- Investing in dividend stocks always appeals to the investors as they could provide a steady income source.
- Genesis Energy to unveil its FY21 financial results on 26 August.
- Contact Energy to reward its shareholders by paying a dividend of 21 cps in September.
Dividend stocks are a great investment option for those investors who expect a regular income. Generally, even during economic downturns, these dividend stocks offer sound returns to their shareholders.
Moreover, dividends earned can be reinvested by the shareholders to make more money.
Let us now take a glance at the five NZX-listed stocks with a dividend of more than 5% worth following in the month of August.
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The telecom giant, Spark New Zealand Limited, on 23 August, had 7.27% as its dividend yield. The Company has recently announced to send director nominations w.r.t its Annual Meeting, which is scheduled for November 2021.
It must be noted that the nominations for directors must be sent latest by 7 September.
At the end of the trading session, on 24 August, Spark New Zealand gained 0.73% at NZ$4.840.
Genesis Energy Limited is the country’s famous electricity supplier. On 23 August, the Company had 6.80% as its dividend yield. It will reveal its FY21 results on 26 August.
Its CEO and CFO have planned to host a video conference for investors and analysts, following the announcement of the results.
On 24 August, Genesis Energy rose by 0.30% at NZ$0.345, at the end of the trading session.
Trustpower Limited (NZX:TPW)
Trustpower Limited is Aotearoa’s famous power company, which also offers broadband services across the country. The Company had a dividend yield of 5.72% on 23 August.
TPW has scheduled its Annual Shareholder Meeting for 22 September.
Due to the current COVID-19 situation prevailing across New Zealand, the Company is likely to hold a virtual meeting only, details of which would be provided later.
Shares of Trustpower dipped 0.85% at NZ$8.180, on 24 August, at the end of the trading session.
Scales Corporation Limited (NZX:SCL)
Operating in the agribusiness space, Scales Corporation Limited witnessed a dividend yield of 5.94% on 23 August. It will declare its half-year results ended 30 June 2021, on 25 August, followed by a conference call by the Company’s management.
On 24 August, Scales Corporation climbed 1.82% at NZ$4.470, at the end of the trading session.
Another electricity generator and digital retailer operating in the country is Contact Energy Limited, which had a dividend yield of 5.36% as of 23 August.
The Company has recently announced to reward its shareholders by paying a dividend of 21 cps on 15 September, with the record date being 27 August.
At the end of the trading session, Contact Energy gained 1.71% at NZ$8.340, on 24 August.
Dividend stocks give stability to one’s portfolio for they ensure predictable income and have growth potential.