In this article, we will take a look at some of the best cheap quarterly dividend stocks.
Dividend investing is a strategy popular with both beginners and experienced investors, centered on creating steady income through regular dividend payments. By relying on distributions from established companies, it provides a consistent cash flow that can supplement or eventually replace other income sources. Unlike growth investing, which emphasizes price appreciation, dividend investing combines income generation with the potential for long-term gains, making it attractive for those aiming for both stability and growth.
The advantages go beyond a predictable income stream. Dividends can act as a hedge against inflation, since many companies raise payouts at a pace that outstrips rising costs, helping preserve purchasing power. When dividends are reinvested, they can also accelerate portfolio growth through compounding, as the additional shares purchased generate their own future dividends.
Dividend-paying stocks often add resilience to a portfolio. They tend to be less volatile than stocks without dividends, offering some protection during market downturns. Companies that sustain or grow their dividends in challenging times also show financial strength, which can increase investor confidence. Given this, we will take a look at some of the best cheap quarterly dividend stocks.
Our Methodology
For this list, we screened for dividend companies with strong dividend histories and yields of at least 1%, as of September 23. From that list, we picked dividend stocks with forward P/E ratios below 16, as of September 23. The low price-to-earnings ratio shows that they are traded below their intrinsic value. The stocks are ranked in descending order of their P/E multiples.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
11. Cardinal Health, Inc. (NYSE:CAH)
Forward P/E as of September 23: 15.75
Cardinal Health, Inc. (NYSE:CAH) is a major distributor of branded and generic drugs, medical supplies, laboratory products, and supply chain services for healthcare providers. It serves more than 90% of hospitals in the US and has operations in over 30 countries.
Cardinal Health, Inc. (NYSE:CAH) is also well-regarded as a dividend payer, having raised its payout for 39 straight years, which makes it one of the best dividend stocks. With a payout ratio at only about one-fourth of this year’s expected earnings, there is significant room for further increases. Analysts anticipate earnings growth of nearly 11% annually over the next three to five years, which could support continued dividend expansion.
Cardinal Health, Inc. (NYSE:CAH) currently offers a quarterly dividend of $0.5107 per share and has a dividend yield of 1.32%, as of September 23.
10. Aflac Incorporated (NYSE:AFL)
Forward P/E as of September 23: 14.75
Aflac Incorporated (NYSE:AFL) is an American insurance company, and its main business focuses on supplemental health and life insurance. It is especially recognized for policies that provide cash benefits directly to policyholders, such as cancer, medical, and accident coverage in Japan, and accident, critical illness, dental, and disability insurance in the U.S. Japan is a vital market for the company, where it is the largest provider of cancer and medical insurance products, mainly through “third sector” plans, which refer to health-related coverage outside of government programs.
Aflac Incorporated (NYSE:AFL)’s long-term success is driven by its focus on product innovation, strong partnerships in Japan, and ongoing investments in technology and digital transformation in the US. These initiatives, along with disciplined capital allocation such as share repurchases and steady dividend growth, reinforce the company’s overall financial strength.
Aflac Incorporated (NYSE:AFL) is one of the best cheap quarterly dividend stocks, as the company has raised its payouts for 42 years in a row. The company offers a quarterly dividend of $0.58 per share and has a dividend yield of 2.14%, as of September 23.
9. Carlisle Companies Incorporated (NYSE:CSL)
Forward P/E as of September 23: 13.85
Carlisle Companies Incorporated (NYSE:CSL) designs and produces a variety of energy-efficient and sustainable products for both commercial and residential buildings. Its core divisions, Carlisle Construction Materials (CCM) and Carlisle Weatherproofing Technologies (CWT), provide roofing systems, architectural metals, insulation, and weatherproofing solutions.
Carlisle Companies Incorporated (NYSE:CSL) drives growth through energy-efficient innovation, strategic acquisitions, and execution under its Carlisle Operating System, while success also hinges on construction market trends, pricing, and integration of acquisitions.
On August 7, Carlisle Companies Incorporated (NYSE:CSL) declared a 10% hike in its quarterly dividend to $1.10 per share. This marked the company’s 49th consecutive year of dividend growth. As of September 23, the stock has a dividend yield of 1.58%.
