3 ASX Dividend Stocks Yielding Up To 5.9%
In This Article:
The market has climbed 2.0% in the last 7 days and is up 6.4% over the past 12 months, with earnings forecast to grow by 13% annually. In this favorable environment, identifying dividend stocks that provide consistent yields can be a strategic way to enhance portfolio returns while benefiting from overall market growth.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Lindsay Australia (ASX:LAU) | 6.52% | ★★★★★☆ |
| Collins Foods (ASX:CKF) | 3.16% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 4.49% | ★★★★★☆ |
| Centuria Capital Group (ASX:CNI) | 7.44% | ★★★★★☆ |
| Eagers Automotive (ASX:APE) | 7.12% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 4.12% | ★★★★★☆ |
| MFF Capital Investments (ASX:MFF) | 3.72% | ★★★★★☆ |
| Bapcor (ASX:BAP) | 4.25% | ★★★★★☆ |
| Charter Hall Group (ASX:CHC) | 3.64% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.22% | ★★★★★☆ |
Click here to see the full list of 31 stocks from our Top ASX Dividend Stocks screener.
Let's explore several standout options from the results in the screener.
Australian United Investment
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Australian United Investment Company Limited (ASX:AUI) is a publicly owned investment manager with a market cap of A$1.30 billion.
Operations: Australian United Investment Company Limited generates revenue primarily from its investment segment, amounting to A$58.33 million.
Dividend Yield: 3.5%
Australian United Investment's dividend yield of 3.53% is below the top 25% of Australian dividend payers. Although its dividends have been stable and growing over the past decade, they are not well covered by earnings, with a high payout ratio of 92.4%. However, dividends are covered by cash flows at an 86.7% cash payout ratio. Recently, AUI extended its buyback plan duration until May 29, 2025.
GrainCorp
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: GrainCorp Limited is an agribusiness and processing company with operations in Australasia, Asia, North America, Europe, the Middle East, North Africa, and internationally; it has a market cap of approximately A$2.00 billion.
Operations: GrainCorp Limited generates revenue primarily from its Agribusiness segment, which amounted to A$6.82 billion.
Dividend Yield: 6%
GrainCorp's dividend yield of 5.98% falls short of the top 25% in Australia, and its dividend track record has been volatile over the past decade. However, with a payout ratio of 63.4%, dividends are well covered by earnings and cash flows (37.5%). Recent strategic alliances with IFM Investors and Ampol aim to establish an integrated renewable fuels industry in Australia, potentially enhancing future revenue streams and supporting sustainable growth initiatives.