In this article, we will take a look at the 13 Companies that Just Started Paying Dividends.
The latest figures from S&P Dow Jones Indices show dividend growth didn’t stall in 2025, but it clearly slowed. Net dividends increased $46.4 billion for the year, which was a step down from the $53.3 billion increase in 2024. Looking back adds some perspective. Net dividends rose $36.5 billion in 2023, then climbed sharply to $68.2 billion in 2022 and $69.8 billion in 2021. The reminder of 2020 still lingers, as that year, net dividends fell $40.8 billion after 43 S&P 500 companies suspended payments during a period of deep uncertainty.
Over the 12 months ending December 2025, dividend increases totaled $59.3 billion- noticeably lower than the $71.4 billion recorded in the prior period. At the same time, dividend cuts became less common. Decreases fell to $12.9 billion, down from $18.1 billion in 2024.
The fourth quarter followed the same pattern. Companies announced 634 dividend increases in Q4 2025, essentially unchanged from the 635 reported a year earlier. Total dividend hikes reached $16.1 billion, up from $14.2 billion in Q4 2024. For the full year, 2,293 companies raised their dividends. That was fewer than the 2,450 increases seen in 2024, a sign that boards were choosing caution over aggressive payout growth.
Dividend growth remained muted but steady as the year wrapped up. Howard Silverblatt said companies were still careful about committing future cash. Uncertainty tied to tariff policy continued to weigh on decisions, shaping expectations around consumer spending, business investment, input costs, and the broader economy.
Many companies did raise dividends, but the increases were often modest. This was especially clear among firms that typically raise payouts once a year. Companies without a set schedule were more inclined to wait and see. Looking ahead, Silverblatt said clearer signals around tariffs and policy late in the quarter could push more companies to act. Still, stronger and longer-lasting dividend commitments would likely require firmer direction from policymakers.
He expects the first quarter of 2026 to be an active stretch for dividend increases, supported by record earnings and sales, and expectations for more records in 2026. Even so, he warned investors not to expect big jumps. Uncertainty remains part of the landscape, and policy direction can shift quickly. Dividend growth across the S&P 500 is still expected to land in the mid-single-digit range in 2026.
Given this, we will take a look at companies that just started paying dividends.
Photo by nathan dumlao on Unsplash
Our Methodology:
For this article, we manually searched for companies that announced new dividend programs in December 2024, with their initial dividend payments made in 2025. We considered hedge fund sentiment for those companies, as per Insider Monkey’s database of Q3 2025. The stocks were ranked according to hedge funds having stakes in them.
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 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
13. Zedge, Inc. (NYSEAMERICAN:ZDGE)
Number of Hedge Fund Holders: 7
Dividend Initiation Announcement: October 14, 2025
On October 14, Zedge, Inc. (NYSEAMERICAN:ZDGE) said its Board of Directors approved the launch of a quarterly cash dividend, adding a new layer to the company’s capital return plans. The decision is aimed at increasing shareholder value over time.
Starting a regular dividend reflects management’s confidence in the company’s long-term growth, steady free cash flow generation, and balance sheet strength. Over the past year, Zedge has already returned capital through share repurchases, buying back roughly $4 million of Class B shares as part of its $5 million authorization. The dividend represents the next step in that effort. The company offers a quarterly dividend of $0.016 per share and a dividend yield of 2.01%, as of January 29.
Management made it clear that shareholder returns are not coming at the cost of growth. The company continues to invest in product development and innovation. Recent launches, including Tapedeck and SynCat, point to that focus.
Zedge has also formed a Product Innovation Team centered on AI, vibe coding, and automation. The goal is to move faster when bringing new products to market. According to management, the company’s financial flexibility allows it to reward shareholders today while still funding initiatives that support future growth.
Zedge, Inc. (NYSEAMERICAN:ZDGE) operates digital marketplaces and interactive games. Its broader ecosystem includes offerings such as the Zedge Marketplace.
12. California BanCorp (NASDAQ:BCAL)
Number of Hedge Fund Holders: 8
Dividend Initiation Announcement: December 8, 2025
California BanCorp (NASDAQ:BCAL) reported its fourth-quarter 2025 results on January 28. The company earned $16.4 million during the quarter, equal to $0.50 per diluted share. It also continued returning capital, repurchasing 122,428 shares at an average price of $16.37. The total cost came to $2.0 million under its existing buyback program.
