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- Dividend stocks include the stocks of the companies which pay a share of their income to their shareholders.
- Fenix Resources, Vita Group and Cardno are among the top ASX stocks forking out high dividend yields.
The Australian Securities Exchange (ASX) presents a huge pool of stocks belonging to different sectors. While every stock has its own pros and cons, there are certain stocks, such as dividend stocks, which get a greater amount of attention from investors for being a source of additional income.
There are many ASX-listed firms which share a part of their revenue among their shareholders as dividend. In this article, we have screened out three such ASX stocks with high dividend yields. Have a look!
Fenix Resources Ltd (ASX:FEX)
Fenix Resources is one of the high-grade, high-margin iron ore miners of Australia having distinct infrastructure advantage to drive growth. The company boasts strong ESG (Environmental, Social, and Governance) credentials as its iron ore has no palpable impurities. Also, the company’s Iron Ridge infrastructure (including weighbridge, telecommunications towers, and water transfers pumps) is solar-powered.
Recently, the company boosted its interest in Fenix-Newhaul Pty Ltd to 100%, after the acquisition of the remaining 50% stake. FEX sold six shipments of about 344,000 wmt of iron ore from the Iron Ridge Project in Western Australia in the June 2022 quarter. Its net operating cash flow was recorded at AU$15 million. It held AU$101.9 million in cash at the end of the quarter.
Vita Group Limited (ASX:VTG)
ASX-listed company Vita Group is involved in the production and marketing of flexible polyurethane foam, Talalay latex as well as flooring items. The company has operations at 40 sites across 14 countries.
The group generated a revenue of AU$12.6 million from continuing operations and incurred a loss of AU$1.7 million for the first half of the fiscal year 2022 (H1FY22) ended 31 December 2021. Also, in H1FY22, Vita hit a key milestone by finalising the divestment of its ICT business to Telstra Corporation Ltd.
Cardno Limited (ASX:CDD)
Cardno has emerged as one of the most prominent players in providing international development services to the United States Agency of International Development, the Department of Foreign Affairs and Trade, and other development aid agencies. The company’s engineering and environmental services teams from North America and the Asia Pacific have now merged with Stantec.
As per its half-yearly report, the ASX-listed firm earned an underlying profit from continuing operations after income tax of AU$0.3 million for H1FY22. It recorded a gross revenue of AU$138.7 million during the period.
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