Dividends are a method of rewarding shareholders that firms use to keep them motivated. Dividends are a reliable source of income for risk-averse investors.
Investors are always in search for dividend stocks as investment in these stocks can help them in delivering reliable and consistent income.
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Let’s have a look at the performance of these 5 NZX dividend stocks with at least 4% yield.
Chorus Limited (NZX:CNU)
Chorus recently advised on the price quality draft for fibre for the first regulatory period. The Group will be able to earn an annual revenue range of NZ$689 million to NZ$786 million in 2022-2024, which is in line with the predicted demand, as per the Commerce Commission’s new guidelines for the telecom sector.
Chorus paid an interim dividend of 10.5cps on April 13, 2021.
On 1 June, at the time of writing, CNU was trading at $6.33, up 0.64%.
Z Energy recently announced its agreement to the terms of The New Zealand Refining Company (NZX: NZR) to change the refinery to an Import Terminal System.
ZEL issued a 14cps final dividend, which will be paid on June 2, 2021. For FY22, RC EBITDAF earnings are estimated to range from $270 million to $310 million, with dividends ranging from 19 cents to 23 cps.
On 1 June, at the time of writing, ZEL was trading flat at $2.59.
ANZ made a cash profit of $962 million in the six months ended March 31, 2021, up 42% on pcp. It revealed a thriving home lending market as well as a considerable decrease in credit impairment costs.
Due to strong cash management, profitability, and improved conditions, the Group is well positioned to assist New Zealand's economic recovery.
ANZ will pay an interim dividend of A$0.7ps on 1 July 2021.
On 1 June, at the time of writing, CNU was trading at $30.5, down 0.23%.
Trustpower Limited (NZX:TPW)
With a 7% rise in EBITDA in FY21, Trustpower outperformed in both retail and generation.
In FY22, Trustpower anticipates group EBITDA of $200 to $225 million and group capex of $43–$59 million.
On 18 June 2021, a dividend of 35.5cps will be paid for FY21.
On 1 June, at the time of writing, TPW was trading at $8.58, up 0.82%.
Scales Corporation Limited (NZX:SCL)
Scales Corporation had a profitable year in 2020, with revenues of $470.7 million and profit of $26.6 million. The Group's multi-agribusiness strategy produced positive results.
Total cash dividends for FY20 have been set at 19cps, which include the 9.5cps interim dividend paid in January. On July 9, 2021, the group plans to pay dividend to its shareholders.
On 1 June, at the time of writing, SCL was trading flat at $4.62.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)