A lot of companies pay you to own their stocks. Most of them hand over money to you every quarter. I'm referring, of course, to dividend stocks.

You might think that these stocks would inherently cost a lot more. Sure, there are plenty of stocks with attractive dividends that have high share prices. There are exceptions, though. Here are three great dividend stocks you can buy for less than $50.

Hand holding $50 bill folded in half

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Brookfield Renewable

You have a choice with investing in Brookfield Renewable (NYSE:BEP) (NYSE:BEPC). The company's shares are available through its limited partnership (LP), which has the ticker of BEP. It also offers shares of a corporate structure with the ticker BEPC that doesn't have some of the tax headaches associated with LPs. Both stocks reflect the same underlying business. Either of them can currently be bought for around $40 per share.

Brookfield Renewable Partners (the LP) pays a dividend yield of 3%. That's a little higher than the 2.84% yield for Brookfield Renewable Corporation, but only because of the differences in the share prices. The dividend (or distribution) payment is exactly the same with either stock.

As its name indicates, Brookfield Renewable supplies renewable energy. There are several reasons to invest in renewable energy stocks, but probably the best reason (and certainly the top reason for Brookfield Renewable) is the near-certainty of strong future growth.

Brookfield Renewable currently operates hydroelectric, wind, and solar facilities with around 21,000 megawatts of capacity. Its development pipeline, though, more than doubles that amount with 27,000 megawatts of planned capacity. The company projects that it will be able to deliver total returns of between 12% and 15% over the long term. That goal seems attainable. 

Enterprise Products Partners

Enterprise Products Partners (NYSE:EPD) is a different kind of energy stock than Brookfield Renewable. It's one of the top midstream energy companies, operating pipelines, processing, and storage facilities for natural gas, natural gas liquids, crude oil, and petrochemicals.

You can scoop up a couple of shares with $50 at EPD's current price. The stock offers an especially juicy dividend yield of 7.4%. Even better, EPD has increased its dividend for 22 consecutive years. 

But could fossil fuels go the way of the dinosaur? Maybe over time. However, EPD should remain strong as lower-emission natural gas and NGLs, along with lower sulfur crude oil and petrochemicals, continue to enjoy robust demand globally.

The company also sees growth opportunities in environmentally friendly areas such as hydrogen and carbon capture and storage. With its tremendous dividend and growth prospects, EPD just might be able to double your money within the next decade.

Pfizer

One share of Pfizer (NYSE:PFE) will cost you less than $40 right now. For that price, you'll pick up one of the best dividends in the healthcare sector. Pfizer's dividend currently yields north of 4%.

Until recently, it seemed a foregone conclusion that the big drugmaker would reduce its dividend somewhat. Pfizer had stated that would happen when Viatris initiated its dividend program. Viatris was formed in November 2020 by the merger of Pfizer's Upjohn business with Mylan. However, Pfizer's exceptionally strong Q1 results and upbeat guidance allowed it to forego a dividend cut.

The success of the COVID-19 vaccine developed by Pfizer and its partner, BioNTech, has dramatically changed the dynamics for Pfizer. This vaccine is on track to generate sales of at least $26 billion in 2021. Pfizer records the sales but splits profits equally with BioNTech.

What about the future for Pfizer? The company should enjoy strong growth over the next five years, especially if annual COVID-19 vaccines are needed as expected. It faces the losses of basic U.S. patents for several drugs beginning in 2025, though. Still, investors shouldn't have anything to worry about with Pfizer's dividend.

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.