The market has been flat over the last week but has risen 10% in the past 12 months, with earnings forecasted to grow by 12% annually. In this environment, identifying dividend stocks that offer solid yields and stability can be a prudent strategy for investors seeking reliable income.

Top 10 Dividend Stocks In Australia

Name Dividend Yield Dividend Rating Perenti (ASX:PRN) 7.80% ★★★★★☆ Collins Foods (ASX:CKF) 3.59% ★★★★★☆ Nick Scali (ASX:NCK) 4.27% ★★★★★☆ Fiducian Group (ASX:FID) 4.91% ★★★★★☆ MFF Capital Investments (ASX:MFF) 3.58% ★★★★★☆ Super Retail Group (ASX:SUL) 6.58% ★★★★★☆ National Storage REIT (ASX:NSR) 4.51% ★★★★★☆ Premier Investments (ASX:PMV) 3.81% ★★★★★☆ New Hope (ASX:NHC) 9.73% ★★★★☆☆ Ricegrowers (ASX:SGLLV) 6.63% ★★★★☆☆

Click here to see the full list of 33 stocks from our Top ASX Dividend Stocks screener.

We're going to check out a few of the best picks from our screener tool.

Bendigo and Adelaide Bank

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

Overview: Bendigo and Adelaide Bank Limited provides banking and financial services to retail customers and small to medium-sized businesses in Australia, with a market cap of A$6.81 billion.

Operations: Bendigo and Adelaide Bank Limited's revenue segments include Consumer banking (A$1.12 billion), Corporate banking (A$67.50 million), and Business & Agribusiness services (A$761.10 million).

Dividend Yield: 5.2%

Bendigo and Adelaide Bank's dividend yield (5.24%) lags behind the top 25% of Australian dividend payers but remains covered by earnings with a payout ratio of 65.4%. The bank's dividends have been volatile over the past decade, though recent increases are notable, with a full-year dividend of A$0.63 per share for fiscal year 2024. Earnings grew by 9.7% last year, and net income rose to A$545 million from A$497 million in the previous year.

Take a closer look at Bendigo and Adelaide Bank's potential here in our dividend report. Our comprehensive valuation report raises the possibility that Bendigo and Adelaide Bank is priced lower than what may be justified by its financials. ASX:BEN Dividend History as at Sep 2024

Collins Foods

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

Overview: Collins Foods Limited operates, manages, and administers restaurants in Australia and Europe with a market cap of A$917.78 million.

Operations: Collins Foods Limited generates revenue from its Taco Bell restaurants (A$54.38 million), KFC restaurants in Europe (A$313.47 million), and KFC restaurants in Australia (A$1.12 billion).

Dividend Yield: 3.6%

Collins Foods offers a stable dividend yield of 3.59%, covered by earnings with a payout ratio of 59.1% and cash flows with a cash payout ratio of 35.2%. The company's dividends have been reliable and growing over the past decade, though recent insider selling may warrant caution. Collins Foods reported strong financial performance for the full year ending April 2024, with net income rising to A$76.72 million from A$12.75 million the previous year, supporting its dividend sustainability.



Click to explore a detailed breakdown of our findings in Collins Foods' dividend report. Our valuation report unveils the possibility Collins Foods' shares may be trading at a discount. ASX:CKF Dividend History as at Sep 2024

Super Retail Group

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

Overview: Super Retail Group Limited operates retail stores selling auto, sports, and outdoor leisure products in Australia and New Zealand with a market cap of A$4.09 billion.

Operations: Super Retail Group Limited's revenue segments include Rebel at A$1.29 billion, Macpac at A$214 million, Super Cheap Auto (SCA) at A$1.50 billion, and Boating, Camping and Fishing (BCF) at A$879.10 million.

Dividend Yield: 6.6%

Super Retail Group's dividend payments have been volatile over the past decade, though they are covered by earnings (64.9% payout ratio) and cash flows (53.7% cash payout ratio). The company reported full-year sales of A$3.88 billion and net income of A$240.1 million, down from the previous year. Despite a recent decrease in ordinary dividends to A$0.37 per share, a special dividend of A$0.50 was announced for October 2024 payment, reflecting mixed signals for dividend investors.

Click here and access our complete dividend analysis report to understand the dynamics of Super Retail Group. Our expertly prepared valuation report Super Retail Group implies its share price may be lower than expected. ASX:SUL Dividend History as at Sep 2024

Summing It All Up

Explore the 33 names from our Top ASX Dividend Stocks screener here. Shareholder in one or more of these companies? Ensure you're never caught off-guard by adding your portfolio in Simply Wall St for timely alerts on significant stock developments. Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide.

Contemplating Other Strategies?

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.

Companies discussed in this article include ASX:BEN ASX:CKF and ASX:SUL.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]