Exploring ASX Dividend Stocks In May 2024
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The Australian market has shown robust growth, climbing 1.5% in the last week and achieving an 8.7% increase over the past year, with earnings expected to grow by 14% annually. In such a thriving environment, dividend stocks that offer consistent payouts can be particularly appealing to investors looking for both stability and potential income growth.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Lindsay Australia (ASX:LAU) | 6.42% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 5.04% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 3.89% | ★★★★★☆ |
| Eagers Automotive (ASX:APE) | 7.14% | ★★★★★☆ |
| Centuria Capital Group (ASX:CNI) | 6.44% | ★★★★★☆ |
| Charter Hall Group (ASX:CHC) | 3.42% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.67% | ★★★★★☆ |
| Fortescue (ASX:FMG) | 7.33% | ★★★★★☆ |
| Diversified United Investment (ASX:DUI) | 3.17% | ★★★★★☆ |
| Macquarie Group (ASX:MQG) | 3.27% | ★★★★☆☆ |
Click here to see the full list of 29 stocks from our Top ASX Dividend Stocks screener.
Let's uncover some gems from our specialized screener.
ANZ Group Holdings
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: ANZ Group Holdings Limited operates as a provider of diverse banking and financial services to both individual and business clients across Australia and globally, with a market capitalization of approximately A$85.96 billion.
Operations: ANZ Group Holdings Limited generates its revenue from several key segments: Pacific (A$0.24 billion), New Zealand (A$3.45 billion), Institutional (A$6.81 billion), Australia Retail (A$6.23 billion), and Australia Commercial (A$3.48 billion).
Dividend Yield: 5.7%
ANZ Group Holdings has experienced unstable dividend payments over the past decade, with significant annual fluctuations. Despite this, its dividends are currently supported by a reasonable payout ratio of 68.4%, suggesting coverage by earnings. Looking ahead, dividends are forecasted to remain covered with a projected payout ratio of 73.5% in three years. However, ANZ's dividend yield stands at 5.66%, which is lower than the top quartile of Australian dividend payers at 6.3%. Recently, ANZ announced a share buyback program valued at A$2 billion and declared an interim dividend increase to A$0.83 per share.
Fiducian Group
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Fiducian Group Ltd operates in the financial services sector in Australia, with a market capitalization of approximately A$245.21 million.
Operations: Fiducian Group Ltd generates revenue through four primary segments: Funds Management (A$20.49 million), Corporate Services (A$12.06 million), Financial Planning (A$28.95 million), and Platform Administration (A$15.38 million).