10 Best Dividend Penny Stocks to Buy According to Analysts

8. Nokia Oyj (NYSE:NOK)

Forward Dividend Yield as of August 23, 2025: 3.62%

Upside potential: 26.45%

Deutsche Bank AG, a German investment bank and financial services company, has raised its stake in Nokia Oyj (NYSE:NOK) by 129.4% in the first quarter. Following the purchase of 4,835,005 shares, the bank now owns approximately 0.16% of NOK, an investment valued at $45,179,000.

Many believe the company’s case is that of a buried treasure. We have witnessed the stock’s downfall, but now Nokia Oyj (NYSE:NOK) has reinvented itself as a leader in the telecommunications infrastructure, leaving its phone business far behind. From the global rollout of 5G and AI automation to 6G research and private wireless networks, the company has expanded into numerous growth catalysts, which is what makes it so interesting.

Just recently, Nokia Oyj (NYSE:NOK) announced its collaboration with ProRail, a government organization responsible for the national railway network infrastructure, to implement a cloud-native GSM-R core system.

Nokia Oyj (NYSE:NOK), based in Finland, is a provider of mobile, fixed, and cloud network solutions. Incorporated in 1865, the company operates in four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies.