2 dirt-cheap dividend giants I'd buy today

Rank Group(LSE: RNK) remained basically unmoved in Thursday business despite the release of solid trading details. I reckon this should prompt value and dividend chasers in particular to take a closer look.

The owner of the Mecca Bingo and Grosvenor Casino gambling houses announced that like-for-like revenues rose 2% during the 16 weeks to October 15.

Sales at Rank Group's venues continued to fall during the period, with like-for-like takings at Grosvenor and Mecca ducking 1% and 2% respectively. But once again activity across the company's digital operations saved the day -- at its bingo and casino brands these rose 11% and 34% in the four months.

These robust numbers prompted Rank Group to affirm its predictions for the full year.

Bet on Rank

The FTSE 250 firm's rampant progress in the fast-growing digital area puts it in great shape to deliver stonking earnings growth in the near term and beyond, in my opinion. And I also think the share's excellent value for money, which makes it a particularly enticing pick right now.

Even though City predictions suggest a fractional earnings rise in the year to June 2018, this results in a forward P/E ratio of 14.2 times, underneath the broadly-accepted value benchmark of 15 times.

What's more, I also reckon the Maidenhead firm's ultra-progressive dividend policy makes it worthy of serious attention. Last year Rank Group lifted the full-year payout to 7.3p per share from 6.5p in the prior period, and the number crunchers are expecting it to leap again to 8.1p in the current year.

As a result, Rank Group rocks up with a meaty 3.5% yield. And thanks to its abundant cash flows and bright profits prospects, I am convinced dividends should continue marching steadily higher.

Check it out

Thanks to recent share price weakness, I reckon McCarthy and Stone (LSE: MCS) is another mega-cheap FTSE 250 dividend share worth checking out right now.

The business, which specialises in the construction of retirement properties, is expected to report a 2% earnings uplift in the 12 months ending August 2017. And McCarthy and Stone's plans to hike building work at its sites is predicted to drive profits 19% higher in the current fiscal period.

Not only does this forward projection mean that it boasts a P/E ratio of just 9.5 times, but it also carries a corresponding PEG reading of 0.5. These expectations of perky profits expansion are anticipated to feed into extra handsome dividend growth too.

The total reward of 4.5p per share shelled out in fiscal 2016 is anticipated to rise to 4.9p in the year just passed, and to jump again to 5.6p in the current 12 months. As a result, the construction colossus sports a meaty 3.5% yield.

I am convinced the consequences of Britain's ageing population should continue to drive demand for McCarthy and Stone's properties in the years to come, a trend the business is aiming to capitalise on by lighting a fire under build rates. Indeed, forward orders were up 21% year-on-year as of September as it increased the number of properties it put up.

Hot dividend shares to help you retire early

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Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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