Top ASX Dividend Stocks To Consider In August 2024
In This Article:
Over the last 7 days, the Australian market has dropped 4.7%, but it has risen by 4.0% over the past year, with earnings expected to grow by 13% per annum in the coming years. In this context, a good dividend stock is one that offers reliable income and potential for growth despite short-term market fluctuations.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Lindsay Australia (ASX:LAU) | 6.78% | ★★★★★☆ |
| Collins Foods (ASX:CKF) | 3.26% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 4.76% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 4.29% | ★★★★★☆ |
| Centuria Capital Group (ASX:CNI) | 7.48% | ★★★★★☆ |
| Eagers Automotive (ASX:APE) | 7.35% | ★★★★★☆ |
| MFF Capital Investments (ASX:MFF) | 3.72% | ★★★★★☆ |
| Charter Hall Group (ASX:CHC) | 3.70% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.39% | ★★★★★☆ |
| Diversified United Investment (ASX:DUI) | 3.12% | ★★★★★☆ |
Click here to see the full list of 31 stocks from our Top ASX Dividend Stocks screener.
Here we highlight a subset of our preferred stocks from the screener.
Beacon Lighting Group
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Beacon Lighting Group Limited (ASX:BLX) is a retailer of lighting products operating in Australia and internationally, with a market cap of A$526.26 million.
Operations: Beacon Lighting Group Limited generates revenue primarily from the sale of light fittings, fans, and energy-efficient products amounting to A$312.87 million.
Dividend Yield: 3.6%
Beacon Lighting Group's dividend payments, while covered by both earnings (59.4% payout ratio) and cash flows (34.3% cash payout ratio), have been volatile over the past decade, with periods of significant drops exceeding 20%. Although the dividend yield of 3.58% is lower than the top 25% in Australia, BLX trades at a significant discount to its estimated fair value, potentially offering good value for investors seeking dividend stocks with growth potential.
Diversified United Investment
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Diversified United Investment Limited, with a market cap of A$1.11 billion, is a publicly owned investment manager.
Operations: Diversified United Investment Limited generates revenue of A$51.05 million from its investment company segment.
Dividend Yield: 3.1%
Diversified United Investment offers a reliable dividend yield of 3.12%, which, while lower than the top 25% in the Australian market, has been stable and growing over the past decade. The company's dividends are well-covered by both earnings (87.8% payout ratio) and free cash flows (87.7% cash payout ratio), ensuring sustainability. Despite not being among the highest-yielding stocks, DUI's consistency makes it a dependable choice for dividend investors seeking stability.