Top 5 Dividend Stocks to Buy According to James Katz’s Humankind Investments

4. Bunge Limited (NYSE:BG)

Dividend Yield as of June 28: 2.74%
Humankind Investments’ Stake Value: $2,530,000

Bunge Limited (NYSE:BG) is a Missouri-based food company that specializes in fertilizers, edible oil, and wheat products.

At the end of Q1 2022, Humankind Investments owned 22,834 shares in Bunge Limited (NYSE:BG), valued at over $2.5 million. The hedge fund sold over 400 BG shares, trimming its position by 1%. The company represented 1.03% of James Katz’s portfolio.

Bunge Limited (NYSE:BG) froze its quarterly payout at $0.50 per share from 2018 to 2020, however, the company has raised its dividend twice since then. On May 12, the company announced a 19% growth in its quarterly dividend at $0.625 per share. In Q1, it paid $82 million in dividends to shareholders, up from $79 million paid during the same period last year. The stock’s dividend yield was recorded at 2.74% on June 28.

Old West Investment Management mentioned Bunge Limited (NYSE:BG) in its Q1 2022 investor letter. Here is what the firm has to say:

“Bunge (pronounced BUN-GEE) Ltd (NYSE:BG) is one of the biggest agribusinesses and food companies in the world. There are four worldwide companies that dominate the sector, the others being Archer-Daniels-Midland Cargill, and Dreyfuss. One of our favorite ways to screen for new ideas is following insider buying. When I saw the Form 4 filed by new Bunge CEO Greg Heckman, his purchase of $9 million of BG stock intrigued me. My initial thought was the company gave him the stock as a signing bonus. I contacted BG Investor Relations and asked whether it was a signing bonus or did Heckman actually write a check for $9 million. IR assured me it was his own hard-earned money that he invested in the company he was about to run.

Heckman was a long time executive at Conagra Foods who obviously sensed opportunity at BG. One of his first moves as CEO was to move the company’s HQ from New York to St. Louis, right in the middle of America’s breadbasket. BG had been plagued for years with poor decisions by underperforming management. Heckman’s decision to move to St. Louis was indicative of a no-nonsense style and he would commence cutting expenses and selling non-core assets…” (Click here to see the full text)