The board declared a quarterly dividend of $0.10 per common share, representing $3.3 million in total distributions. Tangible book value per share, a non-GAAP measure, stood at $13.79 at December 31, 2025. That marked an increase of $0.40 from the prior quarter.
Management described 2025 as a turning point for the company. A major factor was the successful integration of its 2024 merger, which expanded the bank’s presence across several key California markets. The bank reduced exposure to higher-risk loans, improved overall credit quality, and lowered its reliance on higher-cost brokered deposits. At the same time, it grew core deposits, helping to bring funding costs down.
California BanCorp added experienced bankers to its Northern California team and continues to prioritize organic loan and deposit growth. Management said it remains confident in the company’s long-term outlook.
California BanCorp (NASDAQ:BCAL) is the holding company for California Bank of Commerce, N.A. The bank serves individuals, professionals, and small to mid-sized businesses. It operates roughly 14 branch offices and four loan production offices across Northern and Southern California.
11. Natural Gas Services Group, Inc. (NYSE:NGS)
Number of Hedge Fund Holders: 11
Dividend Initiation Announcement: July 30, 2025
On July 30, Natural Gas Services Group, Inc. (NYSE:NGS) boosted investor confidence as the board approved the company’s first quarterly cash dividend, set at $0.10 per common share. On an annual basis, that equals $0.40 per share. For shareholders who have followed the company for years, the move stood out as a clear shift in how NGS plans to return capital.
Justin Jacobs, Chief Executive Officer of NGS, said the decision marked an important moment for the company. He pointed to strong financial results and management’s confidence in the long-term outlook of the business. In his view, the dividend reflects a commitment to building value that lasts, not just delivering short-term performance.
Jacobs also said the timing was intentional. The company continues to grow, gain market share, and operate with low leverage. Its balance sheet remains a key strength, one he described as among the best in the industry. Management sees this initial dividend as the first step in a broader capital return strategy, with room to expand as the business scales and continues to outpace competitors.
That message carried into the fall. When NGS reported third-quarter earnings in November, the company raised its quarterly cash dividend to $0.11 per share, up from $0.10 in the previous quarter. The increase reinforced management’s confidence in cash generation and its disciplined approach to capital allocation.
Natural Gas Services Group, Inc. (NYSE:NGS) provides natural gas compression equipment, technology, and services to the energy industry.
10. OneSpan Inc. (NASDAQ:OSPN)
Number of Hedge Fund Holders: 16
Dividend Initiation Announcement: December 16, 2024
On January 12, OneSpan Inc. (NASDAQ:OSPN) said it signed a definitive agreement to acquire Build38, a company known for its work in next-generation mobile application protection. The deal is meant to deepen OneSpan’s investment in advanced mobile security and strengthen how it protects applications used on phones and tablets.
The acquisition is expected to expand OneSpan’s App Shielding offering by adding SDK-based security tools that work inside the app and connect with cloud and AI technologies. For businesses, this means stronger protection against the growing number of attacks aimed at mobile apps. It also adds better visibility into what is happening on the devices where those apps run, something security teams often say they need more of.
OneSpan plans to integrate Build38’s SDK-based approach to Runtime Application Self-Protection, or RASP, into its mobile security portfolio. The goal is deeper in-app protection against attacks that target both applications and devices. In practical terms, this should lead to a safer and more secure digital experience for customers using mobile services every day.
Build38 was named a Sample Vendor in the Gartner® Hype Cycle™ for Application Security, 2025. The company is also a leading provider in Europe for securing mobile identities, including EUDI wallets, healthcare applications, and citizen services. Its experience in regulated industries and its compliance with strict global certifications fit closely with OneSpan’s strategy. Together, the two companies aim to raise the standard for trust and innovation in mobile identity protection.
The transaction is expected to close by March 2026, pending regulatory approvals and other customary closing conditions.
The company offers a quarterly dividend of $0.12 per share and has a dividend yield of 4.12%, as of January 29.
OneSpan Inc. (NASDAQ:OSPN) provides secure authentication, identity, electronic signature, and digital workflow solutions. Its products help protect and automate digital transactions and agreements, supporting everything from simple customer interactions to complex workflows that require higher levels of security.
