5 Undervalued Dividend Stocks with Over 10% Yield

3. Golden Ocean Group Limited (NASDAQ:GOGL)

Dividend Yield as of May 13: 25.96%

Number of Hedge Fund Holders: 10

P/E Ratio as of May 13: 5.29

Golden Ocean Group Limited (NASDAQ:GOGL) is a shipping company that owns and operates a fleet of dry bulk vessels, transporting bulk commodities like ores, coal, grains, and fertilizers. Golden Ocean Group Limited (NASDAQ:GOGL)’s dividend yield on May 13 stood at 25.96%. With a price to earnings ratio of 5.29, it is a significant undervalued dividend stock to watch. 

Golden Ocean Group Limited (NASDAQ:GOGL) on February 16 declared a $0.90 per share quarterly dividend, a 5.9% increase from its last dividend of $0.85. The dividend was distributed to shareholders on March 10. 

On March 8, Golden Ocean Group Limited (NASDAQ:GOGL) announced the sale of three of its oldest Panamax vessels – Golden Empress, Golden Enterprise, and Golden Endeavor, in line with its strategy to operate a modern, fuel efficient fleet with lower carbon emissions. The company sold the three vessels for $52 million, and expects to record a gain from the disposal of about $9.6 million in Q2, with average net cash proceeds of approximately $30.7 million when the vessels are delivered to purchasers.

Among the hedge funds tracked by Insider Monkey, 10 hedge funds were bullish on Golden Ocean Group Limited (NASDAQ:GOGL) at the end of Q4 2021, with stakes worth about $50 million. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is the largest shareholder of the company, with 2.6 million shares valued at $24.2 million.