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As global markets navigate mixed trading and economic data, investors are increasingly focused on inflation trends and consumer resilience. With the Federal Reserve's preferred inflation gauge showing subdued price increases, value stocks have notably outperformed growth shares. In this environment, dividend stocks can offer a reliable income stream and potential for capital appreciation. Here are three top dividend stocks to watch in September 2024.

Top 10 Dividend Stocks

Click here to see the full list of 2044 stocks from our Top Dividend Stocks screener.

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

Banco Macro

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

Overview: Banco Macro S.A. offers a range of banking products and services to retail and corporate clients in Argentina, with a market cap of ARS4.79 trillion.

Operations: Banco Macro S.A. generates ARS4.01 billion in revenue from its banking business segment, catering to both retail and corporate customers in Argentina.

Dividend Yield: 8%

Banco Macro's dividend payments have been volatile over the past decade, though they have increased overall. Despite a recent net loss of ARS 233.71 billion in Q2 2024, dividends remain well-covered by earnings with a payout ratio of 48.7%, forecasted to improve to 35.6% in three years. The stock's price-to-earnings ratio is favorable at 9.2x compared to the Argentine market average of 19.9x, and its dividend yield is among the highest in the market at nearly 8%.

• Get an in-depth perspective on Banco Macro's performance by reading our dividend report here.

• Our valuation report here indicates Banco Macro may be overvalued.

Multipolar Technology

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

Overview: PT Multipolar Technology Tbk, with a market cap of IDR3.19 trillion, provides IT services and solutions in Indonesia.

Operations: PT Multipolar Technology Tbk generates revenue primarily from its Consultation, Integration, and Information Technology Management segment, amounting to IDR3.36 billion.

Dividend Yield: 6.3%

PT Multipolar Technology Tbk's dividend yield of 6.29% ranks in the top 25% of the Indonesian market. However, its dividends are not well-covered by free cash flows, with a high cash payout ratio of 170.2%. Despite consistent earnings growth and a favorable price-to-earnings ratio (8.2x), dividends have been volatile over the past decade. Recent earnings showed significant improvement, with net income rising to IDR 239.66 billion for H1 2024 from IDR 77.13 billion a year ago.