The Australian market has climbed by 2.1% over the past week, with every sector up, and is up 13% over the last 12 months. In light of these positive trends and an annual earnings growth forecast of 12%, identifying dividend stocks that offer reliable income and potential for capital appreciation becomes crucial for investors.

Top 10 Dividend Stocks In Australia

Click here to see the full list of 35 stocks from our Top ASX Dividend Stocks screener.

We'll examine a selection from our screener results.

Bendigo and Adelaide Bank

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

Overview: Bendigo and Adelaide Bank Limited provides banking and financial services to retail customers and small to medium-sized businesses in Australia, with a market cap of A$6.92 billion.

Operations: Bendigo and Adelaide Bank Limited's revenue segments include Consumer (A$1.12 billion), Corporate (A$67.50 million), and Business & Agribusiness (A$761.10 million).

Dividend Yield: 5.2%

Bendigo and Adelaide Bank declared a fully franked full-year dividend of A$0.63 per share, with a second-half dividend of A$0.33 for the period ended June 30, 2024, up from A$0.61 in fiscal year 2023. The bank reported net income of A$545 million compared to A$497 million last year, reflecting earnings growth. While its dividends are covered by earnings (65.4% payout ratio), the bank has had an unstable dividend track record over the past decade despite recent increases.

• Unlock comprehensive insights into our analysis of Bendigo and Adelaide Bank stock in this dividend report.

• Our valuation report here indicates Bendigo and Adelaide Bank may be undervalued.

Jumbo Interactive

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

Overview: Jumbo Interactive Limited operates in the retail of lottery tickets via internet and mobile devices across Australia, the United Kingdom, Canada, Fiji, and internationally with a market cap of A$856.38 million.

Operations: Jumbo Interactive Limited generates revenue from three primary segments: Managed Services (A$25.84 million), Lottery Retailing (A$123.40 million), and Software-As-A-Service (SaaS) (A$50.73 million).

Dividend Yield: 4%

Jumbo Interactive's dividend payments, though covered by earnings (79.1% payout ratio) and cash flows (63.3% cash payout ratio), have been volatile over the past decade. The company recently declared a fully franked dividend of A$0.275 per share for the six months ending June 30, 2024. Despite trading at good value compared to peers and industry, its dividend yield of 4% is low relative to top Australian dividend payers. Earnings have grown consistently, with a recent annual increase in net income from A$31.57 million to A$43.35 million.