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As the ASX200 shows a positive uptick, buoyed by strength in the Consumer Discretionary sector and global central banks' interest rate adjustments, investors are reminded of the dynamic nature of markets. In such an environment, dividend stocks can offer a blend of income and potential for capital stability, making them an attractive option for those looking to diversify their portfolios amidst ongoing economic shifts.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Lindsay Australia (ASX:LAU) | 6.90% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 3.99% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 4.97% | ★★★★★☆ |
| Centuria Capital Group (ASX:CNI) | 6.67% | ★★★★★☆ |
| Charter Hall Group (ASX:CHC) | 3.48% | ★★★★★☆ |
| Eagers Automotive (ASX:APE) | 7.30% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.70% | ★★★★★☆ |
| Fortescue (ASX:FMG) | 8.30% | ★★★★★☆ |
| Diversified United Investment (ASX:DUI) | 3.13% | ★★★★★☆ |
| Macquarie Group (ASX:MQG) | 3.26% | ★★★★☆☆ |
Click here to see the full list of 27 stocks from our Top ASX Dividend Stocks screener.
Let's explore several standout options from the results in the screener.
Beacon Lighting Group
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Beacon Lighting Group Limited specializes in the retail of lighting products both in Australia and internationally, with a market capitalization of A$544.41 million.
Operations: Beacon Lighting Group Limited generates A$312.87 million in revenue from the sale of light fittings, fans, and energy-efficient products.
Dividend Yield: 3.5%
Beacon Lighting Group (BLX) maintains a payout ratio of 59.4%, ensuring dividends are covered by earnings, with an additional safety from a cash payout ratio of 34.3%. Despite this, BLX has experienced volatility in dividend payments over the past decade, reflecting an unstable dividend track record. Earnings are projected to grow at 10.26% annually, but its current dividend yield of 3.46% remains low compared to leading Australian dividend stocks at 6.43%.
Charter Hall Group
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Charter Hall Group, operating in Australia, is a prominent property investment and funds management company with a market capitalization of approximately A$6.00 billion.
Operations: Charter Hall Group generates revenue primarily through its funds management and property investments segments, totaling approximately A$515.60 million and A$142.20 million respectively.
Dividend Yield: 3.5%
Charter Hall Group offers a consistent dividend yield of 3.48%, underpinned by a decade of stable payouts and growth. Despite lower profit margins this year at 11.7%, dividends are well-covered with a payout ratio of 43.8% and cash payout ratio of 45.3%. Earnings are expected to rise by 22.16% annually, enhancing future dividend sustainability, although its yield is below the top quartile benchmark in Australia's market at 6.43%.