3 Top ASX Dividend Stocks To Consider

Amidst the recent fluctuations in the Australian market, including a significant downturn followed by a projected rebound, investors are keenly observing how these shifts might present new opportunities. In such a dynamic environment, dividend stocks can offer stability and potential income streams, making them an attractive consideration for those looking to navigate current market conditions.

Top 10 Dividend Stocks In Australia

Name	Dividend Yield	Dividend Rating
IPH (ASX:IPH)	7.73%	★★★★★☆
Accent Group (ASX:AX1)	7.28%	★★★★★☆
Sugar Terminals (NSX:SUG)	7.96%	★★★★★☆
GR Engineering Services (ASX:GNG)	6.55%	★★★★★☆
Super Retail Group (ASX:SUL)	9.16%	★★★★★☆
Lindsay Australia (ASX:LAU)	6.81%	★★★★★☆
MFF Capital Investments (ASX:MFF)	3.83%	★★★★★☆
Nick Scali (ASX:NCK)	3.82%	★★★★★☆
Lycopodium (ASX:LYL)	7.33%	★★★★★☆
Fiducian Group (ASX:FID)	4.60%	★★★★★☆

Click here to see the full list of 30 stocks from our Top ASX Dividend Stocks screener.

Let's take a closer look at a couple of our picks from the screened companies.

Aspen Group (ASX:APZ)

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

Overview: Aspen Group (ASX:APZ) is a prominent provider of quality accommodation in residential, retirement and park communities, with a market cap of A$566.27 million.

Operations: Aspen Group generates revenue from its operations in residential, retirement, and park communities.

Dividend Yield: 3.5%

Aspen Group's dividend payments have shown volatility over the past decade, with a history of unstable and unreliable distributions. Despite this, current dividends are covered by both earnings and cash flows, with payout ratios of 58.5% and 72.9%, respectively. The company trades at a good relative value compared to peers and is priced below its estimated fair value by 37%. Recent earnings growth was strong, although impacted by large one-off items.

• Delve into the full analysis dividend report here for a deeper understanding of Aspen Group.
• The valuation report we've compiled suggests that Aspen Group's current price could be quite moderate.

Carlton Investments (ASX:CIN)

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

Overview: Carlton Investments Limited is a publicly owned asset management holding company with a market cap of A$832.43 million.

Operations: Carlton Investments Limited generates revenue primarily through the acquisition and long-term holding of shares and units, amounting to A$42.01 million.

Dividend Yield: 3.3%

Carlton Investments has shown consistent earnings growth of 4% annually over the past five years, supporting its dividend payments. Despite a payout ratio of 72.5% and a cash payout ratio of 68.9%, indicating coverage by both earnings and cash flows, dividends have been volatile over the last decade. Recent announcements include an interim fully franked dividend of A$0.45 per ordinary share, reflecting an increase in distributions despite historical volatility in payments.

• Click here and access our complete dividend analysis report to understand the dynamics of Carlton Investments.
• Our comprehensive valuation report raises the possibility that Carlton Investments is priced higher than what may be justified by its financials.

NRW Holdings (ASX:NWH)

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

Overview: NRW Holdings Limited, with a market cap of A$1.28 billion, offers diversified contract services to the resources and infrastructure sectors in Australia through its subsidiaries.

Operations: NRW Holdings Limited generates revenue through its key segments: MET (A$853.22 million), Civil (A$776.06 million), and Mining (A$1.56 billion).

Dividend Yield: 5.5%

NRW Holdings' dividend payments have been unstable over the past decade, yet recent increases indicate a positive trend. The dividends are covered by earnings and cash flows, with payout ratios of 63.4% and 55.3%, respectively. Despite trading at 49.9% below estimated fair value, its dividend yield is lower than top-tier Australian payers. Recent executive changes include appointing Peter Bryant as CFO, potentially influencing future financial strategies and stability in dividend distributions.

• Click to explore a detailed breakdown of our findings in NRW Holdings' dividend report.
• The analysis detailed in our NRW Holdings valuation report hints at an deflated share price compared to its estimated value.

Where To Now?

• Delve into our full catalog of 30 Top ASX Dividend Stocks here.
• Have you diversified into these companies? Leverage the power of Simply Wall St's portfolio to keep a close eye on market movements affecting your investments.
• Enhance your investing ability with the Simply Wall St app and enjoy free access to essential market intelligence spanning every continent.

Ready To Venture Into Other Investment Styles?

• 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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