My 3 Best Dividend Stocks To Buy In October

Best Dividend Stocks to Buy No. 3: Mercury General Insurance

Right now, Mercury General Insurance (NYSE: MCY) is yielding 6.06%.

Insiders own 49% of this top dividend stock. The founder of the firm has been with the company since 1961 and is the chair of the board. He owns 34% of this dividend aristocrat and is responsible for over 25 years of consecutive annual dividend increases.

Mercury General is in the property and casualty insurance business and primarily sells auto and homeowner insurance. It's not the most exciting stock in the world. It just plugs along, selling insurance and paying the dividend.

When Chair George Joseph passes away (he is 98 years old), we may see this company go on the auction block, and that could get very exciting very quickly.

In the meantime, we will cash dividend checks every quarter.

Best Dividend Stocks to Buy No. 2: B. Riley Financial Inc.

B. Riley Financial Inc. (NASDAQ: RILY) is a little more exciting.

This firm is in the brokerage and money management business. B. Riley offers investment banking, corporate finance, consulting, financial advisory, research, securities lending, wealth management, and sales and trading services to corporate, institutional, and high net worth clients.

It also has an auction and Liquidation Segment that offers retail store liquidation, and wholesale and industrial assets disposition services that have been pretty busy and are likely to get busier.

The top two executives have been with the firm since they founded a predecessor firm in 1997. Between the two of them, they own more than 20% of the company. The rest of the board and executive team are also shareholders and own an additional 6% of the firm.

Including the special dividends, the firm pays out more quarters than not, the shares are yielding well over 6%.

In addition to the shares they already own, insiders including the co-CEOs have been continuously buying more stock since the coronavirus hit the U.S. economy.

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Disclosure: None.

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