NYSE:F) declared a special dividend of $0.65 per share, in addition to its regular dividend of $0.15 per share.
At the end of Q1 2023, 38 hedge funds tracked by Insider Monkey owned stakes in Ford Motor Company (NYSE:F), compared with 40 in the previous quarter. These stakes are collectively valued at over $951.4 million.
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3. The Mosaic Company (NYSE:MOS)
Number of Hedge Fund Holders: 40
The Mosaic Company (NYSE:MOS) is one of the world’s leading producers of potash and phosphate. The Florida-based company also collects urea for fertilizers. In June, BofA maintained its Buy rating on the stock with a $50 price target, highlighting the company’s overall performance.
The Mosaic Company (NYSE:MOS) is one of the best special dividend stocks on our list as it has been raising its dividends consistently for the past four years. The company offers a quarterly dividend of $0.20 per share and has a dividend yield of 2.25%, as of June 21. Moreover, it announced a per-share special dividend of $0.25 in February this year.
As of the close of Q1 2023, 40 hedge funds in Insider Monkey’s database presented a bullish stance on The Mosaic Company (NYSE:MOS). The stakes owned by these funds are collectively worth over $462.5 million.
White Brook Capital made the following comment about The Mosaic Company (NYSE:MOS) in its Q1 2023 investor letter:
“The Mosaic Company (NYSE:MOS): Despite favorable midterm fertilizer dynamics, Mosaic (MOS) performed worse than expected during the quarter. Significantly, the Company began to rally in the last days of the quarter after it preannounced production at the low end of the guidance for the first quarter when market fears were for an even worse outcome. Given March weather, particularly in the northern United States, where a significant snow pack continued to cover farmland (as of the first days of April), I expect their 1stquarter earnings call will speak to significant second-quarter demand, particularly as the weather was more favorable for fertilizer usage in early April. Prices during the second week of April for fertilizers broadly also have begun to lessen their decline despite a continued rapid decline in other feedstock commodities.
The stock has been driven by concern about destroyed 2023 demand that I believe, given the state of the world’s depleted fields, issues that demand can no longer be destroyed, only delayed, and even that may not be necessary given the rapid improvement of the US’s northern grain basket and the solid fundamentals in Brazil. The Company continues to trade for a very cheap valuation even though it generates strong free cash flow, returns that cash flow to shareholders, and is under levered. We continue to hold our position.”
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2. Arch Resources, Inc. (NYSE:ARCH)
Number of Hedge Fund Holders: 42
Arch Resources, Inc. (NYSE:ARCH) is an American coal mining company, based in Missouri. It is one of the leading processors of metallurgical products in the US for the global steel industry. On April 27, the company declared a quarterly dividend of $0.25 per share, which was in line with its previous dividend. The stock’s dividend yield on June 21 came in at 0.84%. It also announced a special dividend of $2.20 per share and has been paying supplemental dividends to shareholders consecutively for the past five quarters, which makes it one of the best special dividend stocks on our list.
Arch Resources, Inc. (NYSE:ARCH) experienced a positive hedge fund sentiment in Q1 2023, as 42 hedge funds tracked by Insider Monkey reported having stakes in the company, up from 34 in the previous quarter. The total value of these stakes is roughly $480 million.
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1. Albertsons Companies, Inc. (NYSE:ACI)
Number of Hedge Fund Holders: 61
Albertsons Companies, Inc. (NYSE:ACI) is one of the largest food and drug retailers in the US. The company and Kroger are close to certifying compliance with the Federal Trade Commission’s second request for their proposed merger in the grocery store industry. It is expected that they will complete the certification during the third quarter or early fall for the planned $24.6 billion acquisition of Albertsons (ACI) by Kroger.
On April 11, Albertsons Companies, Inc. (NYSE:ACI) declared a quarterly dividend of $0.12 per share, which was in line with its previous dividend. In January this year, the company also declared a special dividend of $6.85 per share. The stock’s dividend yield on June 21 came in at 2.25%.
At the end of Q1, 61 hedge funds in Insider Monkey’s database owned stakes in Albertsons Companies, Inc. (NYSE:ACI), growing from 39 in the previous quarter. Their collective stake value is roughly $4.6 billion.
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