Income stocks are not necessarily the blue chip stocks (is there such a thing any more?) or the higher priced stocks. There are plenty of dividend paying stocks under $10 a share and even several under $5 a share. WallStreetNewsNetwork.com turned up a list of seven low priced stocks with yields above 3.5% and low or no debt, all of which have been paying dividends regularly for the last few years.
A couple of the items on the list are closed end funds, also known as CEFs, such as Credit Suisse Asset Management Income Fund Inc. (NYSEMKT:CIK), which currently trades for less than 3.60 per share and yields 8.9%. It is debt free.
In terms of regular companies, Euroseas, Ltd. (NASDAQ:ESEA) is a dry bulk shipper that transports iron ore, coal and grains. The company has a debt to capital ratio of 24% and yields 5.3%. The stock currently trades for less than 3.85 per share.
To see a sortable list of the rest of the top yielding stocks under $5 per share, including one that yields more than 10%, go to WallStreetNewsNetwork.com.
Disclosure: Author does not own any of the above.