Top ASX Dividend Stocks To Watch In November 2024

The Australian market has remained flat over the last week yet it is up 15% over the past year with earnings projected to grow by 13% annually. In this environment, identifying dividend stocks that offer reliable income and potential for capital appreciation can be a strategic move for investors seeking stability and growth.

Top 10 Dividend Stocks In Australia

Name	Dividend Yield	Dividend Rating
Perenti (ASX:PRN)	6.81%	★★★★★☆
Nick Scali (ASX:NCK)	4.67%	★★★★★☆
Super Retail Group (ASX:SUL)	8.05%	★★★★★☆
Collins Foods (ASX:CKF)	3.31%	★★★★★☆
Fiducian Group (ASX:FID)	4.32%	★★★★★☆
MFF Capital Investments (ASX:MFF)	3.27%	★★★★★☆
National Storage REIT (ASX:NSR)	4.45%	★★★★★☆
GrainCorp (ASX:GNC)	6.29%	★★★★★☆
Premier Investments (ASX:PMV)	4.15%	★★★★★☆
Sugar Terminals (NSX:SUG)	7.42%	★★★★☆☆

Click here to see the full list of 35 stocks from our Top ASX Dividend Stocks screener.

Here we highlight a subset of our preferred stocks from the screener.

Amotiv (ASX:AOV)

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Amotiv Limited, with a market cap of A$1.48 billion, operates through its subsidiaries to manufacture, import, distribute, and sell automotive products across Australia, New Zealand, Thailand, South Korea, France, and the United States.

Operations: Amotiv Limited generates revenue from three main segments: Powertrain & Undercar (A$313.90 million), Lighting Power & Electrical (A$324.47 million), and 4WD Accessories & Trailering (A$348.81 million).

Dividend Yield: 3.9%

Amotiv's dividend payments have been volatile over the past decade, with a recent fully franked final dividend of A$0.22 per share. Despite this instability, dividends are well covered by earnings and cash flows, with payout ratios of 57.2% and 37.7%, respectively. The company is trading at a discount to its estimated fair value, offering potential for capital appreciation alongside dividends. Recent share buyback initiatives may also enhance shareholder value in the long term.

• Click to explore a detailed breakdown of our findings in Amotiv's dividend report.
• Our valuation report here indicates Amotiv may be undervalued.

Kina Securities (ASX:KSL)

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Kina Securities Limited operates in Papua New Guinea, offering commercial banking, financial services, fund administration, investment management, and share brokerage with a market cap of A$290.83 million.

Operations: Kina Securities Limited generates revenue through its Banking & Finance segment, which accounts for PGK 391.80 million, and its Wealth Management services, contributing PGK 39.65 million.

Dividend Yield: 9.8%

Kina Securities offers a high dividend yield of 9.76%, ranking in the top 25% among Australian dividend payers, though its track record is volatile with less than a decade of payments. Dividends are currently covered by earnings at a payout ratio of 75.5%, forecasted to improve to 67.6% in three years, despite unstable past performance. Trading below estimated fair value suggests potential for capital appreciation, but investors should note the high level of bad loans at 7.9%.

• Get an in-depth perspective on Kina Securities' performance by reading our dividend report here.
• The valuation report we've compiled suggests that Kina Securities' current price could be quite moderate.

National Storage REIT (ASX:NSR)

Simply Wall St Dividend Rating: ★★★★★☆

Overview: National Storage REIT is the largest self-storage provider in Australia and New Zealand, operating over 225 centres to serve more than 90,000 residential and commercial customers, with a market cap of A$3.41 billion.

Operations: National Storage REIT generates revenue of A$354.69 million from the operation and management of its storage centres.

Dividend Yield: 4.5%

National Storage REIT maintains a stable dividend history with payments increasing over the past decade. Its current yield of 4.45% is lower than top-tier Australian dividend payers, yet dividends are reliably covered by earnings (payout ratio: 55.5%) and cash flows (cash payout ratio: 83%). Recent board changes include Simone Haslinger as a non-executive director, potentially bringing strategic insights to bolster future growth amidst mixed financial results for the year ending June 2024.

• Navigate through the intricacies of National Storage REIT with our comprehensive dividend report here.
• Upon reviewing our latest valuation report, National Storage REIT's share price might be too optimistic.

Taking Advantage

• Unlock more gems! Our Top ASX Dividend Stocks screener has unearthed 32 more companies for you to explore.Click here to unveil our expertly curated list of 35 Top ASX Dividend Stocks.
• Already own these companies? Bring clarity to your investment decisions by linking up your portfolio with Simply Wall St, where you can monitor all the vital signs of your stocks effortlessly.
• Maximize your investment potential with Simply Wall St, the comprehensive app that offers global market insights for free.

Interested In Other Possibilities?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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