Yahoo Finance Exploring ASX Dividend Stocks In May 2024
The Australian market has shown robust growth, climbing 1.5% in the last week and achieving an 8.7% increase over the past year, with earnings expected to grow by 14% annually. In such a thriving environment, dividend stocks that offer consistent payouts can be particularly appealing to investors looking for both stability and potential income growth.
Top 10 Dividend Stocks In Australia
Name | Dividend Yield | Dividend Rating |
Lindsay Australia (ASX:LAU) | 6.42% | ★★★★★☆ |
Nick Scali (ASX:NCK) | 5.04% | ★★★★★☆ |
Fiducian Group (ASX:FID) | 3.89% | ★★★★★☆ |
Eagers Automotive (ASX:APE) | 7.14% | ★★★★★☆ |
Centuria Capital Group (ASX:CNI) | 6.44% | ★★★★★☆ |
Charter Hall Group (ASX:CHC) | 3.42% | ★★★★★☆ |
Premier Investments (ASX:PMV) | 4.67% | ★★★★★☆ |
Fortescue (ASX:FMG) | 7.33% | ★★★★★☆ |
Diversified United Investment (ASX:DUI) | 3.17% | ★★★★★☆ |
Macquarie Group (ASX:MQG) | 3.27% | ★★★★☆☆ |
Click here to see the full list of 29 stocks from our Top ASX Dividend Stocks screener.
Let's uncover some gems from our specialized screener.
ANZ Group Holdings
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: ANZ Group Holdings Limited operates as a provider of diverse banking and financial services to both individual and business clients across Australia and globally, with a market capitalization of approximately A$85.96 billion.
Operations: ANZ Group Holdings Limited generates its revenue from several key segments: Pacific (A$0.24 billion), New Zealand (A$3.45 billion), Institutional (A$6.81 billion), Australia Retail (A$6.23 billion), and Australia Commercial (A$3.48 billion).
Dividend Yield: 5.7%
ANZ Group Holdings has experienced unstable dividend payments over the past decade, with significant annual fluctuations. Despite this, its dividends are currently supported by a reasonable payout ratio of 68.4%, suggesting coverage by earnings. Looking ahead, dividends are forecasted to remain covered with a projected payout ratio of 73.5% in three years. However, ANZ's dividend yield stands at 5.66%, which is lower than the top quartile of Australian dividend payers at 6.3%. Recently, ANZ announced a share buyback program valued at A$2 billion and declared an interim dividend increase to A$0.83 per share.
Fiducian Group
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Fiducian Group Ltd operates in the financial services sector in Australia, with a market capitalization of approximately A$245.21 million.
Operations: Fiducian Group Ltd generates revenue through four primary segments: Funds Management (A$20.49 million), Corporate Services (A$12.06 million), Financial Planning (A$28.95 million), and Platform Administration (A$15.38 million).
Dividend Yield: 3.9%
Fiducian Group has demonstrated a consistent dividend track record over the past decade, with dividends per share growing and maintaining reliability. Despite a lower yield of 3.89% compared to Australia's top dividend payers, its dividends are well-supported by earnings and cash flows, with an earnings payout ratio of 83.7% and a cash payout ratio of 60.5%. Additionally, Fiducian trades at 5.7% below its estimated fair value, enhancing its appeal for income-focused investors seeking stability rather than high yield alone.
Lycopodium
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Lycopodium Limited, specializing in engineering and project delivery services across resources, infrastructure, and industrial processes sectors, has a market capitalization of approximately A$485.63 million.
Operations: Lycopodium Limited generates revenue primarily from the Process Industries segment, totaling approximately A$11.85 million.
Dividend Yield: 6.7%
Lycopodium offers a dividend yield of 6.71%, placing it among the top 25% of Australian dividend payers. While its payout ratio at 57.2% suggests earnings adequately cover dividends, a high cash payout ratio of 244.7% raises concerns about sustainability from cash flow perspectives. Despite a history of increasing dividends over the past decade, payments have shown volatility and unreliability in the same period, indicating potential risks for those seeking stable income streams from dividends.
Seize The Opportunity
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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:ANZ ASX:FID and ASX:LYL.
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