Top ASX Dividend Stocks To Boost Your Income
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The ASX200 closed up 1.25% at 7777.7 points, marking its second consecutive positive session and recovering some of the losses from earlier in the week. The recent uptick in China's inflation data has positively influenced sentiment across Asian markets, boosting commodities and lifting all sectors into positive territory. In such a volatile market environment, dividend stocks can offer a reliable income stream while providing potential for capital appreciation. Here are three top ASX dividend stocks that could help boost your income amidst these dynamic conditions.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Lindsay Australia (ASX:LAU) | 6.67% | ★★★★★☆ |
| Collins Foods (ASX:CKF) | 3.27% | ★★★★★☆ |
| Eagers Automotive (ASX:APE) | 7.41% | ★★★★★☆ |
| Centuria Capital Group (ASX:CNI) | 7.34% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 4.72% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 4.03% | ★★★★★☆ |
| MFF Capital Investments (ASX:MFF) | 3.71% | ★★★★★☆ |
| Charter Hall Group (ASX:CHC) | 3.64% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.47% | ★★★★★☆ |
| Diversified United Investment (ASX:DUI) | 3.08% | ★★★★★☆ |
Click here to see the full list of 30 stocks from our Top ASX Dividend Stocks screener.
We'll examine a selection from our screener results.
Bisalloy Steel Group
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Bisalloy Steel Group Limited manufactures and sells quenched and tempered, high-tensile, and abrasion-resistant steel plates in Australia, Indonesia, Thailand, and internationally with a market cap of A$204.51 million.
Operations: Bisalloy Steel Group Limited generates revenue from the production and distribution of high-performance steel plates across various regions, including Australia, Indonesia, Thailand, and international markets.
Dividend Yield: 3.1%
Bisalloy Steel Group's dividend payments have been volatile over the past decade, with an annual drop of over 20% at times. However, the current payout ratio of 58.6% indicates dividends are covered by earnings, and a cash payout ratio of 82.2% shows coverage by cash flows. Despite a lower-than-top-tier yield (3.13%), its Price-To-Earnings ratio (14.4x) is attractive compared to the broader Australian market (18.9x).
JB Hi-Fi
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: JB Hi-Fi Limited, along with its subsidiaries, operates as a retailer of home consumer products and has a market cap of approximately A$7.37 billion.
Operations: JB Hi-Fi Limited generates revenue from three main segments: The Good Guys (A$2.66 billion), JB Hi-Fi Australia (A$6.57 billion), and JB Hi-Fi New Zealand (A$277.80 million).