Top 3 ASX Dividend Stocks To Boost Your Portfolio

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As the Australian market navigates a period of slight downturn, with the ASX200 down 0.4% and all sectors losing ground, investors are closely watching how economic factors like the Reserve Bank's decision to hold interest rates at 4.35% impact their portfolios. In such an environment, dividend stocks can offer a reliable income stream and potential stability, making them an attractive option for those seeking to bolster their investments amidst broader market fluctuations.

Top 10 Dividend Stocks In Australia

Name

Dividend Yield

Dividend Rating

Perenti (ASX:PRN)

6.93%

★★★★★☆

Nick Scali (ASX:NCK)

4.71%

★★★★★☆

Super Retail Group (ASX:SUL)

8.34%

★★★★★☆

Collins Foods (ASX:CKF)

3.37%

★★★★★☆

Fiducian Group (ASX:FID)

4.30%

★★★★★☆

MFF Capital Investments (ASX:MFF)

3.56%

★★★★★☆

National Storage REIT (ASX:NSR)

4.40%

★★★★★☆

GrainCorp (ASX:GNC)

6.09%

★★★★★☆

Premier Investments (ASX:PMV)

4.24%

★★★★★☆

Grange Resources (ASX:GRR)

8.33%

★★★★☆☆

Click here to see the full list of 37 stocks from our Top ASX Dividend Stocks screener.

Below we spotlight a couple of our favorites from our exclusive screener.

Commonwealth Bank of Australia

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

Overview: Commonwealth Bank of Australia offers financial services across Australia, New Zealand, and internationally with a market cap of A$241.38 billion.

Operations: Commonwealth Bank of Australia's revenue segments include Retail Banking Services (Incl. Bankwest) at A$12.47 billion, Business Banking at A$8.14 billion, New Zealand operations at A$2.86 billion, and Institutional Banking and Markets contributing A$2.51 billion.

Dividend Yield: 3.2%

Commonwealth Bank of Australia's dividend payments have been volatile over the past decade, with a current payout ratio of 82.1% indicating coverage by earnings. Despite this, its dividend yield is relatively low at 3.22% compared to top Australian payers. Recent executive changes and significant fixed-income offerings indicate strategic shifts, while insider selling raises some concerns about internal confidence in future performance stability.

ASX:CBA Dividend History as at Nov 2024
ASX:CBA Dividend History as at Nov 2024

Fiducian Group

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

Overview: Fiducian Group Ltd, with a market cap of A$288.02 million, operates in Australia through its subsidiaries to provide financial services.

Operations: Fiducian Group Ltd generates revenue through its diverse financial services operations in Australia, with contributions from Funds Management (A$22.08 million), Corporate Services (A$15.06 million), Financial Planning (A$27.69 million), and Platform Administration (A$15.97 million).