Top ASX Dividend Stocks For November 2024

As the ASX200 remains steady at 8,284 points, investors are closely monitoring sector performances with Utilities and Energy leading gains while Health Care and Information Technology face declines. In this fluctuating environment, dividend stocks can provide a stable income stream for investors seeking reliable returns amidst market uncertainties.

Top 10 Dividend Stocks In Australia

Name	Dividend Yield	Dividend Rating
Perenti (ASX:PRN)	6.75%	★★★★★☆
Nick Scali (ASX:NCK)	4.71%	★★★★★☆
Super Retail Group (ASX:SUL)	7.87%	★★★★★☆
Collins Foods (ASX:CKF)	3.29%	★★★★★☆
MFF Capital Investments (ASX:MFF)	3.30%	★★★★★☆
Fiducian Group (ASX:FID)	4.32%	★★★★★☆
National Storage REIT (ASX:NSR)	4.44%	★★★★★☆
Premier Investments (ASX:PMV)	4.08%	★★★★★☆
New Hope (ASX:NHC)	8.30%	★★★★☆☆
CTI Logistics (ASX:CLX)	5.56%	★★★★☆☆

Click here to see the full list of 33 stocks from our Top ASX Dividend Stocks screener.

Let's review some notable picks from our screened stocks.

Ridley (ASX:RIC)

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

Overview: Ridley Corporation Limited, with a market cap of A$875.37 million, operates in Australia providing animal nutrition solutions through its subsidiaries.

Operations: Ridley Corporation Limited generates revenue from two main segments: Bulk Stockfeeds, contributing A$886.59 million, and Packaged/Ingredients, accounting for A$376.31 million.

Dividend Yield: 3.4%

Ridley Corporation's dividend yield of 3.39% is below the top quartile in Australia, but its dividends are covered by earnings and cash flows with payout ratios of 71.7% and 41.3%, respectively, suggesting sustainability despite past volatility. Recent strategic moves include a share buyback program worth A$20 million to enhance shareholder value, alongside board changes with AGR Partners' Dan Masters joining as a non-executive director, potentially influencing future dividend stability and growth strategies.

• Delve into the full analysis dividend report here for a deeper understanding of Ridley.
• Insights from our recent valuation report point to the potential undervaluation of Ridley shares in the market.

SHAPE Australia (ASX:SHA)

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

Overview: SHAPE Australia Corporation Limited (ASX:SHA) operates in the construction, fitout, and refurbishment of commercial properties in Australia with a market cap of A$228.01 million.

Operations: SHAPE Australia Corporation Limited generates revenue primarily from its heavy construction segment, amounting to A$839 million.

Dividend Yield: 6.5%

SHAPE Australia's dividend yield is among the top 25% in Australia, with a payout ratio of 88.3% and a cash payout ratio of 53.2%, indicating coverage by earnings and cash flows despite a volatile three-year track record. Recent announcements include an increase to A$0.09 per share for the six months ending June 2024, reflecting improved net income from A$10.5 million to A$16.01 million year-on-year, though sales slightly declined to A$838.73 million.

• Click here and access our complete dividend analysis report to understand the dynamics of SHAPE Australia.
• In light of our recent valuation report, it seems possible that SHAPE Australia is trading behind its estimated value.

Santos (ASX:STO)

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

Overview: Santos Limited is involved in the exploration, development, production, transportation, and marketing of hydrocarbons in Australia and Papua New Guinea with a market cap of A$21.77 billion.

Operations: Santos Limited generates revenue from several key segments, including Cooper Basin ($612 million), Queensland & NSW ($1.31 billion), Western Australia ($881 million), Papua New Guinea (PNG) ($2.71 billion), and Northern Australia & Timor-Leste ($84 million).

Dividend Yield: 7.0%

Santos offers a high dividend yield within the top 25% in Australia but faces challenges with sustainability due to a cash payout ratio of 164.4%, indicating dividends are not well-covered by free cash flows. Despite past volatility and unreliability, dividends have grown over the last decade. Recent changes include an ordinary dividend of US$0.13 per share for H1 2024 and executive shifts, notably appointing Sherry Duhe as CFO, potentially impacting future financial strategies.

• Navigate through the intricacies of Santos with our comprehensive dividend report here.
• Upon reviewing our latest valuation report, Santos' share price might be too pessimistic.

Taking Advantage

• Navigate through the entire inventory of 33 Top ASX Dividend Stocks here.
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Seeking Other Investments?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
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• 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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