Are there any high yielding dividend stocks on NZX?

Highlights

• Dividend stocks are well-established companies that pay regular dividends to shareholders.
• These stocks are considered to be less volatile.
• Genesis, Westpac and Spark are stocks with high dividend yield. 

Dividend stocks are stocks of well-established firms that offer steady dividend payments to its stockholders. These stocks are considered to be less volatile and possess the ability to outperform other stocks that do not pay dividends.

As the new year begins, there is no certainty on what direction the market will go this year.

Let’s have a look at 4 NZX stocks with high dividend yields.

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Genesis Energy Limited (NZX:GNE; ASX:GNE)

A leading electricity, natural gas and LPG provider in NZ, Genesis informed that the total customer demand was down by 6% in its retail business because of the pandemic induced lockdown and hotter winter conditions.

RELATED READ: 5 fastest-growing NZX stocks to look at this year

GNE paid 17.4cps as its FY21 dividend and expects EBITDAF between $420 million - $440 million in FY22.

GNE ended the day 0.7% in green to close at $2.88.

Westpac Banking Corporation (NZX:WBC; ASX:WBC)

Westpac set up a Wholesale Capital Notes Programme on 20 December 2021 for the issue of Additional Tier 1 Capital Notes. The bank also finished the release of 5,496,799 Westpac Capital Notes 4 (WCN 4) that stayed on issue.

It also completed the sale of its wholesale dealer loan book, worth nearly $1 billion to Angle Auto Finance. WBC raised its dividend payment to 118cps for the full year.

WBC ended the day 2.19% in green to close at $23.35.

Spark New Zealand Limited (NZX:SPK; ASX:SPK)

The leading telecom service provider across Kiwiland is Spark New Zealand Limited. Spark struck a deal with Electra Group to buy back its 50% interest in Connect 8. The transaction is anticipated to be completed this year.

ALSO READ: Which top 3 NZX stocks are trading under NZ$1?

The Group announced a total FY21 dividend of 25cps. Spark accelerated the 5G rollout and datacentre capacity expansion across NZ.

SPK ended the day 0.55% in red to close at $4.495.

Australia and New Zealand Banking Group Limited (NZX:ANZ; ASX:ANZ)

Australian Retail & Commercial ANZ's major division increased pre-provision and after-tax profit in FY21, leading to a high-margin performance.

DO READ: How did 2 NZ banks fare in 2021?

Despite a decline in the overall number of house loans on its books, the bank's home loan revenue climbed over 10% in the second half. In New Zealand, ANZ saw the best performance.

ANZ paid a total dividend of 142 cents for the full year, up from 60 cents in the previous year.

ANZ ended the day 1.22% in green to close at $29.84.

Bottom Line

Investors look for dividend stocks to shield themselves and get steady income amid an uncertain environment.

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)