Top ASX Dividend Stocks To Consider In October 2024
In This Article:
Over the last 7 days, the Australian market has experienced a 1.5% decline, but it has risen by 19% over the past year with earnings forecasted to grow by 12% annually. In this context, selecting dividend stocks that offer both stability and growth potential can be a prudent strategy for investors seeking reliable income amidst fluctuating market conditions.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Fortescue (ASX:FMG) | 9.96% | ★★★★★☆ |
| Perenti (ASX:PRN) | 6.72% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 4.62% | ★★★★★☆ |
| Super Retail Group (ASX:SUL) | 7.10% | ★★★★★☆ |
| Collins Foods (ASX:CKF) | 3.33% | ★★★★★☆ |
| MFF Capital Investments (ASX:MFF) | 3.60% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 4.26% | ★★★★★☆ |
| National Storage REIT (ASX:NSR) | 4.40% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.45% | ★★★★★☆ |
| Sugar Terminals (NSX:SUG) | 7.45% | ★★★★☆☆ |
Click here to see the full list of 37 stocks from our Top ASX Dividend Stocks screener.
Let's explore several standout options from the results in the screener.
Jumbo Interactive
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Jumbo Interactive Limited operates in the retail of lottery tickets via internet and mobile platforms across Australia, the United Kingdom, Canada, Fiji, and other international markets with a market cap of A$799.41 million.
Operations: Jumbo Interactive Limited's revenue segments include Managed Services generating A$25.84 million, Lottery Retailing contributing A$123.40 million, and Software-As-A-Service (SaaS) providing A$50.73 million.
Dividend Yield: 4.3%
Jumbo Interactive's dividend payments have increased over the past decade, though they remain volatile and unreliable. The company's dividends are currently well-covered by earnings and cash flows, with a payout ratio of 79.1% and a cash payout ratio of 63.2%. Despite trading at good value compared to its peers, its dividend yield of 4.27% is lower than the top quartile in Australia. Recent strategic moves include seeking bolt-on acquisitions to enhance growth potential.
Steadfast Group
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Steadfast Group Limited offers general insurance brokerage services across Australasia, Asia, and Europe, with a market cap of A$6.12 billion.
Operations: Steadfast Group Limited generates revenue from its Insurance Intermediary segment, which accounts for A$1.55 billion, and its Premium Funding segment, contributing A$113 million.
Dividend Yield: 3.1%