3 ASX Dividend Stocks Yielding Up To 8.3%

In the last week, the Australian market has stayed flat, with notable gains in the Energy sector at 4.8%. Over the past year, the market is up 15%, and earnings are forecast to grow by 12% annually. In such a dynamic environment, identifying dividend stocks that offer both stability and attractive yields becomes crucial for investors seeking reliable income streams.

Top 10 Dividend Stocks In Australia

Name	Dividend Yield	Dividend Rating
Perenti (ASX:PRN)	7.41%	★★★★★☆
Super Retail Group (ASX:SUL)	6.67%	★★★★★☆
Nick Scali (ASX:NCK)	4.16%	★★★★★☆
Collins Foods (ASX:CKF)	3.32%	★★★★★☆
Fiducian Group (ASX:FID)	4.71%	★★★★★☆
MFF Capital Investments (ASX:MFF)	3.60%	★★★★★☆
Premier Investments (ASX:PMV)	4.44%	★★★★★☆
GrainCorp (ASX:GNC)	6.23%	★★★★★☆
National Storage REIT (ASX:NSR)	4.33%	★★★★★☆
Ricegrowers (ASX:SGLLV)	6.29%	★★★★☆☆

Click here to see the full list of 36 stocks from our Top ASX Dividend Stocks screener.

Let's dive into some prime choices out of the screener.

Ampol

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Ampol Limited purchases, refines, distributes, and markets petroleum products in Australia, New Zealand, Singapore, and the United States with a market cap of A$6.93 billion.

Operations: Ampol Limited's revenue segments include New Zealand (A$5.49 billion), Convenience Retail (A$5.97 billion), and Fuels and Infrastructure (A$34.46 billion).

Dividend Yield: 8.3%

Ampol's dividend yield of 8.26% places it among the top 25% of Australian dividend payers, though its high cash payout ratio (115.2%) indicates dividends are not well covered by free cash flows. Despite a recent earnings surge, Ampol’s dividends have been volatile and unreliable over the past decade. The company declared a fully franked interim dividend of A$0.60 per share for H1 2024, with a payout ratio of 61%.

• Click to explore a detailed breakdown of our findings in Ampol's dividend report.

• In light of our recent valuation report, it seems possible that Ampol is trading behind its estimated value.

ASX:ALD Dividend History as at Sep 2024

JB Hi-Fi

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: JB Hi-Fi Limited, with a market cap of A$8.62 billion, is a retailer specializing in home consumer products.

Operations: JB Hi-Fi Limited generates revenue primarily from three segments: The Good Guys (A$2.68 billion), JB Hi-Fi Australia (A$6.61 billion), and JB Hi-Fi New Zealand (A$303.40 million).

Dividend Yield: 3.3%

JB Hi-Fi's dividend payments have grown over the past decade, though they have been volatile. With a payout ratio of 65% and a cash payout ratio of 42.1%, dividends are well covered by earnings and cash flows. However, recent insider selling raises concerns. The company declared an ordinary dividend of A$1.83 for H2 2024, despite reporting lower net income (A$438.8 million) compared to the previous year (A$524.6 million).

• Click here and access our complete dividend analysis report to understand the dynamics of JB Hi-Fi.

• According our valuation report, there's an indication that JB Hi-Fi's share price might be on the expensive side.

ASX:JBH Dividend History as at Sep 2024

Shaver Shop Group

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Shaver Shop Group Limited (ASX:SSG) retails personal care and grooming products in Australia and New Zealand, with a market cap of A$159.84 million.

Operations: Shaver Shop Group Limited generates A$219.37 million in revenue from retail store sales of specialist personal grooming products in Australia and New Zealand.

Dividend Yield: 8.4%

Shaver Shop Group declared a fully franked final dividend of A$0.055 per share, maintaining total dividends at A$0.102 for fiscal year 2024, consistent with the previous year. Despite a slight decline in net income to A$15.12 million from A$16.82 million and earnings per share dropping to A$0.117, the company's payout ratio remains high at 87%. Though dividends are well-covered by cash flows (48.1% cash payout ratio), their track record is unstable and has shown volatility over eight years of payments.

• Dive into the specifics of Shaver Shop Group here with our thorough dividend report.

• The valuation report we've compiled suggests that Shaver Shop Group's current price could be quite moderate.

ASX:SSG Dividend History as at Sep 2024

Summing It All Up

• Dive into all 36 of the Top ASX Dividend Stocks we have identified here.

• Have you diversified into these companies? Leverage the power of Simply Wall St's portfolio to keep a close eye on market movements affecting your investments.

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Seeking Other Investments?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.

• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.

• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include ASX:ALD ASX:JBH and ASX:SSG.

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