5 Best Dividend Stocks for Roth IRA

In this article, we discuss the 5 best dividend stocks for Roth IRA. If you want to read about some more dividend stocks for Roth IRA, go directly to 10 Best Dividend Stocks for Roth IRA. 

5. BHP Group (NYSE:BHP)

Number of Hedge Fund Holders: 21     

Forward Dividend Yield: 9.43%   

BHP Group (NYSE:BHP) is a diversified metals and mining firm. Elite hedge funds hold bullish positions in the stock. Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in BHP Group (NYSE:BHP) with 7.8 million shares worth more than $470 million. 

BHP Group (NYSE:BHP) has a stellar dividend history stretching back over thirteen years. In the past five years, the company has consistently grown the dividend payout. On February 23, the company declared a semi-annual dividend of $3 per share. 

In its Q1 2021 investor letter, Harding Loevner, an asset management firm, highlighted a few stocks and BHP Group (NYSE:BHP) was one of them. Here is what the fund said:

“Our purchase of Australian mining company BHP Group (NYSE:BHP) is an example of a quality company at a moderate valuation that should deliver attractive long-term returns. We believe the market has undervalued its enduring competitive advantage due to its low cost iron and copper mining operations which has allowed the company to deliver consistent profits and cash flows across the inevitable ups and downs of the global metals cycle. While the variability of commodity prices prevents BHP Group (NYSE:BHP) from scoring in the top ranks of measured quality, we are willing to bear some of that uncertainty in return for a more attractive valuation given the company’s strong business fundamentals.”