9. ePlus inc. (NASDAQ:PLUS)
Number of Hedge Fund Holders: 19
Dividend Initiation Announcement: August 7, 2025
On August 7, ePlus inc. (NASDAQ:PLUS) said its Board of Directors approved the company’s first quarterly dividend. The initial cash payout was set at $0.25 per common share, marking a new chapter in how the company returns capital to shareholders.
Mark Marron, president and CEO of ePlus, said the decision reflects a continued focus on building shareholder value through a disciplined and balanced approach to capital allocation. He pointed to the company’s strategic initiatives as a sign of confidence in its growth outlook and noted that the new dividend is supported by ePlus’s ability to consistently generate cash.
Marron also said the company plans to keep its share repurchase program in place. At the same time, ePlus intends to remain open to reinvesting in the business through organic initiatives and selective mergers and acquisitions. The aim, he said, is to strengthen the company over the long term while enhancing shareholder value.
Since going public in November 1996, ePlus has steadily expanded its footprint and capabilities. A series of acquisitions helped extend both its geographic reach and its technology offerings. Over time, that approach has reshaped the business.
Today, ePlus operates through three subsidiaries organized into two primary segments. The Financing Business Unit, under ePlus Group, Inc., focuses on leasing and business process outsourcing services. The Technology Sales Business Unit brings together ePlus Technology, Inc.’s IT sales and services with ePlus Systems, Inc.’s software business.
ePlus inc. (NASDAQ:PLUS) provides technology solutions and services designed to support digital transformation. Its offerings span artificial intelligence, security, cloud and data center, networking, and collaboration, along with managed, consultative, and professional services. The company works with organizations across a range of industries as they address evolving business challenges.
8. G-III Apparel Group, Ltd. (NASDAQ:GIII)
Number of Hedge Fund Holders: 20
Dividend Initiation Announcement: December 9, 2025
On December 9, G-III Apparel Group, Ltd. (NASDAQ:GIII) approved a quarterly dividend, setting the payout at $0.10 per share. As of January 29, that translated into a dividend yield of 1.39%. For the company, it was a clear signal that returning capital to shareholders has become part of the broader strategy.
Morris Goldfarb, chairman and chief executive officer of G-III, said the company delivered a strong third quarter. Gross margins and earnings came in well ahead of expectations. He pointed to the strength of the company’s forward-looking brand portfolio, with owned brands playing a central role. A higher mix of full-price sales helped results, as did steps taken to manage the impact of tariffs. Goldfarb said it has been encouraging to see the company’s brands continue to connect with consumers, with steady demand carrying into the holiday season.
Looking ahead, Goldfarb said G-III is raising its fiscal 2026 earnings guidance to reflect the better-than-expected third-quarter performance. At the same time, management is staying realistic about uncertainty tied to consumer spending and the risk of margin pressure from tariffs. He credited the company’s teams for staying focused on strategic priorities and delivering solid profitability.
Management believes the company’s brand portfolio and operating model put it in a good position to meet its fiscal 2026 goals. Goldfarb also said G-III’s strong financial footing allows it to return capital through the new dividend, while still keeping flexibility to invest in strategic initiatives that support profitable growth.
G-III Apparel Group, Ltd. (NASDAQ:GIII) is a global fashion company with operations spanning design, sourcing, distribution, and marketing. It owns and licenses more than 30 brands, each with its own positioning, product focus, and consumer reach.
7. Orla Mining Ltd. (NYSEAMERICAN:ORLA)
Number of Hedge Fund Holders: 33
Dividend Initiation Announcement: December 3, 2025
On January 26, BMO Capital raised its price target on Orla Mining Ltd. (NYSEAMERICAN:ORLA) to C$30 from C$22 and kept an Outperform rating on the stock. The move reflected growing confidence in the company’s operating performance and outlook. That same day, Scotiabank also lifted its price target on Orla Mining, raising it to C$26.50 from C$21, while maintaining an Outperform rating.
Earlier, on January 20, Orla announced it had exceeded its revised annual production guidance. The company produced 300,620 ounces of gold in 2025, well above the revised range of 265,000 to 285,000 ounces. Orla said it expects full-year 2025 all-in sustaining costs to land within its updated guidance of $1,350 to $1,550 per ounce.
