10 Cheap Dividend Stocks with Over 6% Yield

Published June 28, 2022 at 11:19 am EDT Updated September 7, 2026 at 2:16 pm EDT

In this article, we discuss 10 cheap dividend stocks with over 6% yield.

According to research conducted by Fidelity, dividend stocks performed well during the inflationary periods in the past. In the 1940s and 1970s, dividends represented 65% and 71% of the S&P 500’s returns, respectively. The report further mentioned that the stocks that reduced or cut their dividends have underperformed the market historically by 20% to 25%. Some of the best dividend stocks that have a proven history of dividend growth include The Coca-Cola Company (NYSE:KO), Johnson & Johnson (NYSE:JNJ), and Exxon Mobil Corporation (NYSE:XOM).

However, in this article, we will focus on cheap dividend stocks with over 6% yield.

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Our Methodology:

For this article we picked some solid dividend stocks with over 6% yield. All these stocks are priced under $30, as of the close of June 26.

Cheap Dividend Stocks with Over 6% Yield

10. Kinder Morgan, Inc. (NYSE:KMI)

Dividend Yield as of June 26: 6.74%

Share Price as of June 26: $16.48

Kinder Morgan, Inc. (NYSE:KMI) is an energy infrastructure company that owns oil and gas pipelines in North America. In May, the company announced an expansion project that will enhance natural gas deliveries and pipeline capacity by nearly 570 cf per day.

In April, Kinder Morgan, Inc. declared a quarterly dividend of $0.275 per share, a 2.8% hike from its previous dividend. The company has been raising its dividends consecutively for the five years and since 2018, it has raised its annual dividend by 113.46%. The stock’s dividend yield came in at 6.74%, as of June 26. In May, Truist initiated its coverage of Kinder Morgan, Inc. with a Buy rating and a $22 price target, as the firm highlighted the growing demand for natural gas.

At the end of Q1 2022, 40 hedge funds in Insider Monkey’s database owned stakes in Kinder Morgan, Inc., up from 39 in the previous quarter. The consolidated value of these stakes is over $1.34 billion. FPR Partners held the largest position in the company, with stakes valued at $307.3 million.

Just like famous stocks, such as The Coca-Cola Company, Johnson & Johnson, and Exxon Mobil Corporation, Kinder Morgan, Inc. is also considered a safe dividend stock due to its dividend policy.

9. ASE Technology Holding Co., Ltd. (NYSE:ASX)

Dividend Yield as of June 26: 7.63%

Share Price as of June 26: $6.28

ASE Technology Holding Co., Ltd. (NYSE:ASX) is a Taiwan-based engineering services company that also provides test manufacturing services. In May, the company reported its revenue at $1.82 billion, up 7.8% from the previous month. Moreover, its ATM revenues for the month amounted to $1.07 billion.

ASE Technology Holding Co., Ltd. currently pays an annual dividend of $0.30 per share, with a dividend yield of 7.63%, as of June 26. Though the stock’s payouts are comparatively less in amount, the analysts are positive about its future dividend growth.

In Q1, Ken Fisher’s Fisher Asset Management owned over 25.6 million shares in ASE Technology Holding Co., Ltd., worth over $182.1 million, becoming the company’s largest shareholder. Overall, 9 hedge funds in Insider Money’s database were bullish on the company in Q1, owning stakes worth over $236.3 million.

8. Brandywine Realty Trust (NYSE:BDN)

Dividend Yield as of June 26: 7.73%

Share Price as of June 26: $9.83

Brandywine Realty Trust (NYSE:BDN) is a Philadelphia-based real estate investment trust that mainly invests in office buildings. In Q1 2022, the company delivered solid results, with its FFO standing at $0.35, which beat market estimates by $0.01. Its revenue of $127.5 million saw a 5.6% year-over-year growth and also surpassed consensus by $1.06 million. Moreover, the company’s rental market-to-market rate grew by 20.4% from the same period last year.

In June, Credit Suisse initiated its coverage of Brandywine Realty Trust with a Neutral rating and a $10 price target. The firm expressed concerns about the company’s earnings but remained positive about its occupancy rates.

