ASX Dividend Stocks To Consider In July 2024
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The Australian market has shown robust growth, climbing 3.1% over the past week and achieving a 10% increase over the last twelve months, with earnings projected to grow by 13% annually. In such a thriving environment, dividend stocks that offer consistent payouts and potential for capital appreciation can be particularly appealing to investors looking for both stability and growth.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Collins Foods (ASX:CKF) | 3.16% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 5.03% | ★★★★★☆ |
| Eagers Automotive (ASX:APE) | 7.09% | ★★★★★☆ |
| Centuria Capital Group (ASX:CNI) | 6.99% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 4.23% | ★★★★★☆ |
| Fortescue (ASX:FMG) | 8.75% | ★★★★★☆ |
| Charter Hall Group (ASX:CHC) | 3.51% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.35% | ★★★★★☆ |
| Diversified United Investment (ASX:DUI) | 3.09% | ★★★★★☆ |
| New Hope (ASX:NHC) | 8.79% | ★★★★☆☆ |
Click here to see the full list of 28 stocks from our Top ASX Dividend Stocks screener.
Let's dive into some prime choices out of from the screener.
Commonwealth Bank of Australia
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Commonwealth Bank of Australia, operating in Australia, New Zealand, and internationally, offers a range of financial services and has a market capitalization of approximately A$221.46 billion.
Operations: Commonwealth Bank of Australia's revenue is primarily generated from Retail Banking Services, including Bankwest, which contributes A$11.77 billion, followed by Business Banking at A$8.54 billion, Institutional Banking and Markets at A$2.58 billion, and operations in New Zealand accounting for A$2.97 billion.
Dividend Yield: 3.4%
Commonwealth Bank of Australia's dividend yield stands at 3.44%, lower than the top quartile of Australian dividend stocks at 6.34%. Despite a history of unstable and volatile dividends, current forecasts suggest dividends will be covered by earnings with a payout ratio near 78.1%. Recent strategic fixed-income offerings, including a significant €1 billion in Green Bonds, indicate active capital management which could impact future financial flexibility and dividend sustainability.
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Take a closer look at Commonwealth Bank of Australia's potential here in our dividend report.
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Our valuation report here indicates Commonwealth Bank of Australia may be overvalued.
Ricegrowers
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Ricegrowers Limited is a global rice food company with operations in Australia, New Zealand, the Pacific Islands, the Middle East, and the United States, boasting a market capitalization of A$490.35 million.
Operations: Ricegrowers Limited generates revenue through various segments, with International Rice contributing A$894.03 million, followed by Rice Pool at A$498.11 million, Cop Rice at A$252.75 million, Riviana at A$222.01 million, and Rice Food at A$121.03 million.