Dividend Challengers List Ranked By Yield: Top 10

8. Medifast, Inc. (NYSE:MED)

Dividend Yield as of February 3: 5.70%

Medifast, Inc. (NYSE:MED) is a Maryland-based marketing company that specializes in weight loss and health-related products. On December 8, the company declared a quarterly dividend of $1.64 per share, which fell in line with its previous dividend. It has been raising its dividends every year since 2015. The stock’s dividend yield on February 3 came in at 5.70%.

In the third quarter of 2022, Medifast, Inc. (NYSE:MED) reported revenue of $390.4 million, down 5.6% from the same period last year. The company’s net income amounted to $36.2 million and it had roughly $70 million in cash and cash equivalents at the end of the quarter.

At the end of Q3 2022, 18 hedge funds tracked by Insider Monkey owned stakes in Medifast, Inc. (NYSE:MED), growing from 14 in the previous quarter. These stakes have a total value of over $120.1 million.