Top ASX Dividend Stocks To Consider In October 2024
In This Article:
As the Australian market remains relatively stable with the ASX200 closing slightly down at 8,211 points, investors are keenly anticipating the upcoming Quarterly CPI data to gauge economic trends. In this context of cautious market movements and sector-specific fluctuations, dividend stocks continue to be an attractive option for those seeking steady income streams amidst uncertain conditions.
Top 10 Dividend Stocks In Australia
| Name | Dividend Yield | Dividend Rating |
| Perenti (ASX:PRN) | 6.72% | ★★★★★☆ |
| Nick Scali (ASX:NCK) | 4.55% | ★★★★★☆ |
| Super Retail Group (ASX:SUL) | 7.84% | ★★★★★☆ |
| Collins Foods (ASX:CKF) | 3.33% | ★★★★★☆ |
| MFF Capital Investments (ASX:MFF) | 3.60% | ★★★★★☆ |
| Fiducian Group (ASX:FID) | 4.25% | ★★★★★☆ |
| National Storage REIT (ASX:NSR) | 4.45% | ★★★★★☆ |
| Premier Investments (ASX:PMV) | 4.48% | ★★★★★☆ |
| New Hope (ASX:NHC) | 7.93% | ★★★★☆☆ |
| Australian United Investment (ASX:AUI) | 3.41% | ★★★★☆☆ |
Click here to see the full list of 36 stocks from our Top ASX Dividend Stocks screener.
Let's explore several standout options from the results in the screener.
Amotiv
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Amotiv Limited, with a market cap of A$1.52 billion, operates through its subsidiaries to manufacture, import, distribute, and sell automotive products across Australia, New Zealand, Thailand, South Korea, France, and the United States.
Operations: Amotiv Limited generates revenue through its segments of Powertrain & Undercar (A$313.90 million), Lighting Power & Electrical (A$324.47 million), and 4WD Accessories & Trailering (A$348.81 million).
Dividend Yield: 3.7%
Amotiv's dividend payments have been volatile over the past decade, with a current yield of 3.75%, which is below the top quartile in Australia. However, dividends are well-covered by both earnings (57.2% payout ratio) and cash flows (37.7% cash payout ratio). The stock trades at a significant discount to its estimated fair value and recent initiatives include a share buyback program representing 5% of issued capital, potentially enhancing shareholder value amidst leadership changes.
Kina Securities
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Kina Securities Limited operates in Papua New Guinea, offering commercial banking, financial services, fund administration, investment management, and share brokerage services with a market cap of A$309.55 million.
Operations: Kina Securities Limited generates its revenue primarily from Banking & Finance, including Corporate services, amounting to PGK 391.80 million, and Wealth Management services contributing PGK 39.65 million.