5 Companies that Just Started Paying Dividends

In this article, we discuss companies that just started paying dividends. If you want to read our detailed analysis of dividend stocks and their importance, go directly to read 15 Companies that Just Started Paying Dividends. 

5. Dell Technologies Inc. (NYSE:DELL)

Dividend Yield as of March 2: 3.26%

Dell Technologies Inc. (NYSE:DELL) is a Texas-based technology company that develops and sells computers and related products. The company started paying dividends in February 2022 and currently pays a quarterly dividend of $0.33 per share. The stock has a dividend yield of 3.26%, as of March 2.

Morgan Stanley raised its price target on Dell Technologies Inc. (NYSE:DELL) to $47 in February with an Equal Weight rating on the shares. The firm mentioned that consumer and commercial market weakness could prolong the company’s softer-than-expected demand.

At the end of Q4 2022, 46 hedge funds tracked by Insider Monkey reported having investments in Dell Technologies Inc. (NYSE:DELL), down from 49 in the previous quarter. The stakes owned by these hedge funds have a total value of over $1.12 billion.

4. Viatris Inc. (NASDAQ:VTRS)

Dividend Yield as of March 2: 4.24%

Viatris Inc. (NASDAQ:VTRS) is an American pharmaceutical company that was formed through the combination of Mylan and Upjohn in 2020. In February, Barclays raised its price target on the stock to $16 with an Overweight rating on the shares, highlighting the company’s strong revenue outlook for 2023.

Viatris Inc. (NASDAQ:VTRS) started its dividend policy in February 2021 and has raised its dividend once since then. The company offers a quarterly dividend of $0.12 per share and has a dividend yield of 4.24%, as of March 2.

At the end of Q4 2022, 47 hedge funds tracked by Insider Monkey were long Viatris Inc. (NASDAQ:VTRS), compared with 50 a quarter earlier. The stakes owned by these hedge funds are valued at $1.42 billion collectively.

Miller Value Partners mentioned Viatris Inc. (NASDAQ:VTRS) in its Q4 2022 investor letter. Here is what the firm has to say:

“Viatris Inc. (NASDAQ:VTRS) gained after reporting 3Q22 net sales of $4.07B, -10.0% Y/Y (-1% operationally), below consensus of $4.14B, and Adjusted EBITDA of $1.50B (36.8% margin), ahead of consensus of $1.44B. Free cash flow (FCF) for the quarter came in at $765.1MM, which brings trailing twelve-month (TTM) FCF to $2.88B, or a FCF yield of 22.9%. Viatris paid down ~$614MM of debt in the quarter, bringing YTD debt reduction to ~$2.1B, in-line with the company’s previously stated target of reducing debt by ~$6.5B between 2021-2023. Additionally, the company announced the acquisitions of two Ophthalmology (eyecare) companies, Oyster Point Pharma and Famy Life Sciences, for an aggregate purchase price of ~$700-750MM, with management expecting these transactions to add at least $1B in sales and $500MM in Adjusted EBITDA to Viatris by 2028.”

3. Epsilon Energy Ltd. (NASDAQ:EPSN)

Dividend Yield as of March 2: 4.32%

Epsilon Energy Ltd. (NASDAQ:EPSN) is a Texas-based oil and natural gas company that is engaged in the development and acquisition of oil and gas reserves. On December 5, the company declared a quarterly dividend of $0.0625 per share, which fell in line with its previous dividend. It started paying dividends in February 2022.

In the third quarter of 2022, Epsilon Energy Ltd. (NASDAQ:EPSN) reported revenue of $21.2 million, which showed a 62% growth from the same period last year. The company’s free cash flow for the quarter came in at $11.2 million and its operating cash flow amounted to $13.7 million. It returned over $1.45 million to shareholders in dividends during the quarter.

The number of hedge funds tracked by Insider Monkey owning stakes in Epsilon Energy Ltd. (NASDAQ:EPSN) stood at 11 in Q4 2022, up from 10 in the previous quarter. The consolidated value of these stakes is over $33 million. Solas Capital Management was the company’s leading stakeholder in Q4.

2. VAALCO Energy, Inc. (NYSE:EGY)

Dividend Yield as of March 2: 5.18%

VAALCO Energy, Inc. (NYSE:EGY) is an American company that is engaged in the exploration of hydrocarbons. Stifel initiated its coverage on the stock with a Buy rating in March with a 790 GBP price target. The firm sees near-term growth in the company’s business through its investments.

VAALCO Energy, Inc. (NYSE:EGY) started paying dividends in November 2021 with a per-share dividend of $0.0325 every quarter. On February 14, the company declared a 92% hike in its quarterly dividend to $0.0625 per share, which was its first dividend raise since the start of its dividend policy. The company’s shares boast a yield of 5.18%, as of March 2.

At the end of December 2022, 17 hedge funds in Insider Monkey’s database reported owning stakes in VAALCO Energy, Inc. (NYSE:EGY), up from 13 in the previous quarter. The collective value of these stakes is over $33 million.

1. Seanergy Maritime Holdings Corp. (NASDAQ:SHIP)

Dividend Yield as of March 2: 14.75%

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) is an international shipping company, based in Greece. The company started paying dividends in March 2022. It currently offers a quarterly dividend of $0.025 per share and has a dividend yield of 14.75%, as of March 2.

At the end of December 2022, 3 hedge funds in Insider Monkey’s database owned stakes in Seanergy Maritime Holdings Corp. (NASDAQ:SHIP), compared with 2 a quarter earlier. These stakes have a total value of $503,000. Ken Griffin’s Citadel Investment Group was the company’s leading stakeholder in Q4.

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