5 Very High Yield Dividend Stocks Billionaires Are Piling Into

In this article, we’re going to take a look at top 5 very high yield dividend stocks billionaires are piling into. To see a broader list of stocks and get a better understanding about why you need to invest in dividend stocks and how following billionaire investors could help you, follow this link to read about the 10 very high yield dividend stocks billionaires are piling into.

Israel Englander of Millennium Management

5. Devon Energy Corp (NYSE:DVN)

Nr. of Billionaire Investors: 13

Dividend Yield: 7.80%

At the end of September, there were 13 hedge funds run by billionaires bullish on Devon Energy Corp (NYSE:DVN), including Israel Englander’s Millennium Management, Leon Cooperman’s Omega Advisors and David E. Shaw’s D E Shaw. In November, Devon Energy Corp (NYSE:DVN) raised its dividend by 57% to $0.77 per share. In addition, the company reported better-than-expected top and bottom-line figures for the third quarter. During the earnings call, Devon Energy Corp (NYSE:DVN) President and CEO Rick Muncrief mentioned that the dividend growth was caused by the company more than doubling its free cash flow as it managed to keep the reinvestment rates to 50% of the cash flow. During the fourth quarter, Devon Energy Corp (NYSE:DVN) expects to maintain a solid financial position.

“However, we do expect our financial performance in the fourth quarter to be very strong with operating margins set to expand and free cash flow to be quite robust. Overall, the fourth quarter is set up to round out another successful year financially for our company. And while we have certainly faced some challenges this year, we’re on track to deliver one of the best years in our 50-plus year history in terms of returns and free cash flow generation,” Muncrief added.