Top dividend stocks under US$ 30 to explore during a market downturn

Highlights:

• Old Republic International Corporation (NYSE: ORI) has been paying uninterrupted dividends since 1942.
• Evolution Petroleum Corporation has a market cap of US$ 229.10 million.
• Bassett Furniture Industries Inc. (NASDAQ: BSET) was founded in 1902. 

Investors often explore dividend-paying companies as they generate passive income. For investors, dividend stocks could be an option during a market downturn. In 2022, the markets have remained volatile, and some analysts believe that the world might continue to witness economic uncertainty.

Let us explore four dividend stocks picked by Kalkine Media® and see their performances recently:

Old Republic International Corporation (NYSE: ORI)

Old Republic is a US property insurance company offering various insurance products to institutions and individual clients. The company has a market cap of US$ 7.7 billion.

The company has been paying dividends since 1942 without any gap. Its current annualized dividend rate is US$ 0.92.

The last closing price of ORI stock was US$ 24.61 as of August 19, with a share volume of 3,028,703. Shares of Old Republic grew 1.19 per cent year-to-date. Over the last month, ORI stock gained 9.71 per cent.

Old Republic International Corporation posted US$ 25,295.4 million in net assets for the second quarter of 2022. It was US$ 24,981.8 million in the quarter ended December 31, 2021.

The revenue for the second quarter of fiscal 2022 was US$ 1,810.3 million, compared to US$ 2,253.7 million in Q2 2021.

Evolution Petroleum Corporation Inc. (NYSE: EPM)

Evolution Petroleum Corp is a US oil and gas company primarily engaged in acquiring, exploiting, and developing sites for crude oil and natural gas production.

The last closing price of the EPM stock was US$ 6.79 on August 19, 2022, with a share volume of 222,538.

The US$ 229.10 million company Evolution Petroleum paid a quarterly dividend of US$ 0.1. Its earnings-per-share (EPS) was US$ 0.6.

EPM stock surged over 31 per cent year-to-date (YTD). It increased close to 12 per cent over the past month. The company said it produced 5,579 net barrels of oil equivalent per day in the third quarter of 2022.

Evolution Petroleum's Q3 2022 revenue was US$ 25.7 million, while the net income was US$ 5.7 million. The oil production company generated an adjusted EBITDA of US$ 12.3 million in Q3 2022.

Bassett Furniture Industries Inc. (NASDAQ: BSET)

Furniture manufacturer and retailer Bassett Furniture Industries is headquartered in Bassett, Virginia. It is one of oldest furniture manufacturing companies and has a market cap of US$ 190.5 million. The firm announced a quarterly dividend of US$ 0.16; the next payable date is August 26, 2022.

Its price-to-earnings (P/E) ratio is 3.25. The last closing price of BSET stock was US$ 20.60 on August 19, 2022, with a share volume of 109,166.

The BSET stock has risen 20.35 per cent in 2022 so far. On a year-over-year basis, BSET gained 0.98 per cent.

Bassett Furniture posted a 17 per cent increase in its revenue and a 55.4 per cent increase in operating profit for the second quarter of 2022, compared to the year-ago quarter.

It reported a net income of US$ 47.11 million in Q2 2022, while it was US$ 5.9 million in the same period in 2021. For the quarter ended May 28, 2022, Bassett Furniture reported total assets of US$ 22.2 million.

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Myers Industries Inc. (NYSE: MYE)

Myers Industries manufactures various polymer products catering to the industrial, automotive, agricultural, commercial, and consumer markets. It is also the largest distributor of tools, equipment, and supplies for the US tire, wheel, and under-vehicle service industry.

Based out of Akron, Ohio, Myers Industries has a market valuation of US$ 799.02 million. Myers Industries distributes a quarterly dividend of US$ 0.135.

The last closing price of MYE stock was US$ 21.91 on August 19, 2022, with a share volume of US$ 388.119.

The MYE stock surged close to 11 per cent year-to-date. Over the last six months, MYE stock rose more than 28 per cent.

In its Q2 2022 results, Myers Industries said that its net sales rose 24 per cent to US$ 233.2 million, compared with US$ 187.4 million for the second quarter of 2021.

Its adjusted EBITDA also increased 41 per cent to US$ 28.9 million in Q2 2022 compared with US$ 20.5 million for the same quarter of 2021.

Bottom line:

Dividend payouts by companies are a huge draw for investors. Investors gain some returns from dividends, even when the market is down. However, investors should analyze the fundamentals of stocks before picking, especially when the market is bearish and volatile.