Updated on July 31st, 2024 by Bob Ciura
High dividend stocks means more income for every dollar invested. All other things equal, the higher the dividend yield, the better.
In this research report, we analyze 20 stocks tradingbelow $10.00 per share and offeringhigh dividend yields of 5.0% and greater. These stocks are ranked based on their dividend yield, from highest to lowest.
In this article, we will discuss the prospects of 20 stocks that are trading below $10 and are offering a dividend yield above 5.0%. We have ranked these stocks based on their dividend yield, from highest to lowest.
Additionally, the free high dividend stocks list spreadsheet below has our full list of individual securities (stocks, REITs, MLPs, etc.) with with 5%+ dividend yields.
Click here to instantly download your free high dividend stocks spreadsheet now, along with important investing metrics.
Keep reading to see analysis on these 20 high-yielding securities trading below $10.00 per share.
Table of Contents
- Low-Priced High Dividend Stock #1: TriplePoint Venture Growth BDC (TPVG)
- Low-Priced High Dividend Stock #2: Orchid Island Capital (ORC)
- Low-Priced High Dividend Stock #3: Uniti Group (UNIT)
- Low-Priced High Dividend Stock #4: Oxford Square Capital (OXSQ)
- Low-Priced High Dividend Stock #5: Ellington Credit Co. (EARN)
- Low-Priced High Dividend Stock #6: Prospect Capital (PSEC)
- Low-Priced High Dividend Stock #7: Ares Commercial Real Estate Corporation (ACRE)
- Low-Priced High Dividend Stock #8: AGNC Investment Corporation (AGNC)
- Low-Priced High Dividend Stock #9: Sachem Capital (SACH)
- Low-Priced High Dividend Stock #10: Global Net Lease (GNL)
- Low-Priced High Dividend Stock #11: New York Mortgage Trust (NYMT)
- Low-Priced High Dividend Stock #12: Medical Properties Trust (MPW)
- Low-Priced High Dividend Stock #13: Brandywine Realty Trust (BDN)
- Low-Priced High Dividend Stock #14: Vodafone plc (VOD)
- Low-Priced High Dividend Stock #15: Fortitude Gold Corp. (FTCO)
- Low-Priced High Dividend Stock #16: Clipper Realty (CLPR)
- Low-Priced High Dividend Stock #18: Global Medical REIT (GMRE)
- Low-Priced High Dividend Stock #19: Generational Income Properties (GIPR)
- Low-Priced High Dividend Stock #20: Itau Unibanco Holding (ITUB)
Low-Priced High Dividend Stock #1: TriplePoint Venture BDC (TPVG) – Dividend Yield of 17.9%
TriplePoint Venture Growth BDC Corp specializes in providing capital and guiding companies during their private growth stage, before they eventually IPO to the public markets.
Source: Investor Presentation
On May 1st, 2024, the company posted its Q1 results. For the quarter, total investment income of $29.3 million compared to $33.6 million in Q1-2023.
The decrease in total investment was primarily due to a lower weighted average principal amount outstanding on the BDC’s income-bearing debt investment portfolio. The number of portfolio companies fell from 59 last year to 49.
The company’s weighted average annualized portfolio yield came in at 15.4% for the quarter, up from 14.7% in the prior-year period.
Also during Q1, the company funded $13.5 million in debt investments to three portfolio companies with a 14.3% weighted average annualized yield at origination.
Click here to download our most recent Sure Analysis report on TPVG (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #2: Orchid Island Capital (ORC) – Dividend Yield of 17.6%
Orchid Island Capital, Inc. is a mortgage REIT that invests in residential mortgage-backed securities (RMBS), including pass-through and structured agency RMBSs.
These financial instruments generate cash flow based on residential loans such as mortgages, subprime, and home-equity loans.
Source: Investor Presentation
Orchid Island reported its first-quarter 2024 results, revealing a net income of $19.8 million, equivalent to $0.38 per common share. This figure includes net interest expense of $2.5 million, or $0.05 per common share, and total expenses of $3.7 million, or $0.07 per common share.
The company recorded net realized and unrealized gains of $26.0 million, or $0.50 per common share, on RMBS and derivative instruments, inclusive of net interest income on interest rate swaps.
Click here to download our most recent Sure Analysis report on Orchid Island Capital, Inc. (ORC)(preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #3: Uniti Group (UNIT) – Dividend Yield of 16.2%
Uniti Group focuses on acquiring, constructing, and leasing out communications infrastructure in the United States.
In particular, it owns millions of miles of fiber strand along with other communications real estate.
