Top ASX Dividend Stocks To Consider In October 2024

As the Australian market remains relatively stable with the ASX200 closing slightly down at 8,211 points, investors are keenly anticipating the upcoming Quarterly CPI data to gauge economic trends. In this context of cautious market movements and sector-specific fluctuations, dividend stocks continue to be an attractive option for those seeking steady income streams amidst uncertain conditions.

Top 10 Dividend Stocks In Australia

Name	Dividend Yield	Dividend Rating
Perenti (ASX:PRN)	6.72%	★★★★★☆
Nick Scali (ASX:NCK)	4.55%	★★★★★☆
Super Retail Group (ASX:SUL)	7.84%	★★★★★☆
Collins Foods (ASX:CKF)	3.33%	★★★★★☆
MFF Capital Investments (ASX:MFF)	3.60%	★★★★★☆
Fiducian Group (ASX:FID)	4.25%	★★★★★☆
National Storage REIT (ASX:NSR)	4.45%	★★★★★☆
Premier Investments (ASX:PMV)	4.48%	★★★★★☆
New Hope (ASX:NHC)	7.93%	★★★★☆☆
Australian United Investment (ASX:AUI)	3.41%	★★★★☆☆

Click here to see the full list of 36 stocks from our Top ASX Dividend Stocks screener.

Let's explore several standout options from the results in the screener.

Amotiv (ASX:AOV)

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

Overview: Amotiv Limited, with a market cap of A$1.52 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 through its segments of Powertrain & Undercar (A$313.90 million), Lighting Power & Electrical (A$324.47 million), and 4WD Accessories & Trailering (A$348.81 million).

Dividend Yield: 3.7%

Amotiv's dividend payments have been volatile over the past decade, with a current yield of 3.75%, which is below the top quartile in Australia. However, dividends are well-covered by both earnings (57.2% payout ratio) and cash flows (37.7% cash payout ratio). The stock trades at a significant discount to its estimated fair value and recent initiatives include a share buyback program representing 5% of issued capital, potentially enhancing shareholder value amidst leadership changes.

• Click to explore a detailed breakdown of our findings in Amotiv's dividend report.
• According our valuation report, there's an indication that Amotiv's share price might be on the cheaper side.

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 services with a market cap of A$309.55 million.

Operations: Kina Securities Limited generates its revenue primarily from Banking & Finance, including Corporate services, amounting to PGK 391.80 million, and Wealth Management services contributing PGK 39.65 million.

Dividend Yield: 9.1%

Kina Securities offers a high dividend yield, ranking in the top 25% of Australian payers, with dividends covered by earnings at a 75.5% payout ratio. However, its dividend history is volatile and unreliable over nine years. Recent earnings showed a slight decline in net income despite increased net interest income. Trading below estimated fair value suggests potential for capital appreciation, though high bad loan levels and special calls may indicate underlying risks.

• Unlock comprehensive insights into our analysis of Kina Securities stock in this dividend report.
• In light of our recent valuation report, it seems possible that Kina Securities is trading behind its estimated value.

Lindsay Australia (ASX:LAU)

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

Overview: Lindsay Australia Limited operates in the transport, logistics, and rural supply sectors serving the food processing, food services, fresh produce, and horticulture industries in Australia with a market cap of A$279.99 million.

Operations: Lindsay Australia Limited generates revenue through its segments in Transport (A$577.36 million), Rural (A$155.44 million), and Hunters (A$87.44 million).

Dividend Yield: 5.5%

Lindsay Australia's dividend payments, while covered by a low cash payout ratio of 18.8% and a reasonable earnings payout ratio of 56%, have been historically volatile over the past decade. Recent financial results show a decrease in net income to A$27.27 million from A$34.52 million, despite increased sales, impacting profit margins now at 3.4%. Trading at good value compared to peers, its dividend yield of 5.51% remains below Australia's top payers.

• Navigate through the intricacies of Lindsay Australia with our comprehensive dividend report here.
• The valuation report we've compiled suggests that Lindsay Australia's current price could be quite moderate.

Taking Advantage

• Delve into our full catalog of 36 Top ASX Dividend Stocks here.
• 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.
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Searching for a Fresh Perspective?

• 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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