5 dirt cheap dividend stocks to buy under $5

Highlights

• Inflation fear and market uncertainty have made investors think over their finances and income sources.
• A stock mentioned here zoomed by about 118 per cent over the past year.
• It is of utmost importance that investors have a clear mind about their investment goals and risk endurance before making any financial moves.

Inflation fear and market uncertainty have made investors rethink their finances and income sources. Many, for that matter, have turned to stocks that can fetch them additional income to deal with the unforeseen yet possible money crunch.

5 dirt cheap dividend stocks to buy under $5

That’s where dividend stocks click in.

Here, we have discussed some Canadian dividend stocks that cost less than C$ 5 apiece.

Also read: 5 Canadian bank stocks to buy now as dividend hikes return

 Image source: © 2021 Kalkine Media Inc    

1.    Decisive Dividend Corp (TSXV:DE)

Decisive Dividend Corp, which acquires manufacturing businesses, saw its stocks wrap up trade at C$ 4.10 apiece on Friday, November 5, up by 0.737 per cent.

At this price level, the Kelowna-based conglomerate’s stock price was up by almost eight per cent for the past month.

 Image source: © 2021 Kalkine Media Inc    

On a year-over-year (YoY) basis, its stock price zoomed by about 118 per cent, while marking a year-to-date (YTD) return of almost 85 per cent.

Decisive Dividend Corp is expected to dole out a monthly dividend of C$ 0.025 per share on November 15.

On Monday, November 8, its return on equity (ROE) stood at 6.15 per cent.

2.    Elysee Development Corp (TSXV:ELC)

Elysee Development Corp is an asset management firm that holds diversified investment and venture capital business focused on publicly listed corporates in the natural resource industry.

The Vancouver-headquartered financial service firm’s stock was priced at C$ 0.83 apiece at market close on November 5, up by 1.22 per cent.

ELC stock has jumped up by nearly 11 per cent over the last month. Its quarter-to-date (QTD) gain was almost 17 per cent, while its 12-month return was approximately 68 per cent.

The firm pays C$ 0.03 per share as dividends on a half-yearly basis.

Also read: 5 Canadian bank stocks to buy before their dividends surge

3.    Diversified Royalty Corp (TSX:DIV)

Canadian multi-royalty company Diversified Royalty Corp saw its stock rise by 0.357 per cent to C$ 2.81 on November 5.

DIV stock soared by nearly 12 per cent in the past nine months. On a YTD basis, it grew by about 18 per cent.

The Vancouver-based conglomerate is supposed to disburse a monthly dividend of C$ 0.018 per share on November 30.

Also read: Top 3 Canadian dividend penny stocks to buy before 40

4.    Vitreous Glass Inc (TSXV:VCI)

Alberta-headquartered glass company Vitreous Glass Inc saw its scrips end its trading session at C$ 5.41 apiece on November 5.

At this level, the stock was up by more than six per cent for the past one month and by more than 15 per cent for the last six months.

VCI stock gained roughly 41 per cent on a YTD basis, while it zoomed by more than 54 per cent over the previous year.

Vitreous Glass is set to distribute a quarterly dividend of C$ 0.08 per share on November 15.

It was holding a dividend yield of 5.915 per cent, an ROE of 89.05 per cent and an ROA of 70.13 per cent on November 8.

5.    New Exploration Ltd (TSXV:NWX)

Stocks of Canadian mineral explorer New Exploration Ltd closed at C$ 0.47 apiece on November 5, up by more than two per cent for the last one month.

In the previous three months, it shot up by more than three per cent, while its six-month return stood at roughly 21 per cent.

Over the past year, NWX stock expanded by almost 15 per cent.

On September 10, New Exploration paid a three-month dividend of C$ 0.02 to its investors.

Bottom line

The Canadian equity market has been hitting recorded highs in 2021 despite the pandemic-triggered lockdowns, energy supply crisis, inflation, etc. This has inspired some investors to add newer stocks to their portfolio, including low-cost dividend stocks that can bring them some extra income.

However, it is of utmost importance that investors have a clear mind about their investment goals and risk endurance before making any financial moves.