Top Dividend Stocks To Watch In August 2024

As global markets react positively to the Federal Reserve's announcement of potential interest rate cuts, major indices like the Dow Jones Industrial Average and S&P 500 are approaching record highs. This optimistic sentiment provides an opportune backdrop for investors looking at dividend stocks, which can offer both income and stability in such dynamic market conditions. In this environment, a good dividend stock is characterized by a strong track record of consistent payouts and solid financial health. With that in mind, here are three top dividend stocks to watch in August 2024.

Top 10 Dividend Stocks

Name	Dividend Yield	Dividend Rating
Yamato Kogyo (TSE:5444)	4.14%	★★★★★★
Tsubakimoto Chain (TSE:6371)	3.95%	★★★★★★
Guaranty Trust Holding (NGSE:GTCO)	6.97%	★★★★★★
Mitsubishi Research Institute (TSE:3636)	3.76%	★★★★★★
KurimotoLtd (TSE:5602)	4.74%	★★★★★★
Innotech (TSE:9880)	4.51%	★★★★★★
Business Brain Showa-Ota (TSE:9658)	4.04%	★★★★★★
FALCO HOLDINGS (TSE:4671)	6.38%	★★★★★★
James Latham (AIM:LTHM)	6.10%	★★★★★★
GakkyushaLtd (TSE:9769)	4.30%	★★★★★★

Click here to see the full list of 2036 stocks from our Top Dividend Stocks screener.

Here's a peek at a few of the choices from the screener.

Beijing Sanlian Hope Shin-Gosen Technical Service (SZSE:300384)

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

Overview: Beijing Sanlian Hope Shin-Gosen Technical Service Co., Ltd. operates in the technical services sector and has a market cap of approximately CN¥3.79 billion.

Operations: Beijing Sanlian Hope Shin-Gosen Technical Service Co., Ltd. generates revenue from its technical services operations and has a market cap of approximately CN¥3.79 billion.

Dividend Yield: 3.6%

Beijing Sanlian Hope Shin-Gosen Technical Service Co., Ltd. reported half-year earnings of CNY 173.32 million, up from CNY 142.98 million a year ago, with basic EPS rising to CNY 0.5433 from CNY 0.4482. Despite a volatile dividend history over the past nine years, recent dividends are well-covered by earnings (47.8% payout ratio) and cash flows (41.5% payout ratio). The company implemented a final cash dividend of CNY 4.80 per ten shares for 2023 in June 2024.

• Unlock comprehensive insights into our analysis of Beijing Sanlian Hope Shin-Gosen Technical Service stock in this dividend report.
• Our valuation report unveils the possibility Beijing Sanlian Hope Shin-Gosen Technical Service's shares may be trading at a discount.

Tsugami (TSE:6101)

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

Overview: Tsugami Corporation, along with its subsidiaries, manufactures and sells precision machine tools in Japan and has a market cap of ¥69.60 billion.

Operations: Tsugami Corporation generates revenue from various regions, including ¥71.11 billion from China, ¥5.33 billion from India, ¥29.24 billion from Japan, and ¥1.94 billion from Korea.

Dividend Yield: 3.1%

Tsugami's dividends are well-covered by earnings (33.7% payout ratio) and cash flows (34.6% cash payout ratio). Over the past 10 years, dividend payments have been stable and growing, currently yielding 3.14%. Recent activities include a share buyback of ¥215.2 million for 149,200 shares and the completion of payment for restricted stock compensation as approved in a June board meeting. The stock trades at a significant discount to its estimated fair value.

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

TURVO International (TWSE:2233)

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

Overview: TURVO International Co., Ltd. engages in the development, production, and sale of precision metal parts and components, with a market cap of NT$8.74 billion.

Operations: TURVO International Co., Ltd. generates revenue through the development, production, and sale of precision metal parts and components.

Dividend Yield: 3.3%

TURVO International's dividends are covered by earnings (50.5% payout ratio) and cash flows (73.6% cash payout ratio), but have been volatile over the past decade. Recent earnings growth of 25.3% is promising, with Q2 2024 net income rising to TWD 181.35 million from TWD 135.28 million a year ago. However, the dividend yield of 3.32% is lower than the top quartile in the TW market and recent dividend decreases raise concerns about stability.

• Click to explore a detailed breakdown of our findings in TURVO International's dividend report.
• Our valuation report unveils the possibility TURVO International's shares may be trading at a premium.

Make It Happen

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Want To Explore Some Alternatives?

• 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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