InvestorPlace has unveiled a selection of undisclosed, under-the-radar dividend stocks that are raising eyebrows in July 2024. Dividend stocks have been a stalwart for investors, offering reliable income streams and enhancing portfolio returns over the years. A century’s perspective reveals that dividend stocks have outpaced other equities within the S&P 500 index. During a roller-coaster historical landscape spanning periods of turmoil from world wars to recent global pandemics, dividend payouts have remained a beacon of stability. Successful businesses navigate various cycles, bolstered by prudent management and a shareholder-friendly approach.

Exploring Ford’s Potential (F)

Ford (NYSE:F) emerges as a compelling player in the electric vehicles market, often shadowed by Tesla’s limelight. The US automobile giant’s recent growth spike in second-quarter U.S. sales, primarily attributed to the upsurge in hybrid and electric vehicle (EV) demand, underscores its evolving narrative.

With a 44% hybrid volume share driven by the successful Maverick model, Ford is attracting a significant portion of conquest customers. President and CEO Jim Farley’s bullish sentiment on the Maverick underscores the brand’s upward trajectory, a phenomenon echoed by brisk sales of F-150 hybrid pickups and Escapes.

Despite a modest 7% uptick in stock performance for 2024, Ford is valued at less than seven times the next year’s earnings. With an appealing 5.3% annual dividend yield, the stock represents one of the prime undervalued dividend options as of July.

Benchmark Electronics’ Ascendancy (BHE)

Benchmark Electronics (NYSE:BHE), a small-cap powerhouse, has witnessed a remarkable 41% surge this year, standing tall with a 51% growth over the last 12 months. Specializing in semiconductor capital equipment manufacturing, Benchmark is a silent victor in the artificial intelligence (AI) space, offering a range of design, engineering, and manufacturing services for OEMs across aerospace, defense, and medical sectors.

The AI wave has propelled Benchmark’s sales, particularly evident in the robust 35% spike in aerospace sales complementing a 12% upsurge in semiconductor revenue. With a blossoming dividend trajectory initiated in 2018, and currently yielding a respectable 1.7% annually, Benchmark showcases immense potential and room for future growth with a modest free cash flow (FCF) payout ratio.

Universal’s Diversification Success (UVV)

Universal (NYSE:UVV), the world’s foremost tobacco leaf supplier, embodies an industry pivot symbolizing growth beyond traditional realms. While serving major cigarette manufacturers such as Altria, British American Tobacco, and Philip Morris International, the company exploits burgeoning markets, particularly in China, where smoking rates are on an upward trajectory.

Universal’s steadfast 54-year dividend growth legacy, culminating in a rich 6.8% annual dividend yield, paints a picture of stability amid evolving industry dynamics. The brand’s foray into the plant-based ingredients and food products sphere signals a proactive diversification strategy, underscoring an adaptive business ethos under the leadership of President and CEO George Freeman.

Cardinal Health’s Resilience (CAH)

Cardinal Health (NYSE:CAH), a prominent medical supplies and drug distributor, asserts its influence as an industry stalwart, commanding a significant share of the U.S. drug market. Despite being the third-largest supplier, Cardinal Health’s footprint remains substantial with approximately $190 billion in U.S. drug sales in the previous year, constituting a quarter of the total market share.

Cardinal Health: Weathering the Storm

As the financial seas roil and inflation bites, Cardinal Health stands tall amidst the tempest. Supply chain disruptions and inflationary pressures cast shadows over fiscal 2023, but the sky has since cleared. A potential cut in interest rates by the Federal Reserve hints at smoother sailing ahead. While headwinds may persist, the horizon beckons with promises of stability. Cardinal Health, with its wide market reach and resilience, is poised to capitalize on a recovering economy.

Enterprise Products Partners: Navigating Complexity

Like a ship navigating choppy tax waters, Enterprise Products Partners offers investors a unique journey. Operating as a master limited partnership, this oil and gas middleman presents a labyrinth of tax implications. However, for intrepid sailors willing to delve into the nuances of MLPs, Enterprise Products Partners offers a beacon of hope. Its business model ensures steady revenue streams, with dividends yielding a bountiful 7.3% – a treasure for those who dare to venture.

RTX: Armored with Resilience

In the realm of defense contracting, RTX emerges as a titan, forged in the fires of a volatile world. Formerly known as Raytheon, RTX has evolved, akin to a chrysalis turning into a powerhouse butterfly. With a treasure trove of orders, bolstered by global demand in the wake of crises, RTX’s dividend ship remains steady. A 2.6% annual yield, coupled with a legacy of consistent payouts stretching back to 1936, positions RTX amongst the stalwarts of the undervalued dividend stocks arena.

Toyota Motor: The Electric Pioneer

In the realm of electric vehicles, Toyota Motor stands as a beacon of innovation, steering the industry towards greener pastures. Anticipating the shift towards EVs, Toyota leapt ahead of the curve, cementing its status as a leader in the hybrid market. Amidst soaring sales figures and groundbreaking milestones, Toyota’s stock shines brightly. Despite the upward trajectory, Toyota’s stock remains a hidden gem. Trading at low multiples and boasting a dividend yield of 2.7%, Toyota stands tall as the undisputed champion of undervalued dividend stocks.