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In economic difficult times, it makes sense to scout for investment opportunities with robust business models and sustainable dividends. Despite the uncertainty, many companies have a good ongoing business operation and they are still confident about the economic future. That's the reason why they have raised dividends. Last week, 37 stocks and funds raised dividends of which 8 have a dividend growth of more than 10 percent. The average dividend growth amounts to 12.29 percent. However, I screened the recent dividend growth stocks by real bargains, measured by a forward P/E ratio of less than 15. These are the detailed results:

1. Great Northern Iron Ore Properties (GNI) has a market capitalization of $97.85 million. The company generates revenues of $26.74 million and has a net income of $23.05 million. The firm's earnings before interest, taxes, depreciation and amortization (EBITDA) amounts to $23.67 million. Because of these figures, the EBITDA margin is 88.51% (operating margin 86.20% and the net profit margin finally 86.20%).

The company has no long-term debt and serves $4.6 million in cash and short-term investments. Last fiscal year, a return on equity of 225.68% was realized. Twelve trailing months earnings per share reached a value of $16.35. Last fiscal year, the company paid $15.00 in form of dividends to shareholders. The company announced to raise dividends by 33.3%.

Here are the price ratios of the company: The P/E ratio is 3.99, Price/Sales 3.66 and Price/Book ratio 9.49. Dividend Yield: 23.00%. The beta ratio is 0.40.

2. Sabine Royalty Trust (SBR) has a market capitalization of $704.77 million. The company generates revenues of $60.69 million and has a net income of $58.56 million. The firm's earnings before interest, taxes, depreciation and amortization (EBITDA) amounts to $58.63 million. Because of these figures, the EBITDA margin is 96.60% (operating margin 96.49% and the net profit margin finally 96.49%).

The company has no long-term debt and serves $6.7 million in cash and short-term investments. Last fiscal year, a return on equity of 1,080.37% was realized. Twelve trailing months earnings per share reached a value of $4.12. Last fiscal year, the company paid $3.97 in form of dividends to shareholders. The company announced to raise dividends by 35.2%.

Here are the price ratios of the company: The P/E ratio is 11.74, Price/Sales 11.61 and Price/Book ratio 122.48. Dividend Yield: 8.40%. The beta ratio is 0.73.

3. Universal Health Realty Income Trust (UHT) has a market capitalization of $502.78 million. The company generates revenues of $29.49 million and has a net income of $73.79 million. The firm's earnings before interest, taxes, depreciation and amortization (EBITDA) amounts to $50.90 million. Because of these figures, the EBITDA margin is 172.58% (operating margin 250.20% and the net profit margin finally 250.20%).

The total debt representing 47.13% of the company's assets and the total debt in relation to the equity amounts to 92.57%. Last fiscal year, a return on equity of 44.15% was realized. Twelve trailing months earnings per share reached a value of $6.26. Last fiscal year, the company paid $2.42 in form of dividends to shareholders. The company announced to raise dividends by 0.8%.

Here are the price ratios of the company: The P/E ratio is 6.34, Price/Sales 17.05 and Price/Book ratio 2.66. Dividend Yield: 6.20%. The beta ratio is 0.62.

4. Flexsteel Industries (FLXS) has a market capitalization of $135.91 million. The company generates revenues of $339.43 million and has a net income of $10.42 million. The firm's earnings before interest, taxes, depreciation and amortization (EBITDA) amounts to $18.55 million. Because of these figures, the EBITDA margin is 5.47% (operating margin 4.67% and the net profit margin finally 3.07%).

The company has no long-term debt and serves $19.3 million in cash and short-term investments. Last fiscal year, a return on equity of 8.46% was realized. Twelve trailing months earnings per share reached a value of $1.74. Last fiscal year, the company paid $0.30 in form of dividends to shareholders. The company announced to raise dividends by 50.0%.

Here are the price ratios of the company: The P/E ratio is 11.49, Price/Sales 0.40 and Price/Book ratio 1.04. Dividend Yield: 3.00%. The beta ratio is 0.59.

5. UnitedHealth Group (UNH) has a market capitalization of $60.17 billion. The company generates revenues of $101,862.00 million and has a net income of $5,142.00 million. The firm's earnings before interest, taxes, depreciation and amortization (EBITDA) amounts to $9,588.00 million. Because of these figures, the EBITDA margin is 9.41% (operating margin 8.31% and the net profit margin finally 5.05%).

The total debt representing 17.14% of the company's assets and the total debt in relation to the equity amounts to 41.14%. Last fiscal year, a return on equity of 19.00% was realized. Twelve trailing months earnings per share reached a value of $4.81. Last fiscal year, the company paid $0.61 in form of dividends to shareholders. The company announced to raise dividends by 30.8%.

Here are the price ratios of the company: The P/E ratio is 12.05, Price/Sales 0.59 and Price/Book ratio 2.13. Dividend Yield: 1.47%. The beta ratio is 0.90.

6. FedEx Corporation (FDX) has a market capitalization of $27.62 billion. The company generates revenues of $39,304.00 million and has a net income of $1,452.00 million. The firm's earnings before interest, taxes, depreciation and amortization (EBITDA) amounts to $4,310.00 million. Because of these figures, the EBITDA margin is 10.97% (operating margin 6.05% and the net profit margin finally 3.69%).

The total debt representing 6.15% of the company's assets and the total debt in relation to the equity amounts to 11.07%. Last fiscal year, a return on equity of 9.98% was realized. Twelve trailing months earnings per share reached a value of $6.42. Last fiscal year, the company paid $0.48 in form of dividends to shareholders. The company announced to raise dividends by 7.7%.

Here are the price ratios of the company: The P/E ratio is 13.63, Price/Sales 0.70 and Price/Book ratio 1.82. Dividend Yield: 0.64%. The beta ratio is 1.24.

Source: 6 Inexpensive Stocks With Recent Dividend Hikes