Ken Heebner’s Capital Growth Management’s Portfolio: 5 Dividend Stock Picks

1. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holders: 26
Capital Growth Management’s Stake Value: $32,964,000
Dividend Yield as of May 24: 11.31%

Rio Tinto Group (NYSE:RIO), an Anglo-Australian mining company, was the latest addition to Capital Growth’s portfolio. The hedge fund initiated its position in the company with shares worth roughly $33 million. The company represented 3.04% of Ken Heebner’s portfolio.

In February, Rio Tinto Group (NYSE:RIO) announced an ordinary dividend of $7.93 per share, with a special dividend of $2.47 per share. The stock’s dividend yield, as of May 24, stood at 11.31%.

At the end of Q1 2022, 26 hedge funds tracked by Insider Monkey were bullish on Rio Tinto Group (NYSE:RIO), up from 22 in the previous quarter. These stakes hold a consolidated value of over $2.5 billion.

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