Exploring ASX Dividend Stocks In May 2024
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The Australian stock market has shown robust performance, gaining 1.3% over the last week and an impressive 8.8% over the past year, with earnings projected to grow by 14% annually. In this favorable economic environment, dividend stocks can be particularly appealing for investors seeking both stability and potential income growth.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Fiducian Group (ASX:FID) | 3.98% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 4.93% | ★★★★★☆ |
| Centuria Capital Group (ASX:CNI) | 6.65% | ★★★★★☆ |
| Charter Hall Group (ASX:CHC) | 3.47% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.56% | ★★★★★☆ |
| Fortescue (ASX:FMG) | 7.40% | ★★★★★☆ |
| Diversified United Investment (ASX:DUI) | 3.17% | ★★★★★☆ |
| Ricegrowers (ASX:SGLLV) | 7.83% | ★★★★☆☆ |
| Macquarie Group (ASX:MQG) | 3.31% | ★★★★☆☆ |
| Australian United Investment (ASX:AUI) | 3.57% | ★★★★☆☆ |
Click here to see the full list of 32 stocks from our Top ASX Dividend Stocks screener.
Let's dive into some prime choices out of from the screener.
Centuria Capital Group
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Centuria Capital Group, an Australian investment manager, specializes in marketing and managing investment products with a market capitalization of approximately A$1.44 billion.
Operations: Centuria Capital Group generates revenue through several key segments, including Property Funds Management (A$178.53 million), Co-Investments (A$53.33 million), Non-Operating Items (A$51.53 million), Development (A$40.07 million), and Property and Development Finance (A$17.46 million).
Dividend Yield: 6.6%
Centuria Capital Group's dividend yield of 6.65% ranks in the top 25% of Australian dividend payers, reflecting a robust income potential. However, its history reveals volatility with significant annual fluctuations exceeding 20%. Despite this, dividends are sustainably covered by earnings and cash flows, with payout ratios at 76.1% and 73.5%, respectively. Looking ahead, earnings are expected to grow by 21.41% annually, which may support future dividend stability and growth despite a recent history of shareholder dilution and declining profit margins from 6.5% to 3.1%.
Diversified United Investment
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Diversified United Investment Limited is a publicly owned investment manager with a market capitalization of approximately A$1.09 billion.
Operations: Diversified United Investment Limited generates its revenue primarily through its investment management activities, totaling A$51.05 million.