3 High Yield Dividend Stocks You Can Buy For Under $10

High-yield dividend stocks continue to attract attention, promising both steady income and potential capital appreciation. As geopolitical tensions grapple economies worldwide, the stock market has been extremely volatile, as evidenced by the CBOE Volatility Index’s 50% gains year-to-date.

Given this backdrop, investing in affordable stocks with high dividend yields can be beneficial, as investors can bank on steady dividend payouts regardless of the frequent market fluctuations, all without breaking the bank.

Barclays

Despite the volatility that often characterizes the financial sector, Barclays PLC BCS has consistently maintained its position as a reliable dividend stock. The British multinational bank pays 54 cents in dividends annually, yielding 5.74% on its current stock price of $9.35.

While the bank’s financials took a hit last year due to its structural cost-cutting measures, it is currently planning a major overhaul to streamline its operations. The banking giant has set its sights on a comprehensive transformation, highlighted by significant cost reductions, asset divestitures and a restructuring of its core business divisions.

Under this ambitious plan, Barclays will segment its operations into five distinct divisions, a strategic maneuver aimed at enhancing efficiency and focus. The bank is aiming for total gross savings of 2 billion pounds and a robust Return on Tangible Equity surpassing 12% by 2026. Moreover, Barclays is committed to reducing risk exposure within its investment bank, with plans to slash risk-weighted assets to approximately 50% by 2023, down from 58% the previous year.

Additionally, the bank aims to streamline its cost-to-income ratio within the investment bank to the high 50s in percentage terms, a significant improvement from the 69% recorded in the prior year. Barclays has also pledged a staggering 10 billion pounds allocation through dividends and share repurchases between 2024 and 2026, signaling confidence in its future trajectory.

Nokia

In the rapidly evolving telecommunications industry, Nokia NOK has established itself as a prominent player. Despite facing stiff competition, Nokia, currently trading at $3.52, remains a solid dividend stock.

The telecom giant currently pays 13 cents in dividends annually, yielding 3.69% on its current stock price.

“In 2023 we saw a meaningful shift in customer behavior impacting our industry driven by the macro-economic environment and high interest rates along with customer inventory digestion,” Nokia CEO Pekka Lundmark said.

Nokia’s reported net profit showed an increase, reaching 438 million euros compared to 289 million euros in the previous year. Similarly, comparable net profit also witnessed growth, rising to 501 million euros from 342 million euros a year earlier.

Earlier this year, on Jan. 25, 2024, Nokia announced plans to initiate a two-year 600 million euro ($653 million) share buyback program in the current quarter. This strategic move follows the company’s acknowledgment of a profit downturn in the preceding fiscal year of 2023.

Even though JPMorgan has a “neutral” rating for NOK, it has a price target of $4.26, indicating a potential upside of over 21%.

Kinross Gold

Amid rising economic uncertainty and market volatility, gold has long been regarded as a safe-haven asset, offering investors a hedge against inflation and geopolitical risks. With gold prices hovering near their all-time highs of $2,383 per ounce earlier this month, investing in affordable gold stocks like Kinross Gold Corp. KGC could be profitable. Currently trading at $6.77, Kinross Gold pays 12 cents in dividends annually.

“2023 was a great year at Kinross and I am proud of our global team who achieved the results that underpin our reputation as strong operators. We met our production, cost and capital guidance, and completed our projects at Tasiast and La Coipa. Our portfolio of mines produced solid results, we more than doubled free cash flow year-over-year while maintaining our investment grade balance sheet, and we are carrying this momentum into 2024,” Kinross Gold President and CEO J. Paul Rollinson said in its last earnings release. “We expect to deliver another strong year in 2024, producing approximately 2.1 million gold equivalent ounces.”

The Canadian gold mining company offers investors exposure to the potential upside of gold prices while providing a steady stream of dividend income. As geopolitical tensions persist, Kinross Gold remains well-positioned to benefit from sustained demand for gold as a store of value.

A Reliable Income Play Backed By Real Estate Equity

Cityfunds has introduced an exclusive opportunity for accredited investors to secure an impressive 7% – 8% APY by capitalizing on the growing $32.6 trillion home equity market. The Cityfunds Yield fund provides quarterly distributions and is backed by a diversified portfolio of real estate assets, ensuring stable and robust cash flow with a commitment to safety and high returns.

Why the Yield Fund Stands Out

Cityfunds’ Yield fund targets an 8% annual payout with a guaranteed floor of 7%, significantly higher than many traditional investment options. The fund is backed by collateralized real estate loans and home-equity agreement-backed notes. With a redemption option post a 12-month lock-up and a five-year term, this fund not only offers excellent income potential but also provides the flexibility sophisticated investors seek.

Check out the Yield fund.

Cityfunds Available to Non-Accredited Investors

While the Yield fund caters exclusively to accredited investors, Cityfunds offers a variety of other investment opportunities available to all. Whether you’re looking to invest in Dallas, Miami, Los Angeles or one of several other growing markets, each Cityfund is designed to provide investors access to diversified home equity investments across the nation’s top cities. This approach spreads your investment across multiple properties, enhancing portfolio stability and minimizing risk.

Check out the cities you can invest in today.