In the dynamic environment seen in the U.S. stock market in recent months, dividend stocks can offer stability and steady income streams to investors, points out Simply Wall St. Their team has identified three small-cap stocks that could serve as such a safe haven.
Timberland Bancorp
This is the holding company for Timberland Bank and has a market capitalization of $247.5 million. Its net income for the fiscal-2024 third quarter (ended June 30) came in at $5.92 million, or $0.74 per diluted share. This is 6% lower than the same period last year but about 4% higher than the first quarter of 2024.
“We are pleased with our third quarter fiscal year 2024 operating results,” said company CEO Dean Brydon.
Based on the results, Timberland’s board announced a quarterly dividend of $0.24 per share, extending the streak of consecutive quarters with a dividend to 47. The yield of the third-quarter dividend is 3.09%. Timberland also has an ongoing buyback program, with $5.68 million in shares bought back since July 2023, Simply Wall St recalls.
Ituran Location and Control
This Israeli company with a market capitalization of $590 million is listed on the Nasdaq. It offers telematic services and products to manage fleets and to locate and track stolen vehicles. In the second quarter of 2024, Ituran’s revenue rose 4% year over year to $84.87 million. The company noted that the approximately $8 million dividend declared in May was paid out in July, while another dividend of the same size has been announced for October, Simply Wall St reports. The dividend yield is 5.28%.
Penns Woods Bancorp
This holding company for Jersey Shore State Bank, with a market capitalization of $176 million, provides commercial and retail banking services to individuals, nonprofits, and corporations. In the latest earnings report available on its website, for 2023, the company reported net income of $16.6 million, down almost 5% year over year. It offers a dividend yield of 5.81%, according to Nasdaq, with the last, second-quarter dividend of $0.32 per share announced in May and paid out in June.
