5 Undervalued Stocks That Just Raised Their Dividends

In this article, we discuss 5 best dividend stocks that are undervalued and have just raised their payouts. If you want to read our detailed analysis of dividend and value stocks and their previous performance, go directly to read 12 Undervalued Stocks That Just Raised Their Dividends. 

5. Sun Life Financial Inc. (NYSE:SLF)

PE Ratio (TTM): 13.01

Sun Life Financial Inc. (NYSE:SLF) is a Canadian financial services company that offers a wide range of insurance and other related services to its consumers. On May 9, the company hiked its quarterly dividend by 3.8% to C$0.81 per share. Through this increase, the company achieved its ninth consecutive annual dividend hike, which makes SLF one of the best dividend stocks on our list. The stock has a dividend yield of 4.60%, as of May 13.

As of the end of Q4 2023, 13 hedge funds in Insider Monkey’s database owned stakes in Sun Life Financial Inc. (NYSE:SLF), up from 12 in the previous quarter. These stakes are collectively valued at over $98.6 million. Among these hedge funds, GLG Partners was the company’s leading stakeholder in Q4.

Photo by Joshua Hoehne on Unsplash

4. Cabot Corporation (NYSE:CBT)

PE Ratio (TTM): 12.95

Cabot Corporation (NYSE:CBT) is an American specialty chemicals company that offers a wide range of products for various industries. The company’s quarterly dividend comes in at $0.43 per share and has a dividend yield of 1.69%, as of May 13. In May this year, the company raised its dividend for the 12th consecutive year. Moreover, it has been paying regular dividends to shareholders since 1968, which makes CBT one of the best dividend stocks on our list.

Insider Monkey’s database of Q4 2023 indicated that 20 hedge funds held stakes in Cabot Corporation (NYSE:CBT), which remained the same as in the previous quarter. The total value of these stakes is over $114 million.