3 ASX Dividend Shares to own for the Next 10 Years

Team Veye | 08-May-2024

It is very luring to invest in Best Dividend Stocks for long term and enjoy the passive income thus generated. Although it is a daunting task to select and hold such stocks for long term, certain careful scrutiny can help in avoiding the pitfalls.

Identifying the Best Long Term Dividend Stocks is easier said than done. The world is constantly changing, new headwinds and tailwinds emerging for different sectors. Stocks that pay dividends from a profitable company in growing industry with consistent dividend history can provide some assurance to a long term investor. 

Top Dividend Stocks for long term investing are

Bendigo and Adelaide Bank Limited (ASX: BEN)

Bendigo and Adelaide Bank Limited has demonstrated robust financial performance. Statutory net profit after tax surged by 13.8% to reach $282.3 million compared to the preceding half-year period, reflecting a solid growth trajectory. Cash earnings after tax also exhibited a healthy increase, totalling $268.2 million. 

Moreover, credit expenses saw a substantial decline of 61% to $10.8 million, showcasing prudent risk management practices. The bank's Liquidity Coverage Ratio (LCR) remained robust at 151.4%, underscoring its ability to meet short-term obligations. Amidst this positive performance, customer growth continued to flourish, with a significant year-on-year increase of 8.3% to 2.47 million. 

Bendigo and Adelaide Bank’s lending operations are both diversified and strategically concentrated, particularly within the Consumer & Residential lending segment and the Business & Agribusiness segment. The company's exposure to several long-term industry tailwinds, particularly in residential lending, signals a promising growth outlook. 

Kina Securities Limited (ASX: KSL)

Kina Securities Limited, headquartered in Papua New Guinea, operates through two primary segments: Banking & Finance and Wealth Management. 

KSL has demonstrated exceptional performance over the past five years, characterized by exponential revenue growth with a compound annual growth rate (CAGR) of approximately 18.36%. This remarkable revenue expansion signals sustained business growth and performance. Additionally, KSL has exhibited resilience in maintaining profitability amidst challenging economic conditions, as evidenced by a notable trend in net margins over the same period.

Moreover, KSL has consistently maintained a capital adequacy ratio (CAR) exceeding 20%, surpassing industry averages. Furthermore, KSL has experienced steady growth in overall assets annually, reflecting its strengthening financial position and strategic management.

The company is actively pursuing substantial scalability of its operations, highlighted by a targeted geographical expansion effort that initially involves bolstering its offerings and customer experience. Kina's existing operations in PNG have consistently delivered strong financial performances, demonstrating significant year-on-year growth.

Horizon Oil Limited (ASX: HZN)

Horizon Oil Limited’s production and sales volumes reached 763,145 barrels and 757,784 barrels, respectively, with the entire 2023 calendar year witnessing a significant uptick at 1,747,129 barrels and 1,731,571 barrels. 

In the latest Quarter, Revenue from production was US$28.9 million (exclusive of hedge receipts), aided by a record lifting in Maari which attracted a substantial premium. Year to date 2024 financial year revenue was US$95.1 million. Net operating cash flow for the quarter was US$21.7 million, with year to date 2024 financial year net operating cash flow of US$71.2 million. Cashflow remained robust through continued low capital expenditure, higher oil prices and strong Maari crude oil sales.

HZN paid interim dividend of AUD 1.5 cents per share totalling ~US$16 million (~A$24 million) on 26 April 2024. Horizon Oil Limited's strategy is to advance production enhancement initiatives, mainly at Maari and Block 22/12. Its strong balance sheet enables it to continue to prioritise development of its organic growth pipeline. 

Disclaimer

Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website www.veye.com.au), and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.

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