Regular dividends really matter the most for systemic returns. Here we present the best dividend stocks ASX, which are as follows:
Note: Market cap, share price, and dividend yields are mentioned below as of 7 March 2024.
1. Nickel Industries Limited (ASX: NIC)
Market capitalization: $3.54 billion
CMP: $0.825
NIC is low cost producer of nickel pig Iron in Australia. It has firmly established itself as a reliable provider of consistent returns for shareholders through a steadfast commitment to regular dividends. The company's noteworthy dividend yield positions it as an attractive option for investors seeking stability and dependable returns with a lower risk profile.
2. Eagers Automotive Limited (ASX: APE)
Market capitalization: $3.54 billion
CMP: $14.60
APE is actively involved in selling of new and motor vehicles. The dividend history of APE reveals a compelling narrative of sustained growth. The DPS have experienced a remarkable Compound Annual Growth Rate (CAGR) of 12.4% over the long term. This growth trajectory is particularly noteworthy, starting at 23 cents in FY13 and reaching an impressive 74 cents in FY2023.
3. BSP Financial Group Limited (ASX: BFL)
Market capitalization: $2.70 billion
CMP: $5.78
BSP is a leading financial services provider. The company is more appealing to investors looking for both financial stability and a reliable source of income because of its consistent dividend payouts.
4. Kina Securities Limited (ASX: KSL)
Market capitalization: $242.46 million
CMP: $0.845
In PNG, KSL is a well-rounded provider of financial services, giving its clients access to a wide range of financial options. Regular dividend payments by the company to its shareholders have long been a source of steady returns.
5. Metcash Limited (ASX: MTS)
Market capitalization: $4.04 billion
CMP: $3.765
Leading wholesale distributor and marketer, MTS specializes in hardware, fresh food, groceries, liquor, and car parts and accessories. Metcash Limited's consistent and growing dividend payments underscore its reliability as an investment option.
6. Accent Group Limited (ASX: AX1)
Market capitalization: $1.01 billion
CMP: $1.953
AX1 is a consumer-focused, digitally integrated company that operates in the retail and distribution of branded clothing, accessories, and performance and lifestyle footwear. The company has not only sustained its dividend payouts but has significantly increased them, showcasing robust financial performance and a positive outlook for the company.
7. BHP Group Limited (ASX: BHP)
Market capitalization: $222.31 billion
CMP: $43.86
BHP is a leading resources company in Australia, is globally renowned for its extraction and production of critical commodities like iron ore, copper, nickel, potash, and metallurgical coal.
8. Orora Limited (ASX: ORA)
Market capitalization: $3.56 billion
CMP: $2.65
ORA offers tailored packaging and visual communication solutions to customers globally. The company boasts a strong dividend history.
9. Spark New Zealand Limited (ASX: SPK)
Market capitalization: $8.51 billion
CMP: $4.69
SPK is a telecommunications and digital services company that offers mobile, voice, broadband, cloud, security, entertainment services to government and other large enterprises.
10. Zimplats Holdings Limited (ASX: ZIM)
Market capitalization: $1.75 billion
CMP: $16.27
ZIM extracts platinum group metals like platinum, palladium, and others, selling a product called white matte. The company has maintained strong dividend track record.
Reference: *All Data has been sourced from Company announcements and Refinitiv, Thomson Reuters
Frequently Asked Questions (F.A.Q.)
Yancoal Australia Limited offers a dividend yield of 11.28% as of 7 March 2024. The annual dividend yield of Zimplats Holdings Limited is 17.53% as of 7 March 2024.
2.Which is a better option for an investor: stocks with capital gains or stocks that pay dividends?
The primary goal of an investor is to see the growth of their investment outpacing the rate of inflation. Apart from dividend payments, well-regarded ASX companies with robust earnings also provide a higher return on equity. A high yield on the net-gain growth of investments is indicated when total returns are calculated using dividend gains in addition to stock appreciation.
3.An ASX dividend reinvestment plan: what is it?
An exclusive way to increase your ownership stake in dividend-paying companies is through a dividend reinvestment plan. Dividend payments to shareholders can be made in the form of additional company shares rather than cash. Certain companies provide a dividend reinvestment price that is less than the current market value.
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