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Highlights
- Regular dividend payouts are the best hallmark for top retirement stocks.
- Kathmandu Holdings to pay a final dividend worth 3.0 cps in mid-December.
- Meridian Energy to pay a handsome dividend of 11.20 cps next week.
People nearing retirement age mostly are averse to risky and unpredictable investments. On the other hand, such investors usually seek to invest in a portfolio of high-quality, growth-oriented companies which offer predictable and growing dividend income.
That said, let us now take a peek into the five NZX dividend-paying stocks worth looking for by retirement planners.
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Kathmandu Holdings Limited (NZX:KMD)
Kathmandu Holdings Limited is NZ’s famous retail chain selling outdoor apparel and equipment. The Company has declared a final FY21 dividend of 3.0 cps payable on 15 December.
Underpinned by the solid sales performance of both its brands, Rip Curl and Oboz, KMD recorded a statutory NPAT of NZ$63.4 million and its sales clocked NZ$922.8 million for the 12-month duration ended 31 July 2021.
NZX-listed Dividend Stocks for Retirement Income
At the time of writing on 8 October, Kathmandu Holdings gained 0.63% at NZ$1.590.
Related Read: A lens on 5 NZX retailers amid the prevailing lockdown
Michael Hill International Limited (NZX:MHJ)
Known for making fine jewellery, Michael Hill International Limited paid a final dividend of AU3.0 cps on 24 September, thus taking the total dividend for FY21 to AU4.5 cps.
Must Read: How are these 5 NZX retail stocks faring in 2021?
The Company disclosed an impressive performance for FY21, wherein its statutory NPAT and EBIT were recorded at $45.3 million and $72.4 million, respectively, bolstered by its sound strategy execution and strong same-store sales growth.
Michael Hill International fell by 1.08% at NZ$0.920, at the time of writing, on 8 October.
Vital Limited (NZX:VTL)
Another regular dividend payer is Vital Limited. The Company will distribute a dividend of 2.0 cps on 15 October.
Cashing in on exceptional countrywide presence, VTL’s PAT grew by 14.5% and clocked NZ$0.841 million for the year ended 30 June 2021.
Can’t Miss Reading: Which are 5 NZX penny stocks from the technology space?
Shares of Vital was trading flat at NZ$0.690, at the time of writing, on 8 October.
Meridian Energy Limited (NZX:MEL)
The country’s electricity giant, Meridian Energy Limited, will reward its shareholders by paying an impressive dividend of 11.20 cps on 15 October.
The Company delivered sound FY21 results, bolstered by strong retail sales growth. Its EBITDAF stood at NZ$729 million and NPAT clocked NZ$428 million during the said period.
At the time of writing, on 8 October, Meridian Energy dropped 0.51% at NZ$4.875.
Also Read: Is Meridian Energy(NZX:MEL) on a growth path post FY21?
Skellerup Holdings Limited (NZX:SKL)
Skellerup Holdings Limited is the country’s leading producer of agricultural and industrial rubber products. On 15 October, SKL would pay a dividend of 10.5 cps to its shareholders.
The Company witnessed a growth of 11% in its revenue, which amounted to NZ$279.5 million and its EBIT stood at NZ$56.4 million, up by 33% for the year ended 30 June 2021, majorly on account of effective operating business model and sound strategy.
Related Read: Would Skellerup’s (NZX:SKL) latest acquisition boost its earnings?
At the time of writing, Skellerup Holdings was up by 0.99% at NZ$6.150, on 8 October.
Bottom Line
Investors planning their retirement must carefully choose their investment portfolios and consider selecting stocks that have potential of a steady flow of dividend income.