From VTG to SHM: ASX penny stocks with lucrative dividend yield

Image Source: © Anyaberkut | Megapixl.com

Highlights

  • Dividend investing is a good option for those who want a regular income stream from their stock investment
  • Recently, Fenix Resources completed the acquisition of 100% ownership in the mid-west Haulage business
  • Base Resources achieved a record sales revenue of US$91.3 million in the June quarter

Dividend investing refers to investing in stocks that pay dividends. It is a good option if you want a steady revenue flow from your investments. This revenue is adjunct to any increment in your portfolio as its shares value gain appreciation.

This article will discuss four ASX-listed penny stocks having an annual dividend yield greater than 10%.

Vita Group Ltd (ASX: VTG)

Vita Group Limited, an Australia-based small-cap company, has a market capitalisation of AU$34.29 million. It specialises in value-added and differentiated flexible polyurethane (PU) foam products. It also produces and sells flooring products and Talalay latex.

In the half year ended 31 December 2021, the company witnessed a downfall of 16% in its revenue from continuing operations.

Vita Group’s annual dividend yield is 12.30%, and its shares last traded on ASX at AU$0.195 (on 29 July 2022).

Fenix Resources Ltd (ASX:FEX)

Fenix Resources has a market capitalisation of AU$152.93 million. The mining company is providing an annual dividend yield of 18.75%.

Recently, the company acquired 100% ownership in the mid-west haulage business. In June, Fenix signed definitive agreements to acquire Newhaul’s 50% interest in the haulage joint venture, Fenix-Newhaul. The agreement aligned Fenix as a wholly unified logistics, haulage, and mining firm.

Shares of Fenix closed on Friday at AU$0.280.

Base Resources Ltd (ASX: BSE)


Image source:© Kianlin | Megapixl.com

Base Resources is a mineral sands company based in Australia with its operations in Kenya and Madagascar. The company is providing a lucrative dividend yield of 23.33%.

Base Resources achieved a record sales revenue of US$91.3 million in the quarter ended 30 June 2022. This led to a 3.5:1 ratio of revenue to cost of sales. Further, the company’s investment in Bumamani Project received approval which expanded its Kwale Operations mine life to December 2024.

BSE has a market capitalisation of AU$353.40 million and its closing price on Friday was AU$0.30.

Shriro Holdings Ltd (ASX:SHM)

Shriro Holdings has its operations in Australia and New Zealand. The company specialising in kitchen applications and consumer products provides an annual dividend yield of 15.58%.

Shriro made an announcement in May stating its expectations for FY22. Let us have a look.

Shriro has a market capitalisation of AU$73.62million. and its last trading price as of Friday was AU$0.770 .

 


 


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and