Three ASX Dividend Stocks Offering Yields From 3.2% To 8.6%

In This Article:

The Australian stock market has shown a mix of performances recently, with the ASX200 closing up by 0.63%, driven by strong gains in the energy and materials sectors. However, sectors such as healthcare have not fared as well, indicating a varied economic landscape across different industries. In this context, dividend stocks can offer investors potential stability and regular income streams, qualities that are particularly appealing in times of market fluctuation and sector-specific volatility.

Top 10 Dividend Stocks In Australia

Name

Dividend Yield

Dividend Rating

Fiducian Group (ASX:FID)

4.03%

★★★★★☆

Nick Scali (ASX:NCK)

4.88%

★★★★★☆

Centuria Capital Group (ASX:CNI)

6.67%

★★★★★☆

Charter Hall Group (ASX:CHC)

3.49%

★★★★★☆

Premier Investments (ASX:PMV)

4.58%

★★★★★☆

Fortescue (ASX:FMG)

7.31%

★★★★★☆

Diversified United Investment (ASX:DUI)

3.17%

★★★★★☆

Ricegrowers (ASX:SGLLV)

7.93%

★★★★☆☆

New Hope (ASX:NHC)

8.69%

★★★★☆☆

Macquarie Group (ASX:MQG)

3.30%

★★★★☆☆

Click here to see the full list of 30 stocks from our Top ASX Dividend Stocks screener.

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

IGO

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

Overview: IGO Limited is an Australian exploration and mining company specializing in metals critical for clean energy, with a market capitalization of approximately A$6.08 billion.

Operations: IGO Limited generates revenue primarily through its Nova Operation and Forrestania Operation, which collectively contributed A$903.4 million to the company's earnings.

Dividend Yield: 6.8%

IGO Limited's recent financial performance shows a decline, with sales dropping from A$541.7 million to A$438.2 million and net income falling from A$612.3 million to A$288.3 million in the last half year. Despite this, the company maintains a dividend yield of 6.84%, which is high compared to the market average but is poorly supported by earnings, given a payout ratio of 185%. While cash flows cover dividends reasonably well with a cash payout ratio of 39.7%, IGO's dividend history has been volatile over the past decade, reflecting inconsistency in payments despite an overall increase in dividend amounts during this period.

ASX:IGO Dividend History as at May 2024
ASX:IGO Dividend History as at May 2024

Macquarie Group

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

Overview: Macquarie Group Limited is a global provider of diversified financial services, operating across Australia, the Americas, Europe, the Middle East, Africa, and Asia Pacific with a market capitalization of approximately A$70.86 billion.