5 Dividend Stock Picks of Late Billionaire Michael Price’s MFP Investors

In this article, we discuss 5 dividend stocks in Michael Price’s portfolio. If you want to read our detailed analysis of MFP Investors’ past performance and Price’s investment strategy, go directly to read 10 Dividend Stock Picks of the Late Billionaire Michael Price’s MFP Investors.

5. Popular, Inc. (NASDAQ:BPOP)

Number of Hedge Fund Holders: 34
Dividend Yield as of May 25: 2.81%
MFP Investors’ Stake Value: $25,609,000

Popular, Inc. (NASDAQ:BPOP) is a financial services company based in Puerto Rico that has operated on the island for over 125 years. MFP Investors started building its position in the company in 2014, with shares worth over $4.7 million. At the end of Q1 2022, the hedge fund held stakes worth over $25.6 million in the company, which accounted for 3.18% of its portfolio.

As per Insider Monkey’s Q1 2022 database, 34 hedge funds held shares in Popular, Inc. (NASDAQ:BPOP), down slightly from 35 in the previous quarter. The consolidated value of these stakes is over $784.6 million.

In February, Popular, Inc. (NASDAQ:BPOP) announced a quarterly dividend of $0.55 per share, reflecting a 22.2% growth from its prior dividend. The company has been increasing its dividend for six consecutive years. The stock’s dividend yield came in at 2.81%, as of the close of May 25.

According to Keefe Bruyette, given the expanding Puerto Rican economy, Popular, Inc. (NASDAQ:BPOP) is well-positioned to reap benefits. In April, the firm lifted its price target on the stock to $115, with an Outperform rating on the shares.