13 Best Dividend Stocks to Buy Under $20

8. Macy’s, Inc. (NYSE:M)

Share Price as of July 18: $11.95

Macy’s, Inc. (NYSE:M) is one of the best dividend stocks under $20. The company experienced some growth in the years immediately after the COVID-19 pandemic, but its performance has slowed more recently, with revenue slipping over the past two years. For 2025, the company’s first-quarter results topped expectations, though the broader forecast fell short of market hopes. Adjusted earnings were reported at $0.16 per share, slightly ahead of the projected $0.14, while total revenue reached $4.60 billion, exceeding the anticipated $4.50 billion.

Macy’s, Inc. (NYSE:M) reported a 2.0% decline in comparable sales on an owned basis and a 1.2% drop on an owned-plus-licensed-plus-marketplace basis. Despite the declines, the results exceeded the company’s earlier guidance, supported by stronger-than-anticipated performance across all three of its nameplates. The company also made progress on its Bold New Chapter strategy during the quarter, expanding key initiatives that enhanced the customer experience and played a role in the better-than-expected results.

Macy’s, Inc. (NYSE:M) has remained committed to its shareholder obligation. In the most recent quarter, the company returned $152 million to shareholders, including $51 million in dividends. In addition, it has raised its dividends for four consecutive years. It offers a quarterly dividend of $0.1824 per share and has a dividend yield of 5.99%, as of July 21.