5 Very High Yield Dividend Stocks to Check Out

2. Newtek Business Services Corp. (NASDAQ:NEWT)

Dividend Yield as of September 27: 16.55%

Newtek Business Services Corp. (NASDAQ:NEWT) is a non-diversified management investment company that also operates as a business development company. In August, Raymond James upgraded the stock to Market Perform, mentioning that the company’s Q2 results were ahead of Street consensus. The firm further pointed out that its outlook for earnings is brighter.

Newtek Business Services Corp. (NASDAQ:NEWT) currently pays a quarterly dividend of $0.65 per share. The company is one of the best dividend stocks with a high yield as it has raised its dividends at a CAGR of 14.1% in the past five years. As of September 27, the stock’s dividend yield came in at 16.55%.

In Q2 2022, Newtek Business Services Corp. (NASDAQ:NEWT) posted a net investment income of $0.75 per share, which beat estimates by $0.03. The company’s total investment portfolio increased by 8.8% to $757 million. It reported $19.2 million in total investment income and its net income for the quarter stood at $13.5 million.

At the end of June 2022, 5 hedge funds in Insider Monkey’s database owned stakes in Newtek Business Services Corp. (NASDAQ:NEWT), falling from 7 in the previous quarter. The collective value of these stakes is $22.5 million.