5 Cheap High Dividend Stocks To Buy Right Now

In this article, we discuss 5 cheap high dividend stocks to buy right now. If you want to read our detailed analysis of dividend stocks and their performance over the years, go directly to read 12 Cheap High Dividend Stocks To Buy Right Now. 

5. Altria Group, Inc. (NYSE:MO)

P/E Ratio as of November 11: 8.17
Dividend Yield as of November 11: 9.80%

Altria Group, Inc. (NYSE:MO) is a major American corporation primarily engaged in the tobacco and related industries. The company’s primary focus is on manufacturing and selling cigarettes under well-known brand names such as Marlboro, Virginia Slims, and Parliament. It currently pays a quarterly dividend of $0.98 per share and has a dividend yield of 9.80%, as recorded on November 11. With a dividend growth streak of 54 years, MO is one of the best dividend stocks on our list.

At the end of Q2 2023, 43 hedge funds tracked by Insider Monkey reported having stakes in Altria Group, Inc. (NYSE:MO), down from 49 in the previous quarter. The collective value of these stakes is over $446.2 million.

4. Hercules Capital, Inc. (NYSE:HTGC)

P/E Ratio as of November 11: 8.02
Dividend Yield as of November 11: 9.98%

Hercules Capital, Inc. (NYSE:HTGC) is a California-based specialty finance company. It focuses on providing debt financing solutions to venture capital and private equity-backed companies, especially in the technology and life sciences sectors. On October 31, the company declared a quarterly dividend of $0.40 per share, which was in line with its previous quarter. The company also announced a supplemental cash dividend of $0.08 per share. It has been growing its dividends for five consecutive years. The stock’s dividend yield on November 11 came in at 9.98%.

As of the end of Q2 2023, 12 hedge funds in Insider Monkey’s database reported having stakes in Hercules Capital, Inc. (NYSE:HTGC), up from 9 in the previous quarter. The total worth of these stakes is roughly $30 million.

3. Verizon Communications Inc. (NYSE:VZ)

P/E Ratio as of November 11: 7.19
Dividend Yield as of November 11: 7.45%

Verizon Communications Inc. (NYSE:VZ) is an American telecommunications company that provides a wide range of communication and entertainment services. The company offers a quarterly dividend of $0.665 per share and has a dividend yield of 7.45%, as of November 11. It is one of the best dividend stocks on our list as the company has raised its payouts for 17 consecutive years.

At the end of June 2023, 53 hedge funds tracked by Insider Monkey owned stakes in Verizon Communications Inc. (NYSE:VZ), worth collectively roughly $829 million. Among these hedge funds, Diamond Hill Capital was the company’s leading stakeholder in Q2.

2. British American Tobacco p.l.c. (NYSE:BTI)

P/E Ratio as of November 11: 6.42
Dividend Yield as of November 11: 9.42%

British American Tobacco p.l.c. (NYSE:BTI) is next on our list of the best dividend stocks with high yields. The multinational tobacco company is mainly engaged in the manufacturing, distribution, and sale of tobacco and nicotine-containing products. The company currently pays a quarterly dividend of $0.7006 per share for a dividend yield of 9.42%, as of November 11.

As of the close of the June quarter of 2023, 22 hedge funds owned stakes in British American Tobacco p.l.c. (NYSE:BTI), according to Insider Monkey’s database. The consolidated value of these stakes is nearly $489 million.

1. Organon & Co. (NYSE:OGN)

P/E Ratio as of November 11: 4.88
Dividend Yield as of November 11: 10.07%

Organon & Co. (NYSE:OGN) is a pharmaceutical company that is involved in the development, manufacturing, and commercialization of pharmaceutical products. On November 2, the company announced a quarterly dividend of $0.28 per share, which was consistent with its previous dividend. It started paying dividends in 2021 and has maintained its payouts since then. As of November 11, the stock has a dividend yield of 10.07%.

Organon & Co. (NYSE:OGN) was a part of 31 hedge fund portfolios at the end of Q2 2023, as per Insider Monkey’s database. The stakes held by these hedge funds have a collective value of over $231 million.

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