In this article, we discuss 5 penny stocks that pay dividends. If you want to see more affordable dividend stocks, click 10 Penny Stocks that Pay Dividends.
5. Franklin Street Properties Corp. (NYSE:FSP)
Dividend Yield as of May 16: 7.90%
Price as of May 16: $4.55
Number of Hedge Fund Holders: 10
Franklin Street Properties Corp. (NYSE:FSP) is a real estate investment trust based in Wakefield, Massachusetts. The company focuses on value-oriented infill and central business district office properties in the U.S. Sunbelt and Mountain West. Franklin Street Properties Corp. (NYSE:FSP)’s dividend yield on May 16 stood at 7.90%.
On April 1, Franklin Street Properties Corp. (NYSE:FSP) declared a quarterly per share dividend of $0.09, in line with previous. The dividend was paid on May 5, for shareholders of record on April 15.
Riley analyst Craig Kucera on May 5 reiterated a Buy rating on Franklin Street Properties Corp. (NYSE:FSP) but lowered the firm’s price target on the shares to $6 from $6.50 after the Q1 results were published. The analyst cited office real estate investment trust multiple compression and a reduction to his net asset value estimate for the slashed price target.
Among the hedge funds tracked by Insider Monkey, 10 funds reported owning stakes in Franklin Street Properties Corp. (NYSE:FSP) at the end of December 2021, compared to 12 funds in the last quarter. In Q1 2022, Jim Simons’ Renaissance Technologies held a significant position in the company, with 1.6 million shares worth $9.6 billion.
4. Kinross Gold Corporation (NYSE:KGC)
Dividend Yield as of May 16: 2.79%
Price as of May 16: $4.30
Number of Hedge Fund Holders: 31
Kinross Gold Corporation (NYSE:KGC) is a Canadian gold and silver mining company that owns mining properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. Kinross Gold Corporation (NYSE:KGC)’s dividend yield on May 16 came in at 2.79%.
On May 10, Kinross Gold Corporation (NYSE:KGC) declared a quarterly dividend of $0.03 per share, in line with previous. The dividend is distributable on June 16, to shareholders of the company as of June 2.
Kinross Gold Corporation (NYSE:KGC) reported earnings for the first quarter of 2022 on May 10, posting non-GAAP earnings per share of $0.06 and a revenue of $768 million. Kinross Gold Corporation (NYSE:KGC)’s cash and cash equivalents stood at $454.2 million, with total liquidity of approximately $1.7 billion as of March 31, 2022.
According to Insider Monkey’s Q4 data, 31 hedge funds placed long calls on Kinross Gold Corporation (NYSE:KGC), with collective stakes valued at $365.6 million, compared to 27 funds in the earlier quarter, holding stakes in the company worth $321 million. In Q1 2022, Eric Sprott’s Sprott Asset Management was a significant shareholder of Kinross Gold Corporation (NYSE:KGC), with 8.3 million shares amounting to $49.3 million.
3. Banco Bradesco S.A. (NYSE:BBD)
Dividend Yield as of May 16: 4.48%
Price as of May 16: $3.83
Number of Hedge Fund Holders: 12
Banco Bradesco S.A. (NYSE:BBD) is a Brazilian financial services company that offers banking and insurance products and services to individuals, corporations, and businesses. Banco Bradesco S.A. (NYSE:BBD) also deals in investment vehicles, pension products, real estate and automobile auctions, and foreign trade and exchange services.
Banco Bradesco S.A. (NYSE:BBD) reported on May 5 its Q1 2022 results. The company posted Q1 GAAP earnings per share of R$0.63. The recurring net income over the period came in at R$6.82 billion, up 4.6% year-over-year. The Q1 net interest income of R$17.06 billion also climbed 9.5% compared to the same period last year.
On May 2, Banco Bradesco S.A. (NYSE:BBD) declared a $0.003 per share monthly dividend, in line with previous. The dividend is distributable on June 8, to shareholders of the company at the close of business on May 4. Banco Bradesco S.A. (NYSE:BBD) delivers a dividend yield of 4.48% as of May 16. Priced at $3.83, it is a prominent penny stock to watch.
A total of 12 hedge funds were bullish on Banco Bradesco S.A. (NYSE:BBD) at the end of December 2021, compared to 13 in the prior quarter. Ken Fisher’s Fisher Asset Management is one of the leading shareholders of Banco Bradesco S.A. (NYSE:BBD) as of Q1 2022, with 23.4 million shares worth $108.6 million.
2. CorEnergy Infrastructure Trust, Inc. (NYSE:CORR)
Dividend Yield as of May 16: 7.94%
Price as of May 16: $2.52
Number of Hedge Fund Holders: 4
CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) is a Kansas-based real estate investment trust that owns a portfolio of critical energy assets, including pipelines, storage terminals, and transmission and distribution assets. The REIT leases out these assets to industrial and commercial customers under long-term contracts.
On May 12, CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) posted its Q1 revenue of $32.87 million, which increased 42.7% on a year-over-year basis. The stock rose 6.5% after Q1 adjusted EBITDA jumped from the prior quarter and year-over-year, and the company signed its first contract to offer transportation for a carbon sequestration project.
According to the fourth quarter database of Insider Monkey, 4 hedge funds were bullish on CorEnergy Infrastructure Trust, Inc. (NYSE:CORR), with collective stakes worth $727,000, compared to 3 funds in the earlier quarter, holding stakes in the company valued at more than $1 million. Lawrence Raiman’s LDR Capital held a significant share in CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) at the end of Q1 2022, with 217,398 shares worth $4.15 million.
1. U.S. Energy Corp. (NASDAQ:USEG)
Dividend Yield as of May 16: 2.15%
Price as of May 16: $4.19
Number of Hedge Fund Holders: 3
U.S. Energy Corp. (NASDAQ:USEG) is an American independent energy company, developing and acquiring oil and natural gas properties in the continental United States. The company posted its Q1 results on May 12, announcing a revenue of $8.87 million, up 633.1% year-over-year.
On March 28, U.S. Energy Corp. (NASDAQ:USEG) declared a $0.0225 per share quarterly dividend. The dividend was paid to shareholders on May 2. U.S. Energy Corp. (NASDAQ:USEG)’s dividend yield on May 16 came in at 2.15%.
U.S. Energy Corp. (NASDAQ:USEG) announced on May 3 that it has acquired operational oil and gas producing properties in an all-cash transaction. The properties are based primarily in Liberty County, Texas, adjacent to its existing assets in the locality.
According to Insider Monkey’s Q4 data, 3 hedge funds were long U.S. Energy Corp. (NASDAQ:USEG), with combined stakes worth $235,000. In Q1 2022, Jim Simons’ Renaissance Technologies owned 385,290 shares of the company, worth $1.6 million.
You can also take a look at 10 Best Gas Stocks To Buy Now and 10 Blue Chip Stocks with Dividends.
