In This Article:
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%.
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).