11 Best Affordable Dividend Stocks to Buy Now

7. The J. M. Smucker Company (NYSE:SJM)

Forward P/E as of October 2: 12.18

The J. M. Smucker Company (NYSE:SJM) is a producer and marketer of food and beverages, headquartered in Ohio. The company is under the radar for many dividend investors, but it is starting to gain some traction due to its improving balance sheet and track record of paying reliable dividends to shareholders.

The J. M. Smucker Company (NYSE:SJM) raised its free cash flow forecast for fiscal year 2026 by $100 million. The business now anticipates producing $975 million in free cash flow for the year, which it intends to use to pay down debt and bolster its balance sheet.

The J. M. Smucker Company (NYSE:SJM) raised its quarterly dividend by 1.9% on July 16. It was the company’s 24th straight year of dividend growth. The company’s quarterly dividend now comes in at $1.10 per share and has a dividend yield of 4.07%, as of October 2.