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In recent trading, the ASX200 saw a modest uptick of 0.4%, buoyed slightly by Australia's latest GDP figures which showed a minimal growth of 0.1%—the slowest in over a year. While the telecommunications sector led gains, materials lagged behind, shedding value amidst fluctuating global commodity prices. In this context, understanding what constitutes a robust dividend stock becomes crucial, particularly in an environment marked by economic sluggishness and sector-specific volatility.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Lindsay Australia (ASX:LAU) | 6.70% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 3.96% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 5.09% | ★★★★★☆ |
| Centuria Capital Group (ASX:CNI) | 6.69% | ★★★★★☆ |
| Charter Hall Group (ASX:CHC) | 3.53% | ★★★★★☆ |
| Eagers Automotive (ASX:APE) | 7.32% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.68% | ★★★★★☆ |
| Fortescue (ASX:FMG) | 8.32% | ★★★★★☆ |
| Diversified United Investment (ASX:DUI) | 3.16% | ★★★★★☆ |
| Ricegrowers (ASX:SGLLV) | 7.57% | ★★★★☆☆ |
Click here to see the full list of 27 stocks from our Top ASX Dividend Stocks screener.
We're going to check out a few of the best picks from our screener tool.
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 in Australia and New Zealand, with a market capitalization of approximately A$1.09 billion.
Operations: Accent Group Limited generates revenue primarily through its multi-channel retail operations, which focus on performance and lifestyle footwear, totaling approximately A$1.40 billion.
Dividend Yield: 7.2%
Accent Group's dividend yield of 7.22% ranks in the top 25% of Australian dividend payers, suggesting an attractive return for income-focused investors. However, the dividends have shown volatility and unreliability over the past decade, with significant annual fluctuations exceeding 20%. Furthermore, a high payout ratio of 107.2% indicates that these dividends are not well-supported by earnings, raising concerns about sustainability despite a more manageable cash payout ratio of 39%.
Centuria Capital Group
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Centuria Capital Group is an investment manager that markets and manages investment products primarily in Australia, with a market capitalization of approximately A$1.43 billion.
Operations: Centuria Capital Group generates revenue through various segments, including Development (A$40.07 million), Benefit Funds (A$10.35 million), Co-Investments (A$53.33 million), Non-Operating Items (A$51.53 million), Property Funds Management (A$178.53 million), Investment Bonds Management (A$9.79 million), and Property and Development Finance (A$17.46 million).