5 ASX dividend stocks turning heads with above 7% annual yield

Usually, investors look at a company's dividend yield and take their investment decisions. However, a single-year dividend yield is not the only aspect investors should check. Many investors also prefer companies that have a history of consistent payouts. However, before taking the plunge into exploring dividend stocks, investors must understand companies’ financial footings. 

Amid the earning period, let us glance at these top five ASX-listed dividend stocks and evaluate the company performances.

Source: © Asterixvs l Megapixl.com

Cromwell Property Group

Cromwell Property Group (ASX:CMW) is a real estate investment manager company with operations across Australia, New Zealand, and Europe. Cromwell, which owns, invests, and manages commercial property, has recently appointed Patrick Lowe to head the Transactions division for Europe. Lowe started working with the company as a financial analyst 10 years ago. Since then, he has climbed many ladders of success. The team under Lowe will source and execute on and off-market single assets and portfolio deals. Cromwell's extensive European network will be utilised to expand and strengthen the operations.

Moreover, Lowe will also carry forward the previous responsibilities for all the transactions concerning Cromwell European REIT (CREDIT). During the FY20 financial results announcement, the company reported a 13.3% growth in the statutory profit to A$181.1 million. Although the company faced significant challenges, FY2020 distributions rose 3.4% to 7.50 cps. In FY21, Cromwell intends to maintain distributions at the current level of 7.50 cps. However, it is subjected to market conditions. As on February 18, its annual yield stands at 9.03%.

Cromwell Property Group (ASX:CMW) share price closed at AU$0.8200, down 1.205% as on February 18.

 Also Read: Cromwell Property Reports 13.3% Growth  In Statutory Profit In FY2020

IOOF Holdings Ltd

Australian financial services company IOOF Holdings Ltd (ASX:IFL) became profitable in the last five years. In December 2020, the company announced to terminate its ongoing agreement with BT. IOOF plans to transition to other platforms with the cost estimated to be between AU$30 and AU$70 million.

Source: Copyright © 2021 Kalkine Media Pty Ltd.

The company recently announced AU$400 million loss in assets under management. However, favourable market conditions added AU$12.7 billion in the second quarter for IOOF Holdings. The company noted that as it was trying to reconstruct its financial advisory business, it lost accounts worth AU$1.3 billion. As on February 18, its annual yield stands at 8.35%

IOOF Holdings Ltd (ASX:IFL) share price closed at AU$3.320, down 2.736%, as on February 18.

Read More: IOOF (ASX:IFL) and BT cease present relationship agreement

AGL Energy Limited

The leading Australian electricity and gas provider AGL Energy Limited (ASX:AGL) announced its financial results for the first half of the year ended 31 December 2020. The company saw a sharp decline in wholesale electricity prices. Also, the prices for large-scale renewable certificates lowered substantially in recent times. During the first half, the company made progress and became a multi-product retailer with a diversified product range. 

AGL also enabled the transition of Australia's energy supply during 1H FY21. The energy generator and retailer invested in flexible storage and generation capacity. Moreover, the company also expanded its decentralised energy activities. AGL reported statutory Loss after-tax at AU$2,287 million and underlying EBITDA of AU$926 million, lowered 13% in the first half of 2020.

Notably, its underlying profit after tax is also down 27%, reaching AU$317 million. On a positive note, AGL announced an ordinary interim dividend of 31 cents per share despite the challenges. Additionally, it will also distribute a special dividend of 10 cents. As on February 18, its annual yield stands at 8.88%.

AGL Energy Limited (ASX:AGL) share price closed at AU$10.150, down 2.028%, as on February 18.

Did You Read: AGL Energy (ASX:AGL) To Recognise Charges in H1; Here’s why

Source: © Gudella l Megapixl.com

Fortescue Metals Group Limited

Fortescue Metals Group Limited (ASX:FMG) is one of the leaders in the global iron ore industry. It has mining assets in Pilbara, Western Australia. On 18 February, FMG announced that its revenue for the six months has increased by 44% to US$ 9,335 million. Net profit after tax was recorded at US$4,084 million, up 66%, and remained aligned to the estimated range of US$4 billion to US$4.1 billion.

The company also declared a huge interim dividend of a fully franked AU$1.47 per share, up 93.4% from pcp, and representing a 80% payout ratio of net profit after tax.

As on February 18, its annual yield stands at 7.21%.

Fortescue Metals Group Limited (ASX:FMG) share price closed at AU$ 24.880, up 1.925%, as on February 18.

Also Read: FMG, BHP, and RIO in Red, What’s Capping Iron Ore Share Gains?

Source: Copyright © 2021 Kalkine Media Pty Ltd.

Aurizon Holdings Ltd

Aurizon Holdings Ltd (ASX:AZJ) is the largest rail freight operator in the country. The company provides integrated freight and logistics solutions to various entities. The company reported that its total revenue for 1HFY21 had decreased by 2%, reaching AU$1,49 billion. Its underlying earnings before interest and tax is AU$454 million.

A decreased coal volume because of the lowered demand resulted in the decline. The company faced significant COVID-19 impact, and critical trade relations with China impacted its financial results. As on February 18, its annual yield stands at 7.09%.

Aurizon Holdings Ltd (ASX:AZJ) share price closed flat at AU$3.960, as on February 18.

Good Read:Aurizon Holdings (ASX:AZJ) delivers decent half-year FY2021, ups dividend

 


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 non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Ad

GET A FREE STOCK REPORT


Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.


   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK