8 Dividend Giants with Lowest Short Interest in 2024

5. Amcor plc (NYSE:AMCR)

Short % of Float as of September 22: 1.61%

Amcor plc (NYSE:AMCR) is a global multinational packaging company that offers a wide range of related products for different industries. The company has demonstrated global resilience throughout its history. Founded in the 1860s as Australian Paper Manufacturers, it has evolved significantly over the years. In 2000, the company shifted its focus by selling off its paper goods business. Since then, Amcor has grown through a series of strategic acquisitions, including the $7 billion acquisition of Bemis in 2019, which helped establish its leadership in the global packaging industry.

Amcor plc (NYSE:AMCR) ended fiscal 2024 on a strong note, with its core business showing continued sequential improvement in both volume and earnings growth. Fourth-quarter adjusted EPS rose by 9%, surpassing the company’s April expectations. Volumes saw year-over-year growth as customer demand strengthened, while the team remained focused on cost management, leading to significant margin expansion. In addition, annual adjusted free cash flow was at the high end of the projected range, increasing by 12% compared to the previous year. In fiscal Q4 2024, the company reported revenue of $3.54 billion, which fell slightly by 3.7% from the same period last year.

Amcor plc (NYSE:AMCR) is a strong dividend payer as the company has remained committed to its shareholder obligation over the years. In FY24, it returned $750 million to investors through dividends and share repurchases. The company’s ability to make dividend payments was supported by its robust free cash flow, which amounted to $952 million, up 12% from last year. It currently offers a quarterly dividend of $0.125 per share and has a dividend yield of 4.51%, as of September 22. It is one of the best dividend giants as the company maintains a 40-year streak of consistent dividend growth.

The number of hedge funds tracked by Insider Monkey holding stakes in Amcor plc (NYSE:AMCR) grew to 21 in Q2 2024, from 17 in the previous quarter. These stakes have a total value of over $115 million.