Looking for healthcare dividend stocks? Here are the top five players

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Looking for healthcare dividend stocks? Here are the top five players

 Looking for healthcare dividend stocks? Here are the top five players
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Summary

  • Market participants prefer investments that can provide steady and stable returns consistently. Dividend stocks exactly do that and are among investors’ favourites, especially during times of uncertainty.
  • The healthcare sector has been among the few sectors that have withstood the impact of the COVID-19 pandemic.
  • Some of the leading ASX-listed dividend-paying stocks in the healthcare space include CSL Limited, Sonic Healthcare, Fisher & Paykel, Ramsay Health Care and Pro Medicus.

During volatile times, investors seek dividend-paying stocks to ensure a regular income stream when everything else seems uncertain. Dividend stocks are companies that pay out dividends to their shareholders and are appealing to those who prefer consistent income from their investments. They also offer downside protection and thus, stocks offering high dividend yields are the most sought-after stocks.

INTERESTING READ: Is dividend income taxable in Australia?

Besides, some market participants see regular dividends as an indicator of the strength of the Company. Thus, introducing a dividend or raising a dividend is a positive indication, whereas slashing or omitting a dividend usually sends a negative message to investors.

ALSO READ: Five blue-chip stocks that pay high dividends

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The healthcare sector has been an area of strength in the market during the COVID-19 pandemic and is one of the most visible sectors on the ASX. The sector is also a great place to look for high-quality dividend growth stocks.

The Australian healthcare industry is one of the biggest and most comprehensive sectors. The industry comprises a broad range of companies, including pharmaceuticals, biotechnology, medical device, medical insurance, medical service providers and aged care providers.

MUST READ: How to look for the best healthcare stocks?

Moreover, with the increasing aging population and growing population, the healthcare industry is anticipated to witness strong demand for various products and services. Furthermore, experts believe that the sector would see even greater demand due to the spreading COVID-19.

With this backdrop, let us discuss the top five high dividend stocks from the healthcare industry-

Copyright © 2021 Kalkine Media

CSL Limited (ASX:CSL)

ASX 200-listed biotech behemoth CSL Limited is engaged in the development of innovative biotherapies as well as influenza vaccines. CSL’s influenza vaccine company- Seqirus - is one of the leading influenza vaccine companies worldwide. CSL is manufacturing AstraZeneca Plc’s (LON:AZN) COVID-19 vaccine in Australia.

Recently, CSL stock climbed over AU$300 on the ASX for the first time in 2021, following the announcement that Seqirus had co-authored the first study on administering a COVID-19 vaccine of Novavax (NASDAQ:NVAX) with its seasonal influenza shot.

DO READ: Most expensive stock on the ASX: CSL Limited shares shoot past AU$300

CSL Limited has consistently paid a dividend to its shareholders since 2015. In the first half of FY21, the Company paid an interim dividend of AU$1.349 on 1 April 2021. The Company has a dividend yield of 0.92% as of 21 June 2021.

Sonic Healthcare Limited (ASX:SHL)

Sonic Healthcare is a leading provider of medical diagnostics and offers laboratory services, pathology, and radiology services. The Company provides its services across Australasia, Europe, and North America.

Similar to CSL, Sonic Healthcare is also a consistent dividend payer since 2015. Sonic Healthcare last paid AU$0.36 dividend on 24 March 2021 for H1 FY21. On 21 June 2021, the Company’s annual dividend yield stood at 2.30%.

Fisher & Paykel Healthcare Corporation Limited (ASX:FPH)

The AU$16.52 billion Company is a manufacturer, developer and marketer of products that are used in acute care, respiratory care, and obstructive sleep apnea (OSA) treatment.

The Company will pay its final dividend amount AU$0.207 for the period ending 31 March 2021 on 7 July 2021. FPH has seen consistent growth in dividend amount since July 2019, starting from AU$0.129 to AU$0.207 to be paid next month. On 21 June 2021, the dividend yield of the Fisher & Paykel stood at 1.24%.

Ramsay Health Care Limited (ASX:RHC)

Ramsay Health Care was established in 1964 and has grown to become a global hospital providing quality health care through a global clinical practise network, teaching and research. A consistent payor, RHC hit a high of AU$0.915 in dividend in September 2019 quarter. The Company last paid AU$0.485 cash dividend on 31 March 2021 for the first half of FY21. On 21 June 2021, the Company’s annual dividend yield stood at 1.73%.

Copyright © 2021 Kalkine Media

Pro Medicus Limited (ASX:PME)

A leading healthcare informatics company Pro Medicus Limited was founded in 1983. The Company offers a complete range of medical imaging software and services to hospitals, imaging centres as well as healthcare groups globally.

Pro Medicus has been a consistent dividend player since 2016. In the first half of FY21, the Company paid an interim dividend of AU$0.070 on 19 March 2021. The Company has an annual dividend yield of 0.23% as of 21 June 2021.

During volatile times, investors seek dividend-paying stocks to ensure a regular income stream when everything else seems uncertain. Dividend stocks are companies that pay out dividends to their shareholders and are appealing to those who prefer consistent income from their investments. They also offer downside protection and thus, stocks offering high dividend yields are the most sought-after stocks.

INTERESTING READ: Is dividend income taxable in Australia?

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