3 Great Dividend Stocks to Buy for Those With $175 or Less to Invest

Dividend Stocks Overview - Dividend stocks are affordable and suitable for beginners, allowing for steady growth of dividend income through additional share purchases [1] - Several dividend stocks cost less than $175 per share, including EastGroup Properties, Mid-America Apartment Communities, and Extra Space Storage, offering growing passive income streams [2] EastGroup Properties (EGP) - EastGroup Properties has paid 179 consecutive quarterly dividends and increased its payout for 29 out of 32 years, with a recent 10.2% increase to $1.40 per share quarterly ($5.60 annually) [3] - The stock price is around $172 per share, yielding a 3.3% dividend, more than double the S&P 500's 1.2% yield [4] - The company has invested $3 billion to develop 263 properties, focusing on business park settings and value-add opportunities in Sun Belt cities, driving portfolio and rental income growth [5] Mid-America Apartment Communities (MAA) - MAA has paid 123 consecutive quarterly dividends, raising its payout for 14 consecutive years, including a 5% increase to $1.47 per share quarterly ($5.88 annually) in December [6] - The stock price is around $161 per share, yielding a 3.7% dividend [7] - MAA focuses on Sunbelt metro areas with strong employment growth and is investing over $450 million in five properties and nearly $1 billion in eight development projects to expand its portfolio and rental income [8] Extra Space Storage (EXR) - Extra Space Storage has increased its dividend by nearly 250% over the past decade, with an 8% raise in February 2023 [9] - The stock price is under $169 per share, yielding a 3.9% dividend [10] - The company leads the U.S. self-storage sector with a 14% market share, growing through acquisitions, including a $15 billion merger with Life Storage, and investments in third-party management and bridge loans [11] Conclusion - EastGroup Properties, MAA, and Extra Space Storage have strong dividend payment records and relatively affordable stock prices, making them attractive for building stable and rising dividend income streams [12]