Source: Investor Presentation
Uniti Group reported solid results for the first quarter of 2024, with consolidated revenues reaching $286.4 million. Net income stood at $41.3 million, and adjusted EBITDA amounted to $228.6 million, achieving adjusted EBITDA margins of approximately 80%. The core recurring strategic fiber business grew by 4% compared to the same period in 2023.
Uniti Fiber contributed $68.8 million in revenues and $23.8 million in Adjusted EBITDA for the quarter, while Uniti Leasing contributed $217.6 million in revenues and $210.7 million in Adjusted EBITDA.
Click here to download our most recent Sure Analysis report on UNIT (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #4: Oxford Square Capital (OXSQ) – Dividend Yield of 14.0%
Oxford Square Capital Corp. is a BDC specializing in financing early and middle–stage businesses through loans and CLOs.
The company holds an equally split portfolio of First–Lien, Second–Lien, and CLO equity assets spread across multiple industries, with the highest exposure in software and business services.
Source: Investor Presentation
On May 2nd, 2024, Oxford Square reported its Q1 results for the period ending March 31st, 2024. For the quarter, the company generated approximately $10.7 million of total investment income, down from $12.3 million in the previous quarter.
The weighted average cash distribution yield of its cash income producing CLO equity investments at current also rose sequentially from 13.6% to 13.7%.
Click here to download our most recent Sure Analysis report on OXSQ (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #5: Ellington Credit Co. (EARN) – Dividend Yield of 14.6%
Ellington Credit Co. acquires, invests in, and manages residential mortgage and real estate related assets. Ellington focuses primarily on residential mortgage-backed securities, specifically those backed by a U.S. Government agency or U.S. government–sponsored enterprise.
Agency MBS are created and backed by government agencies or enterprises, while non-agency MBS are not guaranteed by the government.
On May 14th, 2024, Ellington Residential reported its first quarter results for the period ending March 31st, 2024. The company generated net income of $4.0 million, or $0.20 per share.
Ellington achieved adjusted distributable earnings of $5.3 million in the quarter, leading to adjusted earnings of $0.27 per share, which covered the dividend paid in the period. Ellington’s net interest margin was 3.03% overall.
Click here to download our most recent Sure Analysis report onEARN (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #6: Prospect Capital Corporation (PSEC) – Dividend Yield of 13.2%
Prospect Capital Corporation is a Business Development Company, or BDC, that provides private debt and private equity to middle–market companies in the U.S.
The company focuses on direct lending to owner–operated companies, as well as sponsor–backed transactions. Prospect invests primarily in first and second lien senior loans and mezzanine debt, with occasional equity investments.
Source: Investor Presentation
Prospect posted third quarter earnings on May 8th, 2024. Net investment income came to $94.4 million, off from just under $97 million in the December quarter, and down from $102.2 million a year ago.
As a percentage of total net investment income, interest income was 91%, slightly lower than prior quarters.
On a per-share basis, NII came to 23 cents, down from 24 cents in the December quarter, and down from 26 cents in the March period a year ago.
NAV declined from $9.48 in the March quarter last year to $8.99, but up slightly from $8.92 in the December quarter.
Click here to download our most recent Sure Analysis report on PSEC (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #7: Monroe Capital Corp. (MRCC) – Dividend Yield of 12.8%
Monroe Capital Corporation provides financing solutions primarily to lower middle-market companies in the United States and Canada.
The company primarily invests in senior and “unitranche” secured loans ranging between $2.0 million and $25.0 million each. It generates nearly $57 million annually in total investment income.
Source: Investor Presentation
On May 8th, 2024, Monroe Capital Corporation reported its Q1 results. Total investment income for the quarter came in at $15.2 million, compared to $15.5 million in the previous quarter.
The weighted average portfolio yield fell during the quarter, from 12.1% to 11.9%, though it remained rather high as a result of an elevated interest rates environment.
A slightly higher number of portfolio companies, which grew from 96 to 98 also impacted total investment income. Net investment income per share came in at $0.25, stable from last quarter’s $0.25.
Click here to download our most recent Sure Analysis report on MRCC (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #8: Ares Commercial Real Estate Corporation (ACRE) – Dividend Yield of 12.8%
Ares Commercial Real Estate Corporation is a specialty finance company primarily engaged in originating and investing in commercial real estate (“CRE”) loans and related investments. ACRE generated around $198.6 million in interest income last year.
The company’s loan portfolio (98% of which are senior loans) comprises 44 market loans across 8 asset types, with an outstanding principal balance of $2 billion. The majority of the loans are tied to multifamily, office, and mixed-use properties.
