The Smartest Dividend Stocks to Buy With $600 Right Now

If you're investing in companies for the dividends they pay, you're actually better off when prices go down.

Why? It means you get more dividend income for your money. Yes, dividend stocks can decline for good reasons, but as long as the business fundamentals remain intact, low prices generally mean higher returns in the future.

Despite the broader stock market's strong performance over the past few years, there are pockets of value where investors can still find good deals. Here are five rock-solid dividend stocks trading at attractive prices right now.

You can invest in all five for just $600. It could be the smartest way to invest your money right now.

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1. Coca-Cola

Iconic beverage giant The Coca-Cola Company (NYSE: KO) has continued to live up to its stellar reputation as a buy-and-hold-forever dividend stock. Not only is Coca-Cola continuing to build on its 62-year dividend growth streak, but the business is also performing well. Coca-Cola's recent earnings report showcased steady 5% revenue growth and 6% earnings growth.

The stock currently trades at a price-to-earnings (P/E) ratio of 28 times its estimated 2025 earnings. Meanwhile, analysts estimate that Coca-Cola will grow its earnings by 6% to 7% annually moving forward. That's not a bargain, but it's arguably a fair price as investors tend to pay a premium for Coca-Cola's consistency. History has shown that owning the stock and reinvesting dividends can be a wise strategy over a few decades.

2. Campbell's

There is far more to The Campbell's Company (NASDAQ: CPB) than its namesake soup brand. Management has remade Campbell's product portfolio, expanding beyond soup and adding new brands to position the company for future growth. Today, Campbell's sells a diverse portfolio of pantry and snack food brands, including Prego, V8, Goldfish, Lance, Pepperidge Farm, and more.

Campbell's transition over the past few years and lagging growth have weighed on the stock price, pushing its dividend yield to a whopping 5%. The company is now targeting long-term annualized earnings growth of 7% to 9% on low-single-digit sales growth. If it delivers, the stock could do very well from its current valuation, trading at only 12 times 2025 earnings estimates.

3. Corteva

Agriculture is a pillar in a world where the population continues to grow. Corteva (NYSE: CTVA) is an agricultural science company that develops and sells seeds, insecticides, and other crop protection products. It operates in 110 countries and is a global staple in helping feed the global population. The stock yields 1.1% and has ample room to grow thanks to a modest dividend payout ratio that's just 22% of 2025 earnings estimates.

Corteva will soon become two independent companies, following a pending stock spinoff of its seeds business that could take place by year-end. It could be smart to buy shares now, while the stock still trades at an attractive price. Corteva trades at under 20 times its 2025 earnings estimates, despite analysts calling for over 13% annualized earnings growth over the next three to five years.

4. Salesforce

Some investors fear that artificial intelligence (AI) will render some software products obsolete. The fear has impacted Salesforce (NYSE: CRM); shares have declined by 25% over the past year. However, AI could actually be an opportunity. Salesforce has a massive user base of corporate clients and has integrated AI features across its technology platform so customers can use AI in their own businesses.

The stock has slipped to a P/E ratio of just 21 times 2025 earnings estimates, a potential bargain if Salesforce can grow its earnings at an annualized rate of nearly 14% as analysts anticipate. The company is also a new dividend payer, having initiated a dividend recently. The yield is small at 0.7%, but it has plenty of room to grow, at just 15% of earnings. Buying shares as a contrarian investment could look like a brilliant move down the road.

5. Hershey

Confectionery giant The Hershey Company (NYSE: HSY) is renowned for its namesake chocolate and other American favorites. The stock has outperformed the market over its lifetime, but has endured a steep decline over the past few years. Surging cocoa prices, driven by climate and crop disease, have crushed the company's net profit margin. Hershey's dividend yield has climbed to 3.2%, and management refrained from raising the payout amid the company's current challenges.

While the stock trades at a lofty 28 times this year's earnings estimates, it may not be as expensive as it seems. Cocoa prices have stabilized and begun to decline over the past year, and Hershey's earnings should rebound with that. The stock trades at just 18 times last year's earnings, far below its historical average of 26 times earnings. Now could be a brilliant time to buy this longtime compounder before Hershey's rebound is more obvious.

Justin Pope has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Hershey and Salesforce. The Motley Fool recommends Campbell's. The Motley Fool has a disclosure policy.