In This Article:
The Australian market has experienced a notable upswing, climbing 1.7% in the last week and rising 18% over the past year, with earnings projected to grow by 12% annually. In this context of robust market performance, dividend stocks that offer attractive yields can be appealing for investors looking to enhance their income streams while potentially benefiting from capital appreciation.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Fortescue (ASX:FMG) | 9.56% | ★★★★★☆ |
| Perenti (ASX:PRN) | 7.51% | ★★★★★☆ |
| Super Retail Group (ASX:SUL) | 6.84% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 4.32% | ★★★★★☆ |
| Collins Foods (ASX:CKF) | 3.28% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 4.47% | ★★★★★☆ |
| MFF Capital Investments (ASX:MFF) | 3.56% | ★★★★★☆ |
| National Storage REIT (ASX:NSR) | 4.40% | ★★★★★☆ |
| GrainCorp (ASX:GNC) | 6.02% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.37% | ★★★★★☆ |
Click here to see the full list of 40 stocks from our Top ASX Dividend Stocks screener.
Let's explore several standout options from the results in the screener.
IGO
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: IGO Limited is an Australian exploration and mining company that focuses on discovering, developing, and operating assets for metals essential to clean energy, with a market cap of A$4.09 billion.
Operations: IGO Limited generates revenue primarily from its Nova Operation at A$539.10 million, followed by the Forrestania Operation at A$234.80 million, and the Cosmos Project contributing A$48.80 million, with additional income from interest revenue amounting to A$18.10 million.
Dividend Yield: 6.8%
IGO Limited's dividend profile presents challenges, with a high payout ratio of 10008.1% indicating dividends are not well covered by earnings, though cash flows provide some support with a lower cash payout ratio of 41.6%. Despite recent dividend decreases to A$0.26 and fluctuating payments over the past decade, IGO maintains a competitive yield at 6.84%, ranking in the top quartile in Australia. Recent M&A discussions suggest strategic shifts that could impact future dividend stability and growth prospects.
National Storage REIT
Simply Wall St Dividend Rating: ★★★★★☆
Overview: National Storage REIT is the largest self-storage provider in Australia and New Zealand, operating over 225 centers to serve more than 90,000 residential and commercial customers, with a market cap of A$3.45 billion.
Operations: National Storage REIT generates revenue primarily from the operation and management of its storage centers, amounting to A$354.69 million.