You don't have to have a lot of money to start investing. And buying stocks that pay solid dividends gives you additional money on a regular basis to invest even more.

There are two primary things to look for with dividend stocks. The dividend yield -- how much a stock's annual dividend payments are divided by its share price -- is key. Just as important, though, is the ability of the company to continue paying (and preferably increasing) dividends over the long term.

What are some top picks that offer attractive dividends for investors with only a modest amount of cash? Here are three of the best dividend stocks to buy with $300 right now.

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You can currently buy one share of AbbVie (NYSE:ABBV) for around $111. The big drugmaker pays you pretty well to own its stock, too. AbbVie's dividend yield stands at 4.7%. 

The odds look really good that AbbVie's dividends will grow over the long term. The company has increased its dividend for 49 consecutive years. It's only one dividend hike away from becoming a Dividend King -- the highest echelon of dividend royalty. 

There are a couple of issues to be aware of with AbbVie, though. The company's top-selling drug, Humira, loses U.S. patent exclusivity in 2023. AbbVie expects its total revenue to fall year over year when that happens. Also, the U.S. Food and Drug Administration (FDA) has delayed its reviews of Rinvoq in treating atopic dermatitis and psoriatic arthritis. AbbVie is counting on the autoimmune disease drug to help offset the anticipated sales declines for Humira.

Still, AbbVie remains confident about the prospects for FDA approval of Rinvoq in the two indications. The drug has already won FDA approval in treating rheumatoid arthritis. Assuming Rinvoq and other drugs in AbbVie's lineup achieve their potential, the company expects to quickly return to growth after Humira loses exclusivity. 


Pfizer's (NYSE:PFE) share price is under $40 right now. Its dividend yields nearly 4%. Note, though, that the giant pharma company will soon cut its dividend payment.

You don't have anything to be concerned about with this cut. It's being done in conjunction with Viatris initiating a dividend. Viatris was formed in November 2020 through the merger of Pfizer's Upjohn unit and Mylan. Pfizer's dividend will only be reduced by a small amount.

Overall, though, Pfizer appears to be in an excellent position to increase its dividend in the future. The company is in a stronger position for growth with the older drugs that were part of Upjohn no longer in its lineup. 

Pfizer's prospects of solid recurring revenue from its COVID-19 vaccine are also looking increasingly better. The big drugmaker and its partner BioNTech recently signed a deal with the European Union (EU) to supply another 100 million doses of the vaccine, bringing the total supplied to 600 million doses. The two companies are also in negotiations with the EU to supply another 1.8 billion doses through 2023.

Verizon Communications

Verizon Communications(NYSE:VZ) share price is currently below $60. The telecommunications company's dividend yield tops 4.3%. Verizon has increased its dividend payout for 14 consecutive years. 

The company should be in good shape to keep that streak of dividend hikes going. Verizon reported solid if not spectacular revenue and earnings growth in its latest quarterly update. It has a relatively strong financial position.

Verizon's momentum could even accelerate. It's one of the best ways to invest in 5G. The high-speed wireless technology is only in its early stages right now but should be a key growth driver for Verizon over the next few years.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.