Every investor yearns for High Yield Dividend Stocks without paying heed to select the most appropriate time and whether such dividend yield is sustainable.
The time prior to earnings season is considered best for growing companies to invest in Top Dividend Stocks.
Woodside Energy Group Limited (ASX: WDS)
Woodside Energy Group Limited is positioning to become a global LNG powerhouse with definitive agreement to acquire Tellurian (NYSE: TELL) and its Driftwood LNG attains an attractive development opportunity.
Woodside, a leader in the development of LNG industry in Australia has world class capabilities and a proven track record. With this fully permitted opportunity, leveraging its global LNG expertise, it can unlock a significant development option for cash generation potential to support long term growth.
Strategically, Woodside made significant moves in its joint venture partnerships and LNG supply agreements. The company finalized the sale of a 15.1% non-operated participating interest in the Scarborough Joint Venture to JERA, a transaction valued at approximately $1,400 million. Additionally, Woodside completed the sale of a 10% interest in the same venture to LNG Japan for $910 million in March 2024.
In the first quarter of fiscal year 2024, Woodside reported a production of 44.9 million barrels of oil equivalent (MMboe), translating to a daily average of 494 thousand barrels of oil equivalent (Mboe/day). This figure represented a 7% decrease from the previous quarter (Q4 2023), primarily due to lower production levels at key assets such as Bass Strait, Pyrenees, and Pluto, although partially offset by increased output at Mad Dog Phase 2.
Woodside Energy has adopted robust hedging strategies to mitigate commodity price risks effectively. In 2023, the company hedged approximately 22 MMboe, incurring a $200 million pre-tax expense. As of December 31, 2023, Woodside secured hedges for 29 MMboe of 2024 production at an average price of $76 per barrel. These measures, which include LNG hedges using Henry Hub and TTF swaps, cover 63% of anticipated 2024 volumes and 17% of 2025 volumes. This approach ensures stable revenue streams and strengthens financial resilience amidst market volatility.
The company is well recognised among ASX Dividend Stocks having continued its tradition of maintaining a consistent dividend policy. In fiscal year 2023, it declared a final dividend of US 60 cents per share (cps), which contributed to a total full-year dividend of US 140 cps.
Scentre Group (ASX: SCG)
Scentre Group leverages its strategic presence with 42 Westfield destinations strategically located in major population centers across Australia and New Zealand, solidifying its prominent position as a retail property owner and operator.
The company reported customer visitation to its Westfield destinations reached 175 million in the first 18 weeks up to 5 May 2024, an increase of 2.8 million compared to the same period in 2023.
During the three months ended 31 March 2024, Scentre’s business partners reported sales of $6.5 billion, registering a 2.4% increase compared to the same period in 2023. On a rolling 12-month basis to 31 March 2024, sales surged $28.5 billion, higher by $1.0 billion than the corresponding period in 2023.
The company reported cash collections for the first four months at $902 million, rising by $38 million compared to the same period in 2023. As of 30 April 2024, portfolio occupancy was 99.2%.
Among the Best Dividend Stocks ASX, Scentre Group has established a reliable track record as a dividend-paying company, demonstrating consistent growth in dividend per share (DPS) over recent years. Beginning at 0.07 AUD in 2020, the DPS increased steadily to 0.17 AUD by FY23. This upward trend has led to a notable rise in dividend yield, climbing from 2.52% in FY20 to 5.55% by FY23.
The company is expected to make significant advancements in its development activities, with a future development pipeline exceeding $4 billion. This pipeline is targeted to yield returns in the range of 6-7%, with an incremental Internal Rate of Return (IRR) of 12-15%, highlighting promising return-generating and growth prospects.
Source: Company's Report
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