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Exploring ASX Dividend Stocks For June 2024

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Over the past year, the Australian market has shown robust growth, rising by 8.5%, with earnings projected to increase by 14% annually. In this dynamic environment, dividend stocks that demonstrate consistent payouts and potential for earnings growth stand out as particularly appealing options for investors.

Top 10 Dividend Stocks In Australia

Name

Dividend Yield

Dividend Rating

Lindsay Australia (ASX:LAU)

6.67%

★★★★★☆

Fiducian Group (ASX:FID)

3.89%

★★★★★☆

Nick Scali (ASX:NCK)

4.99%

★★★★★☆

Centuria Capital Group (ASX:CNI)

6.61%

★★★★★☆

Charter Hall Group (ASX:CHC)

3.58%

★★★★★☆

Eagers Automotive (ASX:APE)

7.32%

★★★★★☆

Premier Investments (ASX:PMV)

4.72%

★★★★★☆

Fortescue (ASX:FMG)

8.09%

★★★★★☆

Diversified United Investment (ASX:DUI)

3.18%

★★★★★☆

Australian United Investment (ASX:AUI)

3.59%

★★★★☆☆

Click here to see the full list of 26 stocks from our Top ASX Dividend Stocks screener.

Underneath we present a selection of stocks filtered out by our screen.

Harvey Norman Holdings

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Harvey Norman Holdings Limited operates in integrated retail, franchise, property, and digital system sectors with a market capitalization of approximately A$5.58 billion.

Operations: Harvey Norman Holdings Limited generates revenue from various international retail segments, including A$982.46 million from New Zealand, A$204.83 million from Slovenia & Croatia, A$691.09 million from Singapore & Malaysia, A$237.17 million from non-franchised retail, and A$676.83 million from Ireland & Northern Ireland.

Dividend Yield: 4.5%

Harvey Norman Holdings has demonstrated a mixed track record in dividend stability, with significant fluctuations over the past decade. Despite this, its dividends are sustainably covered by earnings and cash flows, with payout ratios of 73.4% and 39.2% respectively. However, its dividend yield of 4.46% falls below the top quartile of Australian dividend stocks at 6.43%. Additionally, recent profit margins have declined to 13.4%, down from last year's 26.6%.

ASX:HVN Dividend History as at Jun 2024
ASX:HVN Dividend History as at Jun 2024

JB Hi-Fi

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: JB Hi-Fi Limited operates a retail chain specializing in consumer electronics and home products, with a market capitalization of approximately A$6.39 billion.

Operations: JB Hi-Fi Limited generates revenue through its segments: JB Hi-Fi Australia (A$6.57 billion), The Good Guys (A$2.66 billion), and JB Hi-Fi New Zealand (A$0.28 billion).