7 Best Debt Free Dividend Stocks To Buy

4. FinVolution Group (NYSE:FINV)

Dividend Yield as of August 16: 4.16%

Market Cap as of August 16: $1.48 billion 

Enterprise Value as of August 16: $296.8 million 

A Chinese fintech platform, FinVolution Group (NYSE:FINV) ranks fourth on our list of the best debt-free stocks that pay dividends. The company offers a wide range of related services, including credit risk assessment, loan transactions, and fraud detection. The stock is up over 18% since the start of 2024, benefitting from a steady increase in registered users across both Chinese and international markets. In the first quarter of 2024, it reported a substantial 49.7% growth in international registered users, reaching 26.8 million. The international markets continued to thrive, with transaction volume reaching RMB2.21 billion ($305.06 million), reflecting a 40.8% increase from the previous year. Additionally, the outstanding loan balance rose to RMB1.27 billion ($175.3 million), showing a 33.7% year-over-year growth. These figures underscore the company’s success in capitalizing on opportunities in various countries.

Demonstrating its commitment to providing ongoing value to shareholders, FinVolution Group (NYSE:FINV) invested $27.2 million in share buybacks during the first quarter of 2024. Since 2018, the company has returned a total of $632.2 million to shareholders through its capital return program, highlighting its consistent dedication to shareholder value.

FinVolution Group (NYSE:FINV), one of the best debt-free stocks, currently offers an annual dividend of $0.237 per share, having raised it by 10.2% this year. This marked the company’s fourth consecutive year of dividend growth. The stock’s dividend yield on August 16 came in at 4.16%.

FinVolution Group (NYSE:FINV) was a part of 8 hedge fund portfolios at the end of Q2 2024, compared with 11 in the previous quarter, as per Insider Monkey’s database. The stakes held by these hedge funds have a collective worth of over $22 million. Among these hedge funds, GLG Partners was the company’s leading stakeholder in Q2.