Brandywine Realty Trust hasn’t raised its dividend for the past 15 quarters and currently offers a quarterly payout of $0.19 per share. The stock’s dividend yield stands at its 10-year high at 7.73%, as of the close of June 26.

As per Insider Monkey’s Q1 2022 database, 16 hedge funds owned stakes in Brandywine Realty Trust, up from 15 in the previous quarter. The consolidated value of these stakes is over $90.7 million.

7. Dynex Capital, Inc. (NYSE:DX)

Dividend Yield as of June 26: 9.73%

Share Price as of June 26: $16.04

Dynex Capital, Inc. (NYSE:DX) is a Virginia-based real estate investment trust that invests in mortgage-based securities on a leveraged basis. Though the company failed to meet analysts’ estimates in its Q1 earnings, its net interest income of $15.6 million saw a 28.2% year-over-year growth.

Dynex Capital, Inc. pays monthly dividends to shareholders and it currently offers a monthly payout of $0.13 per share. The management had to cut its dividend by 13% in 2020 due to the pandemic but sustained its payouts over this period. The stock’s dividend yield came in at 9.73%, as of June 26.

In June, Keefe Bruyette upgraded Dynex Capital, Inc. to Outperform, with an $18.75 price target, up from $17. The firm presented a positive outlook on mortgage-based securities.

At the end of Q1 2022, 6 hedge funds tracked by Insider Monkey reported owning stakes in Dynex Capital, Inc., up from 4 in the previous quarter. The collective value of these stakes is nearly $19 million. Among these hedge funds, Balyasny Asset Management held the largest position in the company in Q1, with stakes valued at over $11.6 million.

6. MPLX LP (NYSE:MPLX)

Dividend Yield as of June 26: 9.77%

Share Price as of June 26: $28.86

MPLX LP (NYSE:MPLX) is an Ohio-based master limited partnership that operates midstream energy infrastructure and related assets. In May, the company announced the expansion of its Whistler gas pipeline in Texas, which will increase the mainline capacity to 2.5 billion cf per day.

In Q1 2022, MPLX LP reported a GAAP EPS of $0.78, which beat estimates by $0.02. The company’s revenue for the quarter came in at $2.61 billion, experiencing an 11.5% year-over-year growth and also surpassing consensus by $160 million. Moreover, its Gathering and Processing segment’s revenue grew to $297 million in Q1, from $251 million recorded during the same period last year.

MPLX LP maintains a 9-year track record of consistent dividend growth, with a 5-year CAGR of 6%. The company currently offers a quarterly dividend of $0.705 per share, with a dividend yield of 9.77%, as of the close of June 26. In May, Truist initiated its coverage of MPLX LP with a Buy rating and a $37 price target.

According to Insider Monkey’s Q1 2022 database, 8 hedge funds held stakes in MPLX LP, the same as in the previous quarter. These stakes hold a combined value of over $58.7 million. Henry Breck and Ken Griffin were the company’s prominent shareholders in Q1.

In addition to prominent dividend stocks, such as The Coca-Cola Company, Johnson & Johnson, and Exxon Mobil Corporation, MPLX is also grabbing the attention of income investors and analysts.

5. Prospect Capital Corporation (NASDAQ:PSEC)

Dividend Yield as of June 26: 10.11%
Share Price as of June 26: $7.12

Prospect Capital Corporation (NASDAQ:PSEC) is an American business development company that provides services related to debt and equity investments to middle-market companies across the country. In 2017, the company trimmed its monthly payout by 28% and currently offers a dividend of $0.06 per share every month. The stock’s dividend yield stood at 10.11%, as of June 26.

In fiscal Q3 2022, Prospect Capital Corporation reported a net investment income of $0.22, which exceeded market estimates by $0.04. The company’s total investment income stood at $181.3 million, up 13.8% from the same period last year. In May, the management paid its 60^th consecutive dividend to shareholders.

The number of hedge funds tracked by Insider Monkey owning stakes in Prospect Capital Corporation stood at 6 in Q1, declining from 9 in the previous quarter. The collective value of these stakes is over $18.4 million. Two Sigma Advisors owned the largest stake in the company in Q1, valued at over $11 million.