8. Amgen Inc. (NASDAQ:AMGN)
Forward P/E as of September 23: 13.23
Amgen Inc. (NASDAQ:AMGN), a leading biotechnology company, offers investors a strong and diverse portfolio. It has more than two dozen brands, including several blockbuster drugs that each bring in over $1 billion in annual sales.
Amgen Inc. (NASDAQ:AMGN)’s medicines span multiple therapeutic areas. These include Repatha, which lowers the risk of heart attacks in certain patients; Evenity and Prolia, used for bone health in postmenopausal women and cancer patients; and Otezla, a treatment for plaque psoriasis.
This broad lineup supports steady revenue and earnings growth. In the second quarter, Amgen Inc. (NASDAQ:AMGN) reported revenue of $9.2 billion, up 9% from the prior year, while adjusted earnings per share rose 21% to $6.02. The company is also a solid dividend pick with 14 consecutive years of dividend growth under its belt. Currently, it offers a quarterly dividend of $2.38 per share and has a dividend yield of 3.32%, as of September 23.
7. Gilead Sciences, Inc. (NASDAQ:GILD)
Forward P/E as of September 23: 12.99
Gilead Sciences, Inc. (NASDAQ:GILD) is a California-based biopharmaceutical company that offers a wide range of products and services to its consumers. The biotech company develops innovative treatments for viral hepatitis, COVID-19, and cancer, while maintaining a strong pipeline of new drugs expected to support future sales growth. Gilead regularly strengthens its portfolio through acquisitions of early-stage drugmakers, such as its $350 million agreement to acquire Interius BioTherapeutics in August 2025.
Gilead Sciences, Inc. (NASDAQ:GILD) is also known for paying one of the more appealing dividends in the biotech industry. Since launching its dividend in 2015, the company has raised it every year. Its well-established HIV franchise continues to serve as the foundation of its business.
Currently, Gilead Sciences, Inc. (NASDAQ:GILD) offers a quarterly dividend of $0.79 per share and has a dividend yield of 2.76%, as of September 23.
6. Archer-Daniels-Midland Company (NYSE:ADM)
Forward P/E as of September 23: 12.95
Archer-Daniels-Midland Company (NYSE: ADM) is a global leader in agricultural processing and trading, specializing in food ingredients, animal feed, and biofuels. Its core operations center on managing the agricultural supply chain worldwide, including sourcing, merchandising, transporting, and storing raw materials. This role is essential to keeping ADM’s vast global network stable, even when markets are disrupted by geopolitical or environmental challenges.
In recent years, Archer-Daniels-Midland Company (NYSE:ADM) has broadened its focus to include nutrition and sustainable products, aiming to benefit from rising demand for healthier and more eco-friendly food choices. The company has also advanced its sustainability goals through initiatives like “Strive 35,” which seeks to reduce greenhouse gas emissions and energy intensity by 2035.
Archer-Daniels-Midland Company (NYSE:ADM) is also a solid dividend company. Currently, it offers a quarterly dividend of $0.51 per share and has a dividend yield of 3.36%, as of September 23. The company has been making regular payouts to shareholders for the past 90 years and has raised its dividends for 52 consecutive years, which makes it one of the best cheap quarterly dividend stocks.
5. Bank of America Corporation (NYSE:BAC)
Forward P/E as of September 23: 12.21
Bank of America Corporation (NYSE:BAC) is one of the largest consumer banks in the US, with a broad presence across commercial and investment banking, wealth management, and global markets. Its operations include retail branches, digital platforms, credit cards, lending services, and securities trading, serving both individual customers and large corporations.
Bank of America Corporation (NYSE:BAC)’s strategy emphasizes strict regulatory compliance, advanced technology adoption, effective risk management, and strong human capital to deliver client service and oversee operations. Its growth relies on building deeper client relationships, expanding digital engagement, and maintaining a balance between profitability and risk management. Consistent revenue generation and solid capital ratios remain essential, particularly as the bank navigates complex regulations and rising competition from both traditional institutions and fintech challengers.
Warren Buffett’s favorite, Bank of America Corporation (NYSE:BAC) has been increasing its dividends for the past 11 consecutive years. The company’s quarterly dividend comes in at $0.28 per share and has a dividend yield of 2.17%, as of September 23.