Source: Investor Presentation
In terms of geographical diversification, ACRE’s exposure features a healthy mix between the Southeast, West, and Midwest.
On May 9th, 2024, ACRE reported its Q1 results for the period ending March 31st, 2024. Interest income came in at $44.0 million, 11% lower year-over-year.
The decline was due to the company’s loans struggling to perform as higher rates of inflation and certain cultural shifts such as work-from-home trends continue to impact the operating performance and the economic values of commercial real estate.
Click here to download our most recent Sure Analysis report on ACRE (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #9: Sachem Capital (SACH) – Dividend Yield of 12.5%
Sachem Capital Corp is a Connecticut-based real estate finance company that specializes in originating, underwriting, funding, servicing, and managing a portfolio of short-term (i.e., three years or less) loans secured by first mortgage liens on real property located primarily in Connecticut.
Each of Sachem’s loans is personally guaranteed by the principal(s) of the borrower, which is typically collaterally secured by a pledge of the guarantor’s interest in the borrower. Sachem generates around $65 million in total revenues.
Source: Investor Presentation
On April 1st, 2024, Sachem Capital Corp. announced its full-year results for the period ending December 31st, 2023. Total revenues for the year came in at $65.6 million, up 25.5% compared to FY-2022.
Revenue growth was driven by growth in size of the company’s mortgage portfolio and increases in rates charged to borrowers.
Click here to download our most recent Sure Analysis report on SACH (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #10: Global Net Lease (GNL) – Dividend Yield of 12.4%
Global Net Lease invests in commercial properties in the U.S. and Europe with an emphasis on sale-leaseback transactions. GNL’s portfolio includes over 1300 properties, spanning nearly 67 million square feet with a gross asset value of $9.2 billion.
Global Net Lease released its financial and operational results for the first quarter of 2024, showcasing several notable highlights. Despite a slight decrease in revenue to $206.0 million compared to the previous quarter’s $206.7 million, the company reported significant improvements elsewhere.
Net loss attributable to common stockholders notably decreased to $34.7 million from $59.5 million in the fourth quarter of 2023.
Core Funds from Operations (Core FFO) surged by 17% to $56.6 million, while Adjusted Funds from Operations (AFFO) increased by 5% to $75.0 million. AFFO per diluted share also grew by 6% to $0.33 in the first quarter of 2024.
The company closed and disposed of assets totaling $554 million, with a cash cap rate of 7.2% on occupied assets and a weighted average remaining lease term of 3.9 years.
Click here to download our most recent Sure Analysis report on Global Net Lease (GNL) (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #11: New York Mortgage Trust (NYMT) – Dividend Yield of 12.1%
New York Mortgage Trust is a REIT that acquires, invests in, finances, and manages mortgage-related assets and other financial assets. The trust doesn’t own physical real estate, but rather seeks to manage a portfolio of investments that are real estate related.
New York Mortgage Trust derives revenue from net interest income and net realized capital gains from its investment portfolio. The trust primarily seeks to generate interest income from mortgage-related assets, but it also owns some distressed financial assets where it seeks to capture capital gains.
The trust invests in residential mortgage loans, multi-family CMBS, preferred equity, and joint venture equity.
New York Mortgage Trust posted first quarter earnings on May 1st, 2024, and results were quite weak. Earnings-per-share came to a loss of 75 cents, which was a staggering 89 cents off from expectations. Revenue was essentially flat at $17.9 million, but missed by almost $5 million.
The trust’s average earning assets yield is now just 6.38%, meaning the trust is struggling to even cover its cost of capital, which is crimping its ability to generate earnings. Indeed, net interest spread was just 1.31% in the first quarter given moves in market interest rates.
Click here to download our most recent Sure Analysis report on NYMT (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #12: Medical Properties Trust (MPW) – Dividend Yield of 12.0%
Medical Properties Trust is the only pure-play hospital REIT today. It owns a portfolio of over 400 properties which are leased to over 30 different operators.
The majority of the assets are general acute care hospitals, but also include inpatient rehabilitation and long-term acute care.
The portfolio of assets is also diversified across different geographies with properties in 29 states, as well as Germany, the UK, Italy, and Australia.
Source: Investor Presentation
Medical Properties Trust, Inc. (MPW) announced its financial and operational results for the first quarter. The company executed total liquidity transactions of $1.6 billion year-to-date, reaching 80% of its initial FY 2024 target.
Despite recording a net loss of ($1.23) per share and Normalized Funds from Operations (NFFO) of $0.24 per share in the first quarter of 2024.
