Undervalued Australian stocks offering high dividends

A few ASX stocks with a high dividend yield are the favourite of investors who like to add these to their portfolio for the dual opportunity it offers.

Besides being a source of good passive income, such stocks also offer a growth opportunity in the event of these realising their full potential.

Beach Energy Ltd (ASX: BPT)

has delivered strong FY25 results, with material growth across all key metrics. Company Production rose 9% to 19.7 MMboe, while sales volumes increased by 16% to 24.7 MMboe and driving sales revenue was higher by 13% to $2.0 billion. The average realized petrol price of $10.7/GJ which was up 13% year over year, helped to support the 20% increase in underlying EBITDA to $1.1 billion. Operating cash flow rose 46% to $1.1 billion, while pre-growth free cash flow more than increased fourfold to $657 million, indicating better margins and capital discipline. The company's record fully franked final dividend of 6 cents per share, a 200% increase, highlighted its strong financial position and commitment to capital returns. These results demonstrate Beach Energy's better efficiency, operational expertise, and ability to capitalize on favourable market conditions which is preparing the company for long-term value creation and expansion.

Atlas Arteria (ASX: ALX)

has delivered a steady H1 FY25 performance by having strong revenue and cash flow growth despite one-off tax impacts. Strong traffic trends assisted the company report proportional toll revenue of $954.5 million, an 8.1% increase over H1 FY24. While free cash flow increased 9.0% to $281.0 million, or 19.4 cents per security, proportional EBITDA increased 7.8% to $729.2 million. The French Temporary Supplemental Tax was the main cause of the net profit after tax, which was $73.3 million, a 32.9% decrease from the previous year. As anticipated, centralised costs came to $19.7 million. In keeping with H1 FY24, the Board declared a distribution of 20.0 cps, which reflects ALX's continuing focus on steady shareholder returns.

Healius Limited (ASX: HLS)

has reported its FY25 results which has reflected solid top-line growth despite ongoing challenges. While Agilex revenue decreased 3.3%, pathology revenue (ex-Agilex) increased 6.0%, adding significantly to the group's 5.7% year-on-year increase in revenue to $1.34 billion. Despite a 27.2% decline, underlying EBIT of $17.1 million was in line with consensus expectations, while underlying EBITDA came in at $239.3 million, down 4.0% from the previous corresponding period. The reported EBIT loss of $527.0 million was driven by non-underlying and discontinued operations, such as the sale of Lumus Imaging, digital investments, restructure, and impairment charges. The group's reported EBITDA loss was $302.7 million, a decrease from $410.4 million the year before. Crucially, Healius finished the period with $57.2 million in net cash as of June 30, 2025, ensuring its continued execution of its strategy in pathology and debt reduction efforts.

(Source: Company Announcements)