The balance sheet also drew attention. As of December 31, 2025, Orla reported cash of $420.8 million and debt of $385.9 million, leaving the company with a net cash position of $35.8 million. That level of flexibility matters, especially as the company continues to invest in growth.
In early December, Orla shared an update on exploration results at the Musselwhite Mine. Drilling confirmed that high-grade gold mineralization extends roughly two kilometers beyond current underground operations. The company reported significant gold mineralization intersected two kilometres down plunge of current operations, including 5.0 metres at 5.57 g/t Au, including 1.0 metre at 8.79 g/t Au (25-NSD03-002W).
Orla Mining Ltd. (NYSEAMERICAN:ORLA) is a Canada-based company focused on acquiring, developing, and operating mineral properties. Its portfolio includes three material projects, made up of two operating mines and one development-stage project, all of which are 100% owned.
6. Visteon Corporation (NASDAQ:VC)
Number of Hedge Fund Holders: 33
Dividend Initiation Announcement: July 22, 2025
On January 23, Barclays lowered its price recommendation on Visteon Corporation (NASDAQ:VC) to $110 from $130. The firm kept an Equal Weight rating on the shares. The adjustment was part of the firm’s fourth-quarter preview for the autos and mobility group. Barclays said it continues to favor carmakers, noting that they are benefiting from “healthy” production levels and reduced losses tied to electric vehicles.
Earlier in the month, on January 5, Visteon announced plans for its most comprehensive and immersive CES showcase so far. At CES 2026, the company will present a full lineup of production-ready intelligent cockpit electronics, AI computing solutions, advanced display systems, and electrification platforms. These offerings are supported by a growing ecosystem of technology partners.
The CES showcase will also mark the debut of Visteon’s refreshed brand identity. The update reflects the company’s position as a leading automotive technology co-creator, rather than a supplier of early-stage concepts.
Sachin Lawande, president and chief executive officer of Visteon, said the company is demonstrating technology that is already live and ready for real-world use. He explained that the showcase brings together key shifts shaping the auto industry, including edge-based AI, software-defined vehicle architectures, global connectivity, and electrification. These solutions, he said, are designed to scale across vehicle segments and global markets.
Visteon Corporation (NASDAQ:VC) operates as a global automotive technology company serving the mobility industry. Its platforms combine hardware and software solutions to support automakers worldwide.
5. Millrose Properties, Inc. (NYSE:MRP)
Number of Hedge Fund Holders: 34
Dividend Initiation Announcement: March 17, 2025
On March 17, Millrose Properties, Inc. (NYSE:MRP) announced its inaugural dividend totaling $65 million, or $0.38 per share for both Class A and Class B common stock. Management said this dividend underscores the strength of the platform, the solid demand for its capital, and its commitment to return 100% of earnings to shareholders.
Later in the year, on December 22, the company said its Board of Directors approved a quarterly cash dividend of about $124.5 million. The payout came in at $0.75 per share for Class A and Class B common stock, marking a meaningful step up in capital returned to investors.
Darren Richman, chief executive officer and president of Millrose, said the company’s first year as a public business was defined by steady growth and stronger relationships across the industry. He said the recent dividend increase highlights the strength of Millrose’s homesite option platform and its ability to recycle capital efficiently as homebuilders’ needs evolve.
Richman also noted that even as market cycles shift, well-located finished homesites remain one of the scarcest and most essential resources in housing. He explained that Millrose’s platform supports a range of building strategies, from steady production to more opportunistic development, by giving builders access to critical inventory. By pairing proprietary technology with detailed independent due diligence, management believes Millrose is positioned to act as a core capital partner for leading homebuilders across the country.
Millrose Properties, Inc. (NYSE:MRP), through its subsidiaries, provides operational and capital solutions for homebuilders and land developers. The company finances land acquisition and development through its Homesite Option Purchase Platform, known as HOPP’R.
4. Tutor Perini Corporation (NYSE:TPC)
Number of Hedge Fund Holders: 36
Dividend Initiation Announcement: November 18, 2025
On November 18, Tutor Perini Corporation (NYSE:TPC) announced that strong third-quarter and year-to-date 2025 results prompted its Board of Directors to take action on capital returns. Year to date, operating cash flow reached a record $574.4 million, with $289.1 million generated in the third quarter alone. Backlog also hit a new high at $21.6 billion. Against that backdrop, the board declared a quarterly cash dividend of $0.06 per share and approved a $200 million share repurchase program.
