Exploring ASX Dividend Stocks In June 2024
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As the ASX200 closed slightly down with most sectors in the red, it highlighted a cautious sentiment prevailing in the Australian market. However, gains in Consumer Discretionary and Healthcare sectors provide a nuanced view of current market dynamics. In such a fluctuating environment, dividend stocks might appeal to investors looking for potential stability and regular income streams amidst broader market volatility.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Lindsay Australia (ASX:LAU) | 7.19% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 5.07% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 3.99% | ★★★★★☆ |
| Centuria Capital Group (ASX:CNI) | 6.71% | ★★★★★☆ |
| Charter Hall Group (ASX:CHC) | 3.59% | ★★★★★☆ |
| Eagers Automotive (ASX:APE) | 7.27% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.65% | ★★★★★☆ |
| Fortescue (ASX:FMG) | 8.68% | ★★★★★☆ |
| Diversified United Investment (ASX:DUI) | 3.11% | ★★★★★☆ |
| Ricegrowers (ASX:SGLLV) | 7.78% | ★★★★☆☆ |
Click here to see the full list of 27 stocks from our Top ASX Dividend Stocks screener.
Let's uncover some gems from our specialized screener.
Commonwealth Bank of Australia
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Commonwealth Bank of Australia offers financial services across Australia, New Zealand, and other international markets, with a market capitalization of approximately A$209.54 billion.
Operations: Commonwealth Bank of Australia generates its revenue primarily through 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: 3.6%
Commonwealth Bank of Australia's dividend yield stands at 3.63%, below the top quartile of Australian dividend stocks at 6.58%. Despite a history of unstable and unreliable dividends over the past decade, current earnings adequately cover payouts with a payout ratio of 78.1%. Dividends are projected to remain covered by earnings in three years (77.6% payout ratio), and there has been growth in dividend payments over the last ten years, indicating some positive movement amidst overall volatility.
JB Hi-Fi
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: JB Hi-Fi Limited operates as a retailer of home consumer products, with a market capitalization of approximately A$6.92 billion.
Operations: JB Hi-Fi Limited generates its revenue primarily through three segments: The Good Guys (TGG) contributing A$2.66 billion, JB Hi-Fi Australia (JB Aust) with A$6.57 billion, and JB Hi-Fi New Zealand (JB NZ) at A$0.28 billion.