In This Article:
Over the last 7 days, the Australian market has risen 1.7%, contributing to a 17% increase over the past year, with earnings forecasted to grow by 12% annually. In this favorable environment, identifying strong dividend stocks like CTI Logistics and two other top picks can provide investors with reliable income and potential growth opportunities.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Perenti (ASX:PRN) | 7.55% | ★★★★★☆ |
| Fortescue (ASX:FMG) | 9.52% | ★★★★★☆ |
| Super Retail Group (ASX:SUL) | 6.54% | ★★★★★☆ |
| Collins Foods (ASX:CKF) | 3.21% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 4.66% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 3.95% | ★★★★★☆ |
| MFF Capital Investments (ASX:MFF) | 3.65% | ★★★★★☆ |
| CTI Logistics (ASX:CLX) | 5.98% | ★★★★★☆ |
| National Storage REIT (ASX:NSR) | 4.33% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.57% | ★★★★★☆ |
Click here to see the full list of 40 stocks from our Top ASX Dividend Stocks screener.
We'll examine a selection from our screener results.
CTI Logistics
Simply Wall St Dividend Rating: ★★★★★☆
Overview: CTI Logistics Limited (ASX:CLX) provides transport and logistics services in Australia with a market cap of A$147.19 million.
Operations: CTI Logistics Limited generates revenue through its logistics segment (A$118.28 million) and transport segment (A$225.42 million), along with property-related income (A$6.37 million).
Dividend Yield: 6%
CTI Logistics reported A$321.16 million in sales for the year ending June 30, 2024, with a net income of A$15.83 million. Despite a slight decline in earnings per share from A$0.2227 to A$0.2049, the company announced a dividend of A$0.055 per share for the six months ending June 30, 2024. The payout ratio stands at 51.2%, indicating dividends are covered by earnings and cash flows (57%). However, its dividend history has been volatile and unreliable over the past decade despite recent growth.
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$4.35 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, with an additional A$18.10 million in interest revenue.
Dividend Yield: 6.4%
IGO's recent dividend of A$0.26 per share, announced for the six months ending June 30, 2024, highlights both opportunities and concerns for dividend investors. While its dividend yield is in the top 25% of Australian payers at 6.43%, earnings have significantly dropped to A$2.8 million from A$549.1 million a year ago, leading to an unsustainable payout ratio and unreliable dividends over the past decade. Recent M&A rumors suggest potential strategic shifts that might impact future dividends.