When investing in equities, dividends can be a crucial factor to consider. Particularly for those looking to generate income from their portfolio.
Well-established blue-chip companies like major banks are less likely to experience significant share price growth over many years. However, as they are now well-established and profitable, they can distribute their earnings to shareholders rather than reinvesting that money into growing the company.
Recent pressures in the share market due to inflation, rising interest rates, and recession concerns could alter the Australian dividend landscape in 2023-24.
Here, we have compiled a list of Australian Securities Exchange (ASX) dividend stocks that could be worth monitoring in August 2023. Note that the following ASX stocks can all be traded with FP Markets via Contracts for Differences (CFDs).
Pilbara Minerals (PLS) is an Australian lithium miner based in the Pilbara region in Western Australia. The company has 100% ownership of Pilgangoora Lithium-Tantalum, the world's largest independent hard-rock lithium operation.
Important Metrics:
As of July 20th, Pilbara Minerals has a dividend yield of 2.12%, the Price-to-Earnings (P/E) ratio is 9.21, and a 19.42% dividend payout ratio.
Carsales is an Australian-based company primarily operating an automotive buying and selling website. Their revenues come from providing a platform for advertisers as well as fees for listing.
Important Metrics:
As of July 20th, The company has a dividend yield of 2.22%, P/E ratio of 16.09, and dividend payout ratio is 35.53%.
Carsales has generated approximately $599.1 million in revenue over the past 12 months.
Brickworks is an Australian company engaged in the distribution and manufacturing of building products, as well as some property investments.
Important Metrics:
As of July 20th company’s dividend yield is 2.54%, the P/E ratio is 6.12, and the dividend payout ratio is 15.44%.
Brickworks has a trailing 12-month revenue of around $1.2 billion.
Helia Group Limited (HLI), previously known as Genworth Mortgage Insurance Australia Limited, operates as the provider of Lender's Mortgage Insurance (LMI) in Australia.
LMI facilitates residential mortgage lending by shifting risk from lenders to LMI providers, primarily for high loan-to-value ratio (HLVR) residential mortgage loans. Currently, HLI offers three primary LMI products: Standard LMI, Homebuyer Plus, and Business Select/Low Doc.
Important Metrics:
As of July 20th, the company's Dividend yield is 14.56%, the P/E ratio is 7.46, and the dividend payout ratio is 49.02%.
Pro Medicus Ltd. is a company that specializes in providing radiology information technology software and services to hospitals, imaging centers, and healthcare groups. They offer installation and support services for their products, including radiology information systems and picture archiving and communication systems.
Important Metrics:
As of July 20th, the company Dividend yield is 0.38%, the P/E ratio: is 134.90, and the payout ratio is 51.17%.
Pro Medicus has a trailing 12-month revenue of around $106.7 million.
GR Engineering Services Ltd (GNG) is an Australian mining services company specializing in engineering, construction, and operations services within the mineral processing and related industries.
Moreover, GNG boasts one of the highest dividend yields in its sector, making it an appealing choice for investors seeking portfolio diversification or aiming to generate passive income during economic downturns.
Furthermore, GNG's emphasis on free cash flow has strengthened the company's dividend policy, ensuring consistent payouts throughout the years.
Important Metrics:
As of July 20th, the company dividend yield is 9.09%, P/E ratio:10.71 and the dividend payout ratio is 93.00%.
New Hope is a leading Australian company specializing in the development and operation of coal mines and the management of ports and logistics. In addition, the company is also involved in agriculture, oil, and gas development and production.
Important Metrics:
As of July 20th, the company's dividend yield is 13.92% (TTM), the P/E ratio is 3.61, and the dividend payout ratio is 45.54%.
Gold Road Resources Ltd. specializes in gold exploration, focusing on the Yamarna Belt and projects including Gruyere, Central Bore, and Attila. The company operates in Development & Production, and Exploration segments and was founded in 2004 with headquarters in West Perth, Australia.
Important Metrics:
As of July 20th, the company’s dividend yield is 0.91%, the P/E ratio is 25.425, and the dividend payout ratio is 22.29%. Gold Road Resources has a trailing 12-month revenue of around $382.9 million.
Mercury NZ produces electricity in New Zealand using nine hydro generation stations, five wind plants, and five geothermal generation stations.
New Zealand is striving to decrease its dependency on natural gas and coal. The approach taken by New Zealand involves tradable carbon credits, which establish a market mechanism aimed at efficiently reducing carbon emissions.
Gradually, the government may raise the expense of purchasing carbon credits, thereby increasing the motivation to reduce emissions. This could lead to the gradual elimination of coal and natural gas usage and result in an increase in electricity prices.
Important Metrics:
As of July 20th, the company has a Dividend yield of 3.23%, a P/E ratio of 32.23, and a dividend payout ratio of 124.06%.
Mineral Resources Limited (MIN) is a prominent resources company with a diversified range of operations across Western Australia, including lithium, iron ore, energy, and mining services.
Important Metrics:
As of July 20th, the company's dividend yield is 3.05%, and P/E ratio is 19.08, and the dividend payout ratio is 57.62%. Mineral Resources has a trailing 12-month revenue of around $4.4 billion.
Keeping an eye on stocks that offer potential dividends can be a valuable strategy for income-focused investors. If you want to enter the Australian equities market, these stocks might be worth watching throughout August 2023. All securities listed in this article are tradable via FP Markets through CFDs.
It's important to remember that market conditions can be volatile and unpredictable, so conducting thorough research and doing the required due diligence is essential before making any investment decisions.
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