3 Dirt Cheap Dividend-Paying Value Stocks to Buy Now

Group 1: American Electric Power (AEP) - American Electric Power has a forward dividend yield of 3.5% and has paid dividends every quarter since 1910, making it attractive for dividend-seeking investors [3][5] - The company serves approximately 5.6 million customers across 11 states and has a diverse power generation capacity of 28 gigawatts, including coal, natural gas, nuclear, and renewable energy [4] - Management expects to generate $41.5 billion in operating cash from 2025 to 2029, with$11.1 billion allocated for dividends, indicating strong cash flow management [6] Group 2: Owens Corning - Owens Corning trades at 10 times trailing earnings and has returned $638 million of its$1.25 billion in free cash flow to investors through buybacks and dividends, with a current yield of 1.7% [7] - The company is exposed to the North American residential housing market, which has faced challenges due to high market interest rates affecting mortgage rates [8] - Owens Corning acquired Masonite for $3.9 billion to enhance its position in the residential market and is selling its non-core glass fiber reinforcement business for$755 million to focus on building materials [9][10] Group 3: ConocoPhillips - ConocoPhillips is the most valuable U.S.-based exploration and production company, with expected production of 2.34 to 2.38 million barrels of oil equivalent per day in 2025 [11] - The company plans to increase capital expenditures to the highest level in 10 years to develop its asset base and fund long-term projects, including significant investments in Qatar and Alaska [13] - ConocoPhillips generated $8 billion in free cash flow in 2024, with a dividend yield of 3.1%, making it a solid choice for passive income investors [14][16]