NWF, VTL, JLG: 3 dividend paying penny stocks on investors’ watchlist

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NWF, VTL, JLG: 3 dividend paying penny stocks on investors’ watchlist

 NWF, VTL, JLG: 3 dividend paying penny stocks on investors’ watchlist
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Highlights

  • Dividend penny stocks are a good option for an investor looking to diversity his portfolio
  • Penny stocks are small cap companies
  • It is not very often that small cap companies pay dividends to the shareholders

For an investor looking to diversify his portfolio, the dividend-paying penny stocks can be a steal. While penny stocks are companies with low market cap and trading under NZ$1, dividends are a consistent payout from companies to their shareholders.  Dividends keep the shareholders insulated from the market volatility.

Let’s see how these 3 NZX-listed penny stocks that pay dividends as well faring.

 NZ, Stocks, NWF, dividends, penny

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NZ Wind Farms Limited  (NZX:NWF)

NWF is a specialist in wind farm energy with major revenue coming from sustainably generated energy. Its market cap is around NZ$55 million and the stock has been down by 12% in the last three months.  It is a dividend paying company. Last interim unimputed dividend of 2.30 cps was paid on 4 April 2022. The ex-dividend date was 3 March. NWF has been paying two interim and a final dividend every year to its shareholders. The gross dividend yield works out to 4.26%.

On 4 May, the stock was trading down by 0.53% at NZ$ 0.189, at the time of writing.

Related Read: CEN, MEL, MCY: 3 NZX-listed energy stocks that can be explored in May

Vital Limited (NZX:VTL)

VTL is a provider of technology and infrastructure throughout NZ. Its market cap is 12 million. The last dividend paid by the Company was a 2.0 cps which was paid on 15 October 2021 to the shareholders. It has been giving one dividend per year but hasn’t announced any dividend for 2022.  The gross dividend yield works out be more than 8.96%.

Also Read: SPK, CNU, VTL- 3 NZX telcos to watch out for

Related article; New Zealand’s 6 stock market news one should not miss - NZL, ARV, MCY, VTL, SKC, ANZ

Just Life Group Limited (NZX:JLG)

Just Life Group provides water and water related services to individuals and private bodies. It paid an interim dividend of 1.00cps on 24 March. The ex-dividend date is 16 March. JLG also operates a Dividend Reinvestment Plan where shareholders can receive their dividends in shares in lieu of cash dividends. The DRP issue price was determined according to weighted average sale price for all the Company’s ordinary shares sold on the NZX on the 10th business days before relevant record date, less a discount of 2.5%.

Related Read: Are penny stocks good for beginners? A look at 10 related NZX stocks

On 4 May 2022, the stock was trading flat at NZ$0.560, at the time of writing.

Bottom Line

Undeterred by the COVID-19 related disruptions, many small cap companies have continued to reward their shareholders with dividends.

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