4. VICI Properties Inc. (NYSE:VICI)
Forward P/E as of September 23: 10.87
VICI Properties Inc. (NYSE:VICI) is an American real estate investment trust company that focuses on investing in premier casino, hospitality, wellness, entertainment, and leisure destinations. Its portfolio is largely structured around triple-net leases (NNN) with very long terms, averaging 40 years. Under this arrangement, tenants are responsible for all property-related costs, including maintenance, taxes, and insurance.
Many of these leases include rent escalation provisions tied to inflation, covering 42% of leases this year and expected to reach 90% by 2035. This setup allows VICI Properties Inc. (NYSE:VICI) to generate highly reliable and steadily increasing rental income, with same-store rents rising by an average of 1.7% this year.
On September 4, VICI Properties Inc. (NYSE:VICI) declared a 4% hike in its quarterly dividend to $0.45 per share. Through this increase, the company stretched its dividend growth streak to eight years, which makes VICI one of the best cheap quarterly dividend stocks. The stock supports a dividend yield of 5.64%, as of September 23.
3. M&T Bank Corporation (NYSE:MTB)
Forward P/E as of September 23: 10.68
M&T Bank Corporation (NYSE:MTB) is a regional lender with operations across several states, holding a strong position in community, commercial, and retail banking. Its offerings include traditional services such as mortgage lending, commercial and industrial loans, and consumer finance, along with fee-based products like wealth management, trust, and mortgage banking.
M&T Bank Corporation (NYSE:MTB)’s recent priorities center on regulatory compliance, disciplined capital and liquidity management, risk oversight, and growing fee-based income. It aims to uphold strong asset quality, use capital efficiently, and stand out through community banking and tailored service. Its long-term performance relies on balancing compliance requirements, maintaining financial stability, managing risks, expanding customer relationships, and adapting to shifting economic conditions.
M&T Bank Corporation (NYSE:MTB)’s dividend history makes it an appealing option for income investors. On August 20, the company declared an 11% hike in its quarterly dividend to $1.50 per share. This marked the company’s ninth consecutive year of dividend growth. As of September 23, the stock has a dividend yield of 2.99%.
2. National Fuel Gas Company (NYSE:NFG)
Forward P/E as of September 23: 10.54
National Fuel Gas Company (NYSE:NFG) may be a relatively small utility, but it stands out because its operations cover the full natural gas value chain. The stock has surged by nearly 46% since the start of 2025.
Traditionally, utilities are seen as among the safest investments, but National Fuel Gas Company (NYSE:NFG) is different since it participates in the upstream, midstream, and downstream sides of the business. Most energy firms specialize in just one area, or at most two, while only the largest players typically span all three, and they often mix oil into their portfolios as well. This makes NFG a distinct and focused way for investors to gain exposure to natural gas.
National Fuel Gas Company (NYSE:NFG) is a strong dividend stock that has been grabbing investors’ attention for so long. On September 11, the company declared a quarterly dividend of $0.535 per share, which was in line with its previous dividend. Overall, it has raised its payouts for 55 consecutive years. The stock has a dividend yield of 2.39%, as of September 23.
1. General Motors Company (NYSE:GM)
Forward P/E as of September 23: 6.03
General Motors Company (NYSE:GM) is a global automaker that designs, builds, and sells vehicles under brands like Chevrolet, GMC, Cadillac, and Buick. Alongside its core gas-powered models, it is investing substantially in electric vehicles and driver-assistance technologies. The company also operates GM Financial, which provides auto financing services.
In recent years, General Motors Company (NYSE:GM) has leaned heavily on share repurchases, with its stock trading at just eight times earnings. The automaker has consistently funneled strong free cash flow into buybacks, convinced its shares are undervalued. This approach has helped cut down its share count and lift earnings per share.
In addition, General Motors Company (NYSE:GM) is also returning value to shareholders through dividends. The company has paid uninterrupted dividends to shareholders since 2014. Currently, it offers a quarterly dividend of $0.15 per share and has a dividend yield of 1.02%, as of September 23.
While we acknowledge the potential of GM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GM and that has 100x upside potential, check out our report about this cheapest AI stock.
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