3 Leading ASX Dividend Stocks Yielding Up To 6.7%

Over the last 7 days, the Australian market has dropped 3.7%, but it has risen by 4.4% over the past year, with earnings expected to grow by 13% annually in the coming years. In this fluctuating environment, identifying strong dividend stocks can provide a reliable income stream and potential for capital growth, making them an attractive option for investors seeking stability and returns.

Top 10 Dividend Stocks In Australia

Name	Dividend Yield	Dividend Rating
Lindsay Australia (ASX:LAU)	6.74%	★★★★★☆
Collins Foods (ASX:CKF)	3.25%	★★★★★☆
Nick Scali (ASX:NCK)	4.72%	★★★★★☆
Fiducian Group (ASX:FID)	4.16%	★★★★★☆
Eagers Automotive (ASX:APE)	7.39%	★★★★★☆
Centuria Capital Group (ASX:CNI)	7.32%	★★★★★☆
MFF Capital Investments (ASX:MFF)	3.71%	★★★★★☆
Charter Hall Group (ASX:CHC)	3.64%	★★★★★☆
Premier Investments (ASX:PMV)	4.36%	★★★★★☆
Diversified United Investment (ASX:DUI)	3.11%	★★★★★☆

Click here to see the full list of 31 stocks from our Top ASX Dividend Stocks screener.

Let's dive into some prime choices out of the screener.

Accent Group (ASX:AX1)

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

Overview: Accent Group Limited operates in the retail, distribution, and franchise sectors for lifestyle footwear, apparel, and accessories in Australia and New Zealand with a market cap of A$1.18 billion.

Operations: Accent Group Limited generates revenue primarily from its multi-channel retail operations of performance and lifestyle footwear, amounting to A$1.40 billion.

Dividend Yield: 6.7%

Accent Group's dividend yield of 6.67% places it in the top 25% of Australian dividend payers, but its payments have been unreliable and volatile over the past decade. Despite a high payout ratio (107.2%) indicating dividends are not well covered by earnings, the cash payout ratio is low at 39%, suggesting better coverage by cash flows. Recent changes include appointing James Anderson as Chief Information Officer to lead technology and transformation initiatives starting June 18th, 2024.

• Navigate through the intricacies of Accent Group with our comprehensive dividend report here.
• Our expertly prepared valuation report Accent Group implies its share price may be lower than expected.

Fiducian Group (ASX:FID)

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

Overview: Fiducian Group Ltd, with a market cap of A$222.23 million, operates through its subsidiaries to offer financial services in Australia.

Operations: Fiducian Group Ltd generates revenue through four main segments: Funds Management (A$20.49 million), Corporate Services (A$12.06 million), Financial Planning (A$28.95 million), and Platform Administration (A$15.38 million).

Dividend Yield: 4.2%

Fiducian Group pays a reliable dividend of 4.16%, with stable payments over the past decade and consistent growth in dividends. The payout ratio of 83.7% indicates that dividends are well-covered by earnings, while a cash payout ratio of 60.5% shows strong coverage by cash flows. Although trading at 20.7% below its estimated fair value, FID's yield is lower than the top-tier Australian dividend payers (6.33%). Earnings grew by 12% last year, supporting future payouts.

• Get an in-depth perspective on Fiducian Group's performance by reading our dividend report here.
• Upon reviewing our latest valuation report, Fiducian Group's share price might be too pessimistic.

Lindsay Australia (ASX:LAU)

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

Overview: Lindsay Australia Limited (ASX: LAU) operates in the transport, logistics, and rural supply sectors, servicing food processing, food services, fresh produce, and horticulture industries in Australia with a market cap of A$278.06 million.

Operations: Lindsay Australia Limited's revenue segments include A$158.73 million from Rural and A$571.38 million from Transport.

Dividend Yield: 6.7%

Lindsay Australia offers a compelling dividend profile with a payout ratio of 43.7%, ensuring dividends are well-covered by earnings. The cash payout ratio of 38.9% further supports sustainability, although the dividend track record has been volatile over the past decade. Trading at 18.7% below its estimated fair value, LAU's yield stands at 6.74%, placing it in the top quartile of Australian dividend payers despite past inconsistencies in payments and growth patterns.

• Dive into the specifics of Lindsay Australia here with our thorough dividend report.
• Our valuation report unveils the possibility Lindsay Australia's shares may be trading at a discount.

Key Takeaways

• Access the full spectrum of 31 Top ASX Dividend Stocks by clicking on this link.
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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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