Gary Smalley, chief executive officer and president of Tutor Perini, said operations have been running at a very high level. That performance led management to raise its 2025 earnings guidance for the third consecutive quarter. He pointed to strength across key operating metrics, especially the surge in operating cash flow and the record construction backlog that continues to support future results.
Smalley said the board views the current momentum as the right moment to reinforce the company’s capital allocation strategy. He noted that supportive macro conditions, steady customer demand, and significant federal, state, and local funding for infrastructure projects set the stage for meaningful revenue and profit growth. Those trends are also expected to drive strong cash generation in 2026 and 2027.
Looking ahead, management plans to match this period of faster growth with dividends and share repurchases, using both as tools to reward shareholders alongside the company’s expansion.
Tutor Perini Corporation (NYSE:TPC) is a global civil, building, and specialty construction company. It provides general contracting and design-build services to private clients and public agencies worldwide.
3. VeriSign, Inc. (NASDAQ:VRSN)
Number of Hedge Fund Holders: 44
Dividend Initiation Announcement: April 23, 2025
On January 6, JPMorgan analyst Alexei Gogolev raised his price objective on VeriSign, Inc. (NASDAQ:VRSN) to $271 from $270. The analyst kept a Neutral rating on the stock. In a research note, he pointed to steady improvement in the .com domain business. VeriSign data shows the .com domain base reached 161M total domains as of December 31, up 3% from a year earlier. The firm said it is “encouraged” by the gradually stronger trends in .com and reflected that improvement in its model. At the same time, JPMorgan continues to view the shares as fairly valued.
VeriSign operates the core infrastructure behind the .com and .net internet domains worldwide. Its primary role is managing domain name registry databases so websites reliably connect when someone types a .com or .net address. The company works under long-term agreements with groups such as the Internet Corporation for Assigned Names and Numbers and the US Department of Commerce, which set strict standards around reliability and pricing.
Trust sits at the center of the business. VeriSign, Inc. (NASDAQ:VRSN)’s core services have operated for nearly three decades without downtime, a track record that matters when the entire internet depends on it. Key drivers include contract renewals, strong operational security, and the company’s dominant position in its core registries. Continued investment in technology also plays a role in protecting and expanding the franchise.
Regulatory compliance remains a constant focus, especially as global rules evolve and cyber threats grow more complex. Targeted spending on research and development supports that effort and helps ensure the infrastructure behind .com and .net remains stable and secure.
2. WillScot Holdings Corporation (NASDAQ:WSC)
Number of Hedge Fund Holders: 45
Dividend Initiation Announcement: February 18, 2025
On January 21, Baird downgraded WillScot Holdings Corporation (NASDAQ:WSC) to Neutral from Outperform and raised its price target to $23 from $22. In its research note, the firm said the company’s rental rates and revenue growth remain “sluggish.” Baird also pointed to results from its quarterly survey of National Portable Storage Association members, which suggest a more balanced setup for WillScot as it heads into its initial 2026 guidance. While 2026 estimates have continued to trend lower, the survey indicates that WillScot’s “tone likely remains subdued,” according to the firm.
The company offers a quarterly dividend of $0.07 per share and has a dividend yield of 1.39%, as of January 29. Brad Soultz, chief executive officer of WillScot, said the launch of a quarterly dividend adds another way for the company to return excess capital to shareholders. He said the decision reflects the durability of WillScot’s cash flows across market cycles, the strength of its balance sheet, and management’s confidence in the company’s long-term growth outlook.
Soultz also said the board plans to review the dividend program regularly, with the long-term aim of increasing the payout over time. Under the program, dividends are expected to be paid on the third Wednesday of the final month of each calendar quarter to shareholders of record as of the first Wednesday of that month, subject to quarterly board approval and declaration.
WillScot Holdings Corporation (NASDAQ:WSC) operates as a leading provider of turnkey space solutions across North America. Its product lineup includes modular office complexes, mobile offices, classrooms, temporary restrooms, portable storage containers, protective buildings, climate-controlled units, and clearspan structures.
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