5 Best May Dividend Stocks To Buy

In this article, we discuss 5 best May dividend stocks to buy. If you want to read our detailed analysis of dividend stocks and their performance in the past, go directly to read 10 Best May Dividend Stocks To Buy. 

5. ALLETE, Inc. (NYSE:ALE)

Ex-Dividend Date: May 12
Dividend Yield as of April 27: 4.36%

ALLETE, Inc. (NYSE:ALE) is an American company that requires and manages clean and renewable energy products. In April, Sidoti upgraded the stock to Buy with a $74 price target, appreciating the company’s overall performance over the years.

ALLETE, Inc. (NYSE:ALE) is one of the best dividend stocks on our list as it has a 73-year run of making uninterrupted dividend payments to shareholders. The stock will go ex-dividend on May 12. It currently pays a quarterly dividend of $0.6775 per share and has a dividend yield of 4.36%, as of April 27.

As of the close of Q4 2022, 18 hedge funds tracked by Insider Monkey reported having stakes in ALLETE, Inc. (NYSE:ALE), compared with 19 in the previous quarter. These stakes have a collective value of over $44 million. Point72 Asset Management was the company’s leading stakeholder in Q4.