Top ASX Dividend Stocks Yielding Up To 7.0%

As the Australian market navigates fluctuating foreign direct investment flows and a dynamic global landscape, investors are keenly observing opportunities that offer stable returns amidst the volatility. In such an environment, dividend stocks stand out as attractive options for those seeking consistent income, particularly when yields can reach up to 7.0%.

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

Let’s uncover some gems from our specialized screener.

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

Overview: Bisalloy Steel Group Limited manufactures and sells quenched and tempered, high-tensile, and abrasion resistant steel plates in Australia, Indonesia, Thailand, and internationally with a market cap of A$257.02 million.

Operations: Bisalloy Steel Group Limited generates revenue through the production and distribution of high-performance steel plates designed for strength and durability across various international markets.

Dividend Yield: 7.0%

Bisalloy Steel Group recently announced a fully franked dividend of A$0.165 per share, reflecting its commitment to returning value to shareholders despite historical volatility in payments. While the company’s earnings grew by 24.4% last year, supporting a reasonable payout ratio of 59.9%, dividends are not well covered by free cash flows with a high cash payout ratio of 148.1%. The dividend yield remains attractive at 7.01%, outperforming the Australian market average of 5.5%.

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

Overview: Cedar Woods Properties Limited is an Australian company that develops and invests in properties, with a market cap of A$642.96 million.

Operations: Cedar Woods Properties Limited generates revenue primarily from its property development and investment segment, amounting to A$465.94 million.

Dividend Yield: 3.8%

Cedar Woods Properties offers a mixed outlook for dividend investors. While trading at 19.9% below its estimated fair value and maintaining a sustainable payout ratio of 49.7%, its dividend yield of 3.76% is modest compared to top Australian payers. Despite earnings growth, dividends have been volatile over the past decade, though recent increases show potential improvement. The company recently declared a fully franked dividend of A$0.19 per share and continues to pursue acquisitions for future growth, supported by a solid balance sheet.

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

Overview: Dicker Data Limited is a wholesale distributor of computer hardware, software, and related products for corporate and commercial markets in Australia and New Zealand, with a market cap of A$1.78 billion.

Operations: Dicker Data Limited generates revenue primarily through the wholesale distribution of computer peripherals, amounting to A$2.44 billion.

Dividend Yield: 4.5%

Dicker Data’s dividend prospects present a nuanced picture. Despite reliable and stable dividends over the past decade, its current yield of 4.46% is below top-tier Australian payers. The dividend is not well covered by earnings due to a high payout ratio of 96.2%, although cash flows do cover it with an 83.2% cash payout ratio. Recent earnings growth and forecasted revenue between A$3.7 billion to A$3.8 billion for FY25 highlight potential, but significant insider selling raises caution.

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.

Companies discussed in this article include ASX:BIS ASX:CWP and ASX:DDR.

This article was originally published by Simply Wall St.

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