FTSE 100 dividend shares are actually delivering proper now. I’ve noticed three that aren’t solely flying, however nonetheless look ridiculously low cost.

Every has posted gorgeous beneficial properties over the previous yr, but proceed to boast low price-to-earnings (P/E) ratios and juicy yields. So let’s take a better look.

Have a look at British American Tobacco’s yield!

British American Tobacco (LSE: BATS) shares have had a storming run, rising 40% over the previous 12 months.

Regardless of that, they nonetheless commerce on a P/E of simply 9. That’s severely low for a £72bn world enterprise with highly effective manufacturers and regular demand.

What stands out for me, although, is the revenue. The shares presently provide a trailing yield of seven.1%. That displays a well-covered payout, with the group concentrating on 65% of earnings to be returned to shareholders.

2024 outcomes confirmed revenue from operations up 1.4% to £27.3bn. Price financial savings are feeding via, and the enterprise is constructing power in non-combustibles like vapes and nicotine pouches.

There are large dangers, in fact. Smoking stays deadly and topic to fixed regulatory assault. And whereas smokeless rivals are gaining floor, contemporary well being dangers could set off a backlash. It’s the one sector I shun, however can see why different buyers would contemplate shopping for this long-established dividend development inventory.

NatWest is again on kind

NatWest Group (LSE: NWG) has overwhelmed British American Tobacco to develop a staggering 56% during the last yr. But it additionally seems super-cheap buying and selling on a P/E of simply 9.

The trailing yield isn’t fairly as fabulous because the tobacco large’s bumper payout, but it surely’s nonetheless fairly engaging at 4.55%.

2024 pre-tax working revenue rose 0.3% to £6.2bn, beating expectations. On 2 Might, we discovered that Q1 earnings have been up 36% to £1.8bn, as a result of larger margins on deposits and elevated mortgage lending.

Competitors in UK banking is intense and web curiosity margins might slender if rates of interest fall rapidly. However with the federal government’s remaining stake whittled down to simply 2%, I thinks NatWest is one other dividend development inventory to contemplate.

BT Group is rising once more

BT Group (LSE: BT.A) shares have surged 60% over the previous yr, outpacing each of the above. But once more, the P/E is a lowly 9.2, whereas the trailing yield is simply shy of 5%.

Buyers appear to be waking up to BT’s transformation. The corporate has reduce prices aggressively, has been rolling out full fibre at velocity, and simplifying its enterprise construction.

Nonetheless, there’s work to do. Web debt of £20bn nonetheless exceeds its £16.5bn market cap. Its Openreach full-fibre broadband rollout could battle to carry on to clients amid aggressive stress from newer, nimbler rivals. BT nonetheless has that top-heavy pension scheme. 

I believe it’s the riskiest of the three shares I’ve listed right here. But all three look properly value contemplating for buyers who fancy a splash of development with their dividends. Or is it the opposite manner spherical?