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The ASX200 recently closed up 0.58% at 8,091.9 points amid a flurry of earnings reports and mixed economic data, including flat retail sales for July which has analysts speculating on future interest rate movements. While sectors like Industrials and Energy saw gains, Consumer Discretionary stocks faced challenges. In this environment of fluctuating market conditions, dividend stocks can offer stability and consistent returns for investors seeking reliable income streams.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Perenti (ASX:PRN) | 7.73% | ★★★★★☆ |
| Collins Foods (ASX:CKF) | 3.64% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 4.27% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 4.80% | ★★★★★☆ |
| MFF Capital Investments (ASX:MFF) | 3.66% | ★★★★★☆ |
| Super Retail Group (ASX:SUL) | 6.66% | ★★★★★☆ |
| National Storage REIT (ASX:NSR) | 4.55% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 3.85% | ★★★★★☆ |
| New Hope (ASX:NHC) | 9.60% | ★★★★☆☆ |
| Grange Resources (ASX:GRR) | 7.27% | ★★★★☆☆ |
Click here to see the full list of 32 stocks from our Top ASX Dividend Stocks screener.
Let's explore several standout options from the results in the screener.
Amotiv
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Amotiv Limited, with a market cap of A$1.48 billion, manufactures, imports, distributes, and sells automotive products across Australia, New Zealand, Thailand, South Korea, France, and the United States through its subsidiaries.
Operations: Amotiv Limited generates revenue from three primary segments: Powertrain & Undercar (A$313.90 million), Lighting Power & Electrical (A$324.47 million), and 4WD Accessories & Trailering (A$348.81 million).
Dividend Yield: 3.8%
Amotiv Limited's dividend payments are well-covered by both earnings (57.2% payout ratio) and cash flows (37.7% cash payout ratio). Despite a history of volatility in dividends over the past decade, recent announcements affirm a fully franked final dividend of A$0.22 per share, with an ex-dividend date of August 23, 2024. The company's earnings have shown consistent growth, with net income rising to A$98.8 million for the year ended June 30, 2024.
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Click here to discover the nuances of Amotiv with our detailed analytical dividend report.
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Our valuation report unveils the possibility Amotiv's shares may be trading at a discount.
IGO
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: IGO Limited is an Australian exploration and mining company focused on discovering, developing, and operating assets for clean energy metals with a market cap of A$4.20 billion.
Operations: IGO Limited's revenue segments include A$48.80 million from the Cosmos Project, A$539.10 million from the Nova Operation, and A$234.80 million from the Forrestania Operation, along with A$18.10 million in interest revenue.