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Highlights
- Genesis, Spark and Z Energy are stocks that have high dividend yields.
- GNE paid a dividend of 17.4cps for FY21.
- SPK paid a dividend of 25cps for FY21 and reaffirmed dividend guidance of 25cps for FY22.
Dividend yield is the money paid by a company to its shareholders for owning a share of its stock divided by the current stock price.
The yield typically rises when a stock’s price drops assuming that the dividend is not raised or lowered. The case gets reversed when a stock sees a rise in its price.
Let’s look at how these 5 high-yielding dividend stocks are doing.
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Genesis Energy Limited (NZX:GNE; ASX:GNE)
Leading electricity, natural gas and LPG provider in NZ, Genesis recently announced that it had extended its sustainable finance programme and the total green bonds on issue now stand at $325 million.
DO READ: 4 NZX-listed utilities stocks that are the talk of the town
The company aims to pay out a dividend between 70% and 90% of its free cash flow. GNE paid a dividend of 17.4cps for FY21.
GNE ended the day 2.62% in green to close at $2.74.
Spark New Zealand Limited (NZX:SPK; ASX:SPK)
Leading telecom service provider across Kiwiland Spark announced on Monday that it had finalised the purchase of a construction contractor for telecommunications and other utility sectors, Connect 8.
ALSO READ: Are these 5 NZX-listed tech stocks heading for major growth?
SPK paid a dividend of 25cps for FY21 and reaffirmed dividend guidance of 25cps for FY22.
SPK ended the day 1.15% in green to close at $4.38.
Z Energy Limited (NZX:ZEL)
Fuel supplier Z Energy reaffirmed an EBITDAF guidance between $270 million and $310 million for Q3FY22. The Group made progress across all 4 of its organic growth prospects.
ZEL paid an interim dividend of 7cps on 8 December 2021.
ZEL ended the day 1.13% in green to close at $3.59.
Trustpower Limited (NZX:TPW)
Internet, energy and phone-related services provider Trustpower retained its EBITDAF guidance of $210 million to $225 million and expects its capex to be between $34 million-$44 million for FY22.
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TPW paid an interim dividend of 17 cents on 3 December 2021.
TPW ended the day 0.14% in red to close at $7.03.
Heartland Group Holdings Limited (NZX:HGH; ASX:HGH)
Financial services provider Heartland notified this month that it would announce its interim results for the 6 months ended 31 December 2021 on 22 February 2022.
The Group paid a final dividend of 7cps on 15 September 2021 and an interim dividend of 4cps. Hence, HGH paid a total dividend of 11cps for the year.
HGH ended the day 2.54% in green to close at $2.42.
Bottom Line
Investors are looking forward to upcoming reporting season in February to find well-established dividend-paying firms.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)