In This Article:
Amidst a fluctuating Australian market, where the ASX200 recently dipped and sectors like IT and Energy faced notable declines, investors may find solace in dividend stocks that promise steady returns. Given the current economic headwinds influenced by external factors such as China's economic data, focusing on robust dividend-yielding stocks could be a prudent strategy for those looking to mitigate risk and secure consistent income.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Lindsay Australia (ASX:LAU) | 7.06% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 5.20% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 3.86% | ★★★★★☆ |
| Centuria Capital Group (ASX:CNI) | 6.74% | ★★★★★☆ |
| Charter Hall Group (ASX:CHC) | 3.63% | ★★★★★☆ |
| Eagers Automotive (ASX:APE) | 7.31% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.64% | ★★★★★☆ |
| Fortescue (ASX:FMG) | 8.78% | ★★★★★☆ |
| Diversified United Investment (ASX:DUI) | 3.10% | ★★★★★☆ |
| Australian United Investment (ASX:AUI) | 3.57% | ★★★★☆☆ |
Click here to see the full list of 27 stocks from our Top ASX Dividend Stocks screener.
Let's review some notable picks from our screened stocks.
NRW Holdings
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: NRW Holdings Limited offers a range of contract services to the resources and infrastructure sectors in Australia, with a market capitalization of approximately A$1.33 billion.
Operations: NRW Holdings Limited generates its revenue primarily from three segments: Mining (A$1.49 billion), MET (A$739.07 million), and Civil (A$593.62 million).
Dividend Yield: 5%
NRW Holdings has demonstrated a solid growth in earnings, increasing by 15.8% annually over the past five years. Despite a dividend yield of 4.97%, which is lower than the top Australian dividend payers, its dividends appear sustainable with a payout ratio of 74% and cash payout ratio of 68.6%. However, investors should be cautious as NRW's dividend history over the last decade shows volatility and unreliability in payments, despite recent increases in dividends.
Super Retail Group
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Super Retail Group Limited operates in Australia and New Zealand, specializing in the retail of auto, sports, and outdoor leisure products with a market capitalization of A$2.99 billion.
Operations: Super Retail Group Limited generates revenue through several key segments: Rebel at A$1.30 billion, Super Cheap Auto (SCA) at A$1.48 billion, and Boating, Camping and Fishing (BCF), excluding Macpac, at A$876 million, with Macpac contributing A$220.60 million.