Which are the top 7 ASX shares with growing dividends?

Summary 

  • Dividends are the payments made by listed/public companies to reward the investors for investing their money into their business.
  • Fortescue Metals reported a significant hike in its dividend amount, paying an impressive AU$1.47 per share.
  • Metal and mining companies, too, reported paying a high distribution amount.
  • Stockland, Aurizon Holdings, and Rio Tinto are some of the companies whose dividend payments have increased over the last few periods.

Dividends are payments made by listed/public companies to reward to the investors for investing their money into their respective businesses.

Dividends play an important role as they provide a regular income flow of income to the investors. Generally, well-established firms can pay out regular dividends, even in adversity, such as the COVID-19 pandemic. However, during these times, several companies cut their dividends to meet up their capital requirement.

Source: Copyright © 2021 Kalkine Media

With the market continuing to remain volatile, we have examined the top seven ASX-listed shares that have distributed increasing dividends over the past few cycles.

Fortescue Metals Group (ASX:FMG)

Fortescue Metals Group’s core business deals with developing, producing, processing, and selling iron ore in Australia. Packed with high iron ore prices, FMG’s share price and operational performance drastically improved in 2020.

The Company paid dividends worth AU$1.76 per share in CY2020. In March 2021, FMG announced a dividend payout of AU$1.47 per share, significantly higher than AU$1.00 per share distributed in October 2020.

FMG has a market capitalisation of AU$79.37 million and its shares closed at AU$25.420, down 1.397%.

DO READ: Ten blue chip shares with fully franked dividends on ASX

Stockland (ASX:SGP)

Founded in 1952, Stockland has become one of the largest Australian property groups. Stockland’s core business deals with diversified property groups. It develops and manages a large portfolio of residential communities, shopping centres and logistic assets, etc.,

Despite the market fluctuations caused by the global pandemic, Stockland also managed to pay off its dividend, with a slight increase compared to the previous year.

For FY2020, SGP paid a dividend of AU$0.241 per share. For FY2021, the total dividend stands at AU$0.246 per share, with the final dividend to be paid on 31 August.

SGP has a market cap of AU$10.47 billion and its shares closed 0.684% lower at AU$4.360.

Aurizon Holdings Ltd. (ASX:AZJ)

Formerly known as QR National Limited, Aurizon Holdings Limited was incorporated in 2010. Aurizon Holdings Ltd. Operates as a rail freight operator in Australia. The Company operates through various segments like Network, Coal, and Bulk.

Aurizon’s revenue was up 5%, while its EBIT grew 10% in FY2020. Subsequently, the firm reported a final dividend of 13.7 cents per share, taking the full-year dividend to 27.4 per share. In April 2021, AZJ paid a dividend of 14.4 cents per share.

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Aurizon has a market cap of AU$7.25 billion, and its shares closed 2.031% lower at AU$3.860.

Harvey Norman Holdings Limited (ASX:HVN)

Harvey Norman Holdings Limited deals with franchise, property, retail, as well as digital system businesses. It is Australia’s no. 2 electronic retailer that debuted in 1982.

With a market cap of AU$6.75 billion, HVN’s dividend yield stands at 7.01%. The Company paid a special dividend in FY2020 because of heavy sales incurred in the last fiscal year. Thus, the Company is currently generating a good dividend growth.

HVN shares closed 0.923% lower at AU$5.370. The Company has a market cap of AU$6.75 billion.

INTERESTING READ: Top 20 dividend stocks on the ASX with yield over 4%

Rio Tinto Ltd. (ASX:RIO)

Founded in 1873, Rio Tinto Ltd. is a mining company dealing with exploring, mining, and processing mineral resources globally.

The company reported an annual dividend yield of 5.61%. The company generated around US$23.9 billion in EBITDA earnings in FY2020. RIO has paid ~US$9 billion dividend amount to its investors.

Rio has a market cap of AU$48.48 billion. RIO shares last traded at AU$127.830, down 2.121%.

Source: Copyright © 2021 Kalkine Media

APA Group (ASX:APA)  

Texas-based APA Group owns and operates natural gas transportation and the energy infrastructure in Australia. APA group was founded in 1954 and operates in the US, Egypt, and the UK. It also holds its ownership in four Permian-to-Gulf Coast Pipelines.

The Company paid an interim dividend of AU$0.24 per share in March and will pay a final dividend of AU$0.27 in September. The Company’s annual yield stands at 5.31%.

APA Group has a market cap of AU$11.31 billion and its shares closed 1.042% higher at AU$9.690.

DEXUS (ASX:DXS)

Dexus manages a high-quality Australian property portfolio.

Dexus paid an interim dividend of 28.8 cents in February 2021 and will pay a final dividend of 23 cents per share, taking the total to 51.8 cents per share for FY21.

Dexus shares closed at AU$10.240 on 19 July. The company has a market cap of AU$11.05 billion.

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