Yahoo Finance Top ASX Dividend Stocks To Consider In August 2024
The Australian market has stayed flat over the past week but is up 8.0% over the past year, with earnings expected to grow by 13% per annum in the coming years. In this environment, a good dividend stock combines steady income with potential for growth, making it an attractive option for investors looking to capitalize on current market conditions.
Top 10 Dividend Stocks In Australia
Name | Dividend Yield | Dividend Rating |
Lindsay Australia (ASX:LAU) | 6.74% | ★★★★★☆ |
Collins Foods (ASX:CKF) | 3.21% | ★★★★★☆ |
Nick Scali (ASX:NCK) | 4.75% | ★★★★★☆ |
Fiducian Group (ASX:FID) | 4.30% | ★★★★★☆ |
Centuria Capital Group (ASX:CNI) | 7.61% | ★★★★★☆ |
Eagers Automotive (ASX:APE) | 7.39% | ★★★★★☆ |
MFF Capital Investments (ASX:MFF) | 3.76% | ★★★★★☆ |
Charter Hall Group (ASX:CHC) | 3.60% | ★★★★★☆ |
GrainCorp (ASX:GNC) | 6.23% | ★★★★★☆ |
Premier Investments (ASX:PMV) | 4.41% | ★★★★★☆ |
Click here to see the full list of 32 stocks from our Top ASX Dividend Stocks screener.
We're going to check out a few of the best picks from our screener tool.
Grange Resources
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Grange Resources Limited operates an integrated iron ore mining and pellet production business in Australia and internationally, with a market cap of A$347.20 million.
Operations: Grange Resources Limited generated A$614.74 million from its ore mining segment.
Dividend Yield: 6.7%
Grange Resources offers a compelling dividend yield of 6.67%, placing it in the top 25% of Australian dividend payers. Its dividends are well-covered by both earnings (15.4% payout ratio) and free cash flows (14.4% cash payout ratio). However, the company's dividend payments have been volatile over the past decade, with no growth observed during this period. Recent executive changes include Mr. Weidong Wang assuming the role of CEO as of July 15, 2024, following Mr. Honglin Zhao's retirement.
Harvey Norman Holdings
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Harvey Norman Holdings Limited operates in the integrated retail, franchise, property, and digital system sectors with a market cap of A$5.62 billion.
Operations: Harvey Norman Holdings Limited generates revenue from various segments, including A$982.46 million from New Zealand retail, A$204.83 million from Slovenia and Croatia retail, A$691.09 million from Singapore and Malaysia retail, A$237.17 million from non-franchised retail operations, and A$676.83 million from Ireland and Northern Ireland retail activities.
Dividend Yield: 4.4%
Harvey Norman Holdings trades at 40.4% below its estimated fair value, offering a good relative value. However, its dividend yield of 4.43% is lower than the top 25% of Australian dividend payers (6.17%). Despite a volatile dividend history over the past decade, recent payments are covered by earnings (73.4% payout ratio) and cash flows (39.2% cash payout ratio). Profit margins have decreased from last year’s 26.6% to 13.4%.
Macquarie Group
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Macquarie Group Limited is a diversified financial services company operating in Australia, the Americas, Europe, the Middle East, Africa, and the Asia Pacific with a market cap of A$71.22 billion.
Operations: Macquarie Group Limited generates revenue from various segments, including Corporate (A$990 million), Macquarie Capital (A$2.61 billion), Macquarie Asset Management (A$3.75 billion), Banking and Financial Services (A$3.21 billion), and Commodities and Global Markets (A$6.32 billion).
Dividend Yield: 3.3%
Macquarie Group's dividend yield of 3.27% is relatively low compared to the top 25% of Australian dividend payers. Despite a volatile dividend history, current payments are covered by earnings (69.8% payout ratio) and forecasted to remain sustainable (63.7% in three years). Recent M&A activity, including potential acquisitions in renewable energy and healthcare sectors, indicates strategic growth initiatives that could impact future profitability and dividends.
Unlock comprehensive insights into our analysis of Macquarie Group stock in this dividend report.
Our valuation report here indicates Macquarie Group may be undervalued.
Key Takeaways
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include ASX:GRR ASX:HVN and ASX:MQG.
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