I think this is the best dividend stock to buy in the FTSE 250. And it’s dirt cheap!

Looking for high-dividend stocks? Consider exploring opportunities outside the FTSE 100, like the FTSE 250. One such stock worth considering is IG Group (LSE: IGG), a leading online trading platform provider with a market cap of £3bn.

In its recent trading update, IG Group reported solid performance with total revenue in Q3 reaching £240.1m, despite low market volatility. This bodes well for the company’s future prospects, especially when market conditions change.

Investor sentiment towards IG Group seems positive, with the stock up 10% in 2024, outperforming the FTSE 250. Analysts expect the company to deliver a dividend of 47.3p per share in FY25, resulting in a juicy dividend yield of 5.7%, higher than the FTSE 250 average of 3.3%.

Although the company faces regulatory risks and stiff competition, its low P/E ratio of 8 and strong balance sheet make it an attractive investment opportunity. With the stock already delivering a 40% return since 2019, coupled with its generous dividends, IG Group presents a compelling investment case.

Considering the potential for passive income and the company’s financial strength, IG Group could be a promising addition to your portfolio.