In This Article:
The Australian market has shown positive momentum, rising 1.7% in the past week and 12% over the last year, with earnings projected to grow by 12% annually in the coming years. In this favorable environment, identifying dividend stocks with yields ranging from 3% to 7.3% can be a strategic move for investors seeking both income and potential capital appreciation.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Perenti (ASX:PRN) | 7.77% | ★★★★★☆ |
| Super Retail Group (ASX:SUL) | 6.76% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 4.28% | ★★★★★☆ |
| Collins Foods (ASX:CKF) | 3.41% | ★★★★★☆ |
| MFF Capital Investments (ASX:MFF) | 3.60% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 4.44% | ★★★★★☆ |
| National Storage REIT (ASX:NSR) | 4.44% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 3.96% | ★★★★★☆ |
| Ricegrowers (ASX:SGLLV) | 6.57% | ★★★★☆☆ |
| Sugar Terminals (NSX:SUG) | 7.37% | ★★★★☆☆ |
Click here to see the full list of 35 stocks from our Top ASX Dividend Stocks screener.
We'll examine a selection from our screener results.
Australian United Investment
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Australian United Investment Company Limited, with a market cap of A$1.32 billion, operates as a publicly owned investment manager.
Operations: Australian United Investment Company Limited generates revenue primarily from its investment segment, totaling A$57.76 million.
Dividend Yield: 3.5%
Australian United Investment Company Limited recently announced a regular dividend of A$0.20 and a special dividend of A$0.08, both payable on September 17, 2024. Despite stable and reliable dividends over the past decade, concerns arise as its high payout ratio (95%) indicates dividends are not well covered by earnings. However, with a cash payout ratio of 89.6%, the dividends are supported by cash flows. The current yield (3.48%) is lower than top-tier Australian dividend payers.
Steadfast Group
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Steadfast Group Limited operates as a general insurance brokerage service provider across Australasia, Asia, and Europe with a market cap of A$6.23 billion.
Operations: Steadfast Group Limited's revenue segments include Premium Funding at A$113 million and Insurance Intermediary at A$1.55 billion.
Dividend Yield: 3%
Steadfast Group's dividend payments are covered by earnings (80.7% payout ratio) and cash flows (65.6% cash payout ratio). However, the dividends have been volatile over the past decade. Recent earnings results show net income of A$228 million for FY2024, up from A$189.2 million last year, with a final franked dividend of 10.35 cents per share announced for September 24, 2024. Despite reasonable coverage, the current yield (3.03%) is below top-tier Australian dividend payers.