5 Best Dividend Paying Stocks Under $50

4. HNI Corporation (NYSE:HNI)

Share Price as of September 30: $27.14

HNI Corporation (NYSE:HNI) is an Iowa-based furniture company that also specializes in hearth products, including gas, electric, wood, and biomass burning fireplaces. In August, Sidoti maintained its Neutral rating on the stock with a $38 price target. The firm expects the company’s revenue to grow in the upcoming quarter as well.

In Q2 2022, HNI Corporation (NYSE:HNI) reported an operating cash flow of $13.7 million. The company’s net income grew to $44.5 million, from $32.4 million in the same period last year. Its revenue of $621.7 million showed a 21.8% growth from the prior-year quarter. At the end of July 2022, the company had over $19.2 million available in cash and cash equivalents with $1.58 billion in total assets.

HNI Corporation (NYSE:HNI) pays $0.32 per share in quarterly dividends. The company has been raising its dividends for the past 11 years with a relatively low five-year dividend CAGR of 2.38%. As of September 30, the stock’s dividend yield came in at 4.69%.

At the end of Q2 2022, 10 hedge funds tracked by Insider Monkey owned stakes in HNI Corporation (NYSE:HNI), down from 11 in the previous quarter. These stakes hold a combined value of $15.8 million. Ken Griffin and Israel Englander were some of the company’s major stakeholders in Q2.