3 Dividend Stocks On The ASX Yielding Up To 8.6%

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Over the last 7 days, the Australian market has dropped 1.7%, but it is up 10% over the past year, with earnings expected to grow by 12% per annum over the next few years. In this context, identifying dividend stocks that offer strong yields and stable performance can be a prudent strategy for investors seeking reliable income and potential growth.

Top 10 Dividend Stocks In Australia

Name

Dividend Yield

Dividend Rating

Perenti (ASX:PRN)

8.08%

★★★★★☆

Nick Scali (ASX:NCK)

4.40%

★★★★★☆

Collins Foods (ASX:CKF)

3.56%

★★★★★☆

Fiducian Group (ASX:FID)

4.71%

★★★★★☆

MFF Capital Investments (ASX:MFF)

3.69%

★★★★★☆

Super Retail Group (ASX:SUL)

6.91%

★★★★★☆

GrainCorp (ASX:GNC)

6.18%

★★★★★☆

National Storage REIT (ASX:NSR)

4.45%

★★★★★☆

Premier Investments (ASX:PMV)

4.05%

★★★★★☆

Grange Resources (ASX:GRR)

8.00%

★★★★☆☆

Click here to see the full list of 32 stocks from our Top ASX Dividend Stocks screener.

We're going to check out a few of the best picks from our screener tool.

BlueScope Steel

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

Overview: BlueScope Steel Limited produces and markets metal coated and painted steel building products across Australia, New Zealand, Asia, North America, and internationally with a market cap of A$8.70 billion.

Operations: BlueScope Steel Limited's revenue segments include Coated Products Asia (A$2.08 billion), Australian Steel Products (A$6.98 billion), North Star BlueScope Steel (A$3.84 billion), New Zealand & Pacific Islands (A$914.70 million), and Buildings and Coated Products North America (A$3.70 billion).

Dividend Yield: 3%

BlueScope Steel's dividend payments are well covered by earnings (payout ratio: 30.6%) and cash flows (cash payout ratio: 60.7%), though they have been volatile over the past decade. Recent announcements include a fully franked final dividend of A$0.30 per share and earnings results showing a decline in net income to A$805.7 million for FY2024 from A$1 billion last year, reflecting some financial instability despite an attractive valuation trading at 54% below estimated fair value.

ASX:BSL Dividend History as at Sep 2024
ASX:BSL Dividend History as at Sep 2024

Shaver Shop Group

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

Overview: Shaver Shop Group Limited (ASX:SSG) retails personal care and grooming products in Australia and New Zealand, with a market cap of A$154.59 million.

Operations: Shaver Shop Group Limited generates revenue primarily through retail store sales of specialist personal grooming products, amounting to A$219.37 million.