4. New Residential Investment Corp. (NYSE:NRZ)

Dividend Yield as of June 26: 10.18%
Share Price as of June 26: $9.82

New Residential Investment Corp. (NYSE:NRZ) is an American mortgage-based real estate investment trust that provides mortgage servicing rights and related investment services to consumers. In Q1 2022, the company reported a 10% growth in its book value per share to $12.56. Its gross revenue for the quarter came in at $1.73 billion, showing a 47.7% year-over-year growth.

At the end of Q1 2022, 19 hedge funds in Insider Monkey’s database owned stakes in New Residential Investment Corp., valued at $57.6 million. In comparison, 19 hedge funds held positions in the company in the previous quarter, with stakes worth over $80.8 million.

On June 17, New Residential Investment Corp. declared a quarterly dividend of $0.25 per share, consistent with its previous dividend. The stock’s dividend yield was recorded at 10.18% on June 26. Keefe Bruyette mentioned New Residential Investment Corp. in its June investors’ note, expecting the company’s book value to increase in Q2. The firm raised its price target on the stock to $14.25, while maintaining an Outperform rating on the shares.

3. Oaktree Specialty Lending Corporation (NASDAQ:OCSL)

Dividend Yield as of June 26: 10.25%
Share Price as of June 26: $6.44

Oaktree Specialty Lending Corporation (NASDAQ:OCSL) is a California-based asset management firm. As of May, the company’s assets under management stood at over $164 billion. In fiscal Q2 2022, it reported a total investment income of $64.3 million, which beat analysts’ estimates by $5.77 million and also showed a 53.5% growth from the same period last year. However, the company’s EPS of $0.08 missed consensus by $0.09.

In May, Oaktree Specialty Lending Corporation raised its quarterly dividend for the straight 8^th quarter to $0.165 per share. The company’s payout ratio stands at 68.4% and its dividend yield came in at 10.25%, as of June 26.

Howard Marks’ Oaktree Capital Management was the largest stakeholder of Oaktree Specialty Lending Corporation in Q1, owing over 5 million shares, worth nearly $37 million. In addition to this, 9 hedge funds in Insider Monkey’s database held positions in the company in Q1, with stakes valued at $86.4 million.

2. Global Partners LP (NYSE:GLP)

Dividend Yield as of June 26: 10.32%
Share Price as of June 26: $23.07

Global Partners LP (NYSE:GLP) operates gasoline stations and convenience stores in Northeast America and also owns one of the largest terminal networks in New York and New England. Earlier this year, the company completed its acquisition of retail stores and convenience store assets from Consumer Petroleum Connecticut, expanding its operations in the state.

In Q1 2022, Global Partners LP reported a GAAP EPS of $0.76, which exceeded estimates by $0.87. The company’s revenue for the quarter stood at $4.5 billion, experiencing a 76.5% year-over-year growth. Moreover, its volume was recorded at 1.5 billion gallons, up from 1.3 billion gallons recorded during the same period last year.

On April 26, Global Partners LP announced a quarterly dividend of $0.595 per share, up 1.7% from the previous dividend. The stock’s dividend yield came in at 10.32%, as of June 26.

At the end of Q1 2022, 2 hedge funds in Insider Monkey’s database owned stakes in Global Partners LP, the same as in the previous quarter. The consolidated value of these stakes is over $3.6 million.

1. Broadmark Realty Capital Inc. (NYSE:BRMK)

Dividend Yield as of June 26: 11.98%
Share Price as of June 26: $7.01

Broadmark Realty Capital Inc. (NYSE:BRMK) is a Washington-based specialty real estate finance company that provides financing solutions to its consumers.

Broadmark Realty Capital Inc. currently offers a monthly dividend of $0.17 per share and has been raising its dividends for the past two years. The stock’s dividend yield, as of June 26, came in at 11.98%. In June, Piper Sandler initiated its coverage of Broadmark Realty Capital Inc. with a Neutral rating, appreciating the company’s long-term investment opportunities. The firm further expressed concerns regarding the ongoing uncertain environment for construction loans.

As per Insider Monkey’s Q1 2022 data, 7 hedge funds reported owning stakes in Broadmark Realty Capital Inc., down from 11 in the previous quarter. These stakes hold a consolidated value of over $50 million. Farallon Capital was the company’s leading shareholder in Q1, owning shares worth nearly 5 million.

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