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Amidst a generally buoyant Australian market with the ASX200 closing up by 0.9%, all sectors except IT demonstrated positive movement, highlighting an optimistic investor sentiment across diverse industries. Particularly, the Real Estate sector led gains with a 2% increase, suggesting growing confidence in this area as potential interest rate cuts may ease mortgage pressures and boost demand. In such a market environment, dividend stocks can be particularly appealing as they offer the potential for steady income alongside capital appreciation opportunities.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Collins Foods (ASX:CKF) | 3.09% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 4.93% | ★★★★★☆ |
| Centuria Capital Group (ASX:CNI) | 7.18% | ★★★★★☆ |
| Eagers Automotive (ASX:APE) | 7.08% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 4.04% | ★★★★★☆ |
| Fortescue (ASX:FMG) | 8.89% | ★★★★★☆ |
| Charter Hall Group (ASX:CHC) | 3.64% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.46% | ★★★★★☆ |
| Diversified United Investment (ASX:DUI) | 3.12% | ★★★★★☆ |
| New Hope (ASX:NHC) | 8.69% | ★★★★☆☆ |
Click here to see the full list of 27 stocks from our Top ASX Dividend Stocks screener.
We'll examine a selection from our screener results.
Ampol
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Ampol Limited, operating in Australia, New Zealand, Singapore, and the United States, engages in the purchasing, refining, distribution, and marketing of petroleum products with a market cap of approximately A$8.02 billion.
Operations: Ampol Limited generates revenue through three primary segments: Z Energy (A$5.51 billion), Convenience Retail (A$5.99 billion), and Fuels and Infrastructure (A$33.63 billion).
Dividend Yield: 8.2%
Ampol has demonstrated a mixed performance in dividend reliability and coverage. Over the past decade, dividends have shown volatility and are not well supported by earnings, with a high payout ratio of 93.3%. However, dividends are more adequately covered by cash flows at a 68.6% cash payout ratio. Ampol's dividend yield stands at 8.17%, ranking in the top quartile of Australian dividend payers but raises concerns about sustainability given its financial leverage and recent board changes.
Accent Group
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Accent Group Limited operates in the retail, distribution, and franchise of lifestyle footwear, as well as apparel and accessories across Australia and New Zealand, with a market capitalization of approximately A$1.11 billion.