Top ASX Dividend Stocks To Consider In September 2024
In This Article:
In the last week, the Australian market has been flat, yet it has risen 11% over the past 12 months with earnings expected to grow by 12% per annum in the coming years. In this context, identifying strong dividend stocks can be crucial for investors looking to capitalize on consistent income and potential growth.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Perenti (ASX:PRN) | 7.84% | ★★★★★☆ |
| Collins Foods (ASX:CKF) | 3.63% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 4.36% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 4.82% | ★★★★★☆ |
| MFF Capital Investments (ASX:MFF) | 3.60% | ★★★★★☆ |
| Super Retail Group (ASX:SUL) | 6.61% | ★★★★★☆ |
| National Storage REIT (ASX:NSR) | 4.51% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 3.88% | ★★★★★☆ |
| Grange Resources (ASX:GRR) | 7.41% | ★★★★☆☆ |
| Australian United Investment (ASX:AUI) | 3.40% | ★★★★☆☆ |
Click here to see the full list of 32 stocks from our Top ASX Dividend Stocks screener.
Let's take a closer look at a couple of our picks from the screened companies.
Australian United Investment
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Australian United Investment Company Limited, with a market cap of A$1.35 billion, is a publicly owned investment manager based in Australia.
Operations: Australian United Investment Company Limited generates revenue primarily from its investment segment, amounting to A$57.76 million.
Dividend Yield: 3.4%
Australian United Investment Company Limited (AUI) has announced regular and special dividends totaling A$0.28 per share, with an ex-dividend date of August 26, 2024. Despite stable and growing dividend payments over the past decade, recent earnings of A$49.12 million indicate a decline from last year's A$56.36 million. The high payout ratio (95%) suggests that dividends are not well covered by earnings, raising concerns about sustainability despite reliable historical payouts.
Commonwealth Bank of Australia
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Commonwealth Bank of Australia (ASX:CBA) provides financial services in Australia, New Zealand, and internationally, with a market cap of A$237.07 billion.
Operations: Commonwealth Bank of Australia's revenue segments include Retail Banking Services (A$12.47 billion), Business Banking (A$8.14 billion), New Zealand operations (A$2.86 billion), and Institutional Banking and Markets (A$2.51 billion).
Dividend Yield: 3.3%
Commonwealth Bank of Australia’s dividend yield is relatively low at 3.28%, and its dividends have been volatile over the past decade. The current payout ratio of 82.1% indicates that dividends are covered by earnings, with a forecasted coverage of 78.8% in three years. Recent net income for the year ended June 30, 2024, was A$9.39 billion, down from A$9.99 billion last year, reflecting potential pressure on future payouts despite recent increases in dividend payments to A$2.50 per share.