Click here to download our most recent Sure Analysis report on MPW (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #13: Brandywine Realty Trust (BDN) – Dividend Yield of 11.8%
Brandywine Realty owns, develops, leases and manages an urban town center and transit-oriented portfolio which includes 163 properties in Philadelphia, Austin, and other cities.
The REIT generates most of its operating income in Pennsylvania, with the remainder in Austin, TX and various other markets.
Source: Investor Presentation
On 4/17/24, Brandywine Realty Trust reported results for the first quarter of fiscal 2024. Occupancy fell sequentially from 88.0% to 87.7% and funds from operations (FFO) per share fell -11%, from $0.27 to $0.24.
It was the sixth quarter in a row in which the impact of high interest rates on interest expense was evident. Interest expense grew 11% year-over-year. As the REIT faces debt maturities, it has to issue new debt at high interest rates.
Click here to download our most recent Sure Analysis report on BDN (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #14: Vodafone Group plc (VOD) – Dividend Yield of 10.5%
Vodafone Group began operations in 1984 as an early provider of cell phone service in the UK. Today, the company is one of the world’s largest mobile communications providers, serving more than 650 million customers in 26 countries.
Its immense scale and reach are evident in its ~$47 billion in annual revenue. Vodafone is listed in both London and New York; we’ll be referring to the New York-listed ADR in this report and all financials will be presented in U.S. dollars.
Vodafone posted fourth quarter and full-year earnings on May 14th, 2024, and results were somewhat weak. The company posted adjusted earnings-per-share of eight cents for the fourth quarter, while full-year earnings came to 81 cents per share. Revenue was off 2.5% year-over-year to $39.8 billion in Q4.
Adjusted free cash flow fell 37.2% to $2.8 billion for the year, which fell from $4.5 billion in fiscal 2023. Adjusted EBITDAaL, which is a pro forma profit measure Vodafone tracks, was up 2.2% on an organic basis as good service revenue progress was partially offset by higher energy costs.
Click here to download our most recent Sure Analysis report on Vodafone (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #15: Fortitude Gold Corp. (FTCO) – Dividend Yield of 10.5%
Fortitude Gold is a junior gold producer with operations in Nevada, U.S.A, one of the world’s premier mining friendly jurisdictions. The company targets high-grade gold open pit heap leach operations averaging one gram per tonne of gold or greater.
Its property portfolio currently consists of 100% ownership in six high-grade gold properties. All six properties are within an approximate 30-mile radius of one another within the prolific Walker Lane Mineral Belt.
Source: Investor Presentation
On May 7th, 2024, Fortitude Gold posted its Q1 results. For the quarter, revenue came in at $8.2 million, 62% lower compared to last year. The decline in revenue was driven by a 65% drop in ounces of gold sold.
However, a 19% increase in ounces of silver sold, combined with 10% higher gold and 2% higher silver prices, slightly offset this setback.
The company recorded a mine gross profit of $4.2 million compared to $12.3 million last year due to lower net sales.
Click here to download our most recent Sure Analysis report on FTCO (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #16: Clipper Realty (CLPR) – Dividend Yield of 9.6%
Clipper Properties owns commercial (primarily multifamily and office with a small sliver of retail) real estate across New York City.
For the first quarter ending March 31, 2024, CLPR reported record quarterly revenue of $35.8 million and income from operations reaching $9.1 million, alongside record net operating income (NOI) of $20.2 million.
Despite this, the company reported a quarterly net loss of $2.7 million, though adjusted funds from operations (AFFO) stood strong at $5.9 million.
Revenue increased by $2.1 million, driven by higher rental rates across residential properties. However, commercial income slightly decreased due to expiring leases.
The net loss for the quarter improved compared to the previous year, primarily due to factors like increased rental revenue and lower real estate taxes.
Click here to download our most recent Sure Analysis report on CLPR (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #17: B&G Foods (BGS) – Dividend Yield of 8.8%
B&G Foods was created in the late 1990s with the initial purpose of acquiring Bloch & Guggenheimer, who sold pickles, relish, and condiments. Bloch was founded in 1889. Last year, the company had just over $2 billion in sales.
Some of the company’s well-known brands include Green Giant, Ortega, Cream of Wheat, Mrs. Dash, and Back to Nature, with over 50 brands in total. The product portfolio focuses on shelf-stable, frozen and snack brands.
You can see an image of the company’s five-year financial performance below:
Source: 2023 Annual Report
B&G Foods reported first-quarter 2024 results on May 8th, 2024. Quarterly revenue of $475 million declined 7% year-over-year, due mostly to lower volume and the divestiture of the Green Giant U.S. shelf-stable product line.
Adjusted earnings-per-share declined 33% year-over-year, to $0.18 per share.
B&G Foods also reduced 2024 guidance, and now expects net sales in a range of $1.955 billion to $1.985 billion (from $1.975 billion to $2.020 billion previously), and adjusted EPS between $0.75 to $0.95 (from $0.80 to $1.00 previously).
Click here to download our most recent Sure Analysis report on BGS (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #18: Global Medical REIT (GMRE) – Dividend Yield of 8.8%
Global Medical REIT Inc. is a net-lease medical office REIT that acquires specialized healthcare facilities, which it leases to national healthcare systems and industry-leading physician groups. Its portfolio consists of gross investments in real estate worth around $1.4 billion.
They comprise 185 facilities with an aggregate of 4.7 million leasable square feet (LSF) and an aggregate of $114.9 million worth of annualized base rent. Around 68% of the REIT’s LSF contains Medical Office Buildings (MOB), 19% Inpatient Rehab Facilities (IRF), 4% surgical facilities, while the rest 9% houses other specialized facilities.
On May 7th, 2024, Global Medical reported its Q1 results for the period ending March 31st, 2024. Revenues came in at nearly $35.1 million, a 3.1% decline year-over-year.
The decline reflects the company’s property dispositions completed during the first nine months of 2023. AFFO fell by 3.1% to $16.5 million due to lower revenues despite lower interest expenses as a result of deleveraging. On a per-share basis, AFFO came in one cent lower, at $0.22.
Click here to download our most recent Sure Analysis report on Global Medical REIT (GMRE)(preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #19: Generation Income Properties (GIPR) – Dividend Yield of 8.2%
Generation Income Properties, Inc. is an internally managed REIT focused on acquiring and managing income-producing retail, office, and industrial properties.
At the end of the year, 96% of the company’s portfolio was leased, with all rents due collected.
On April 9th, 2024, Generation Income reported its full-year results for the period ending December 31st, 2023. For the year, total revenues from operations came in at $7.63 million as compared to $5.43 million in the prior-year period.
This represents a year-over-year increase of 40%, mainly driven by property acquisitions. Operating expenses, including G&A, came in at $11.1 million, up from $7.9 million last year.
Core AFFO came in at $534,000, or $0.21 per share, compared to roughly $157,000, or $0.18 per share, in the previous year.
Click here to download our most recent Sure Analysis report on GIPR (preview of page 1 of 3 shown below):
Low-Priced High Dividend Stock #20: Itau Unibanco (ITUB) – Dividend Yield of 8.2%
Itaú Unibanco Holding S.A. is a bank headquartered in Sao Paulo, Brazil. The bank has operations across South America and other places like the United States, Portugal, Switzerland, China, Japan, etc.
On May 6th, 2024, Itaú Unibanco reported first-quarter results for 2023. The company showcased significant financial growth, with a recurring managerial result totaling $1.9 billion, marking a notable 15.8% increase compared to the previous year. This surge was supported by an annualized recurring managerial return on average equity of 21.9%.
Key drivers behind these impressive results included an augmented financial margin with clients, attributed to a larger loan portfolio and improved margins on liabilities, as well as increased commissions, fees, and profits from insurance operations.
Click here to download our most recent Sure Analysis report on ITUB (preview of page 1 of 3 shown below):
Final Thoughts
When a stock offers an exceptionally high dividend yield, it usually signals that its dividend is at the risk of being cut. This rule certainly applies to most of the above stocks.
Nevertheless, some of the above stocks are highly attractive now thanks to their cheap valuation and still-high yield even after a potential reasonable dividend cut.
If you are interested in finding high-quality dividend growth stocks and/or other high-yield securities and income securities, the following Sure Dividend resources will be useful:
High-Yield Individual Security Research
- 20 Highest Yielding Monthly Dividend Stocks
- 10 Super High Dividend REITs
- 5 Highest Yielding Royalty Trusts
Other Sure Dividend Resources
- Dividend Kings: 50+ years of rising dividends
- Dividend Champions: 25+ years of rising dividends
- Dividend Aristocrats: 25+ years of rising dividends and in the S&P 500
- Dividend Achievers: 10+ years of rising dividends and in the NASDAQ
- Monthly Dividend Stocks: Individual securities that pay out every month
- MLPs: List of MLPs and more
- REITs: List of REITs and more
- BDCs: List of BDCs and more
Thanks for reading this article. Please send any feedback, corrections, or questions to [email protected].
