From GNE to WBC: 3 NZX stocks with over 7% dividend yield

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From GNE to WBC: 3 NZX stocks with over 7% dividend yield

 From GNE to WBC: 3 NZX stocks with over 7% dividend yield
Image source: jittawit21,shutterstock.com

Highlights

  • Dividend stocks are known to give a stable income stream and inflation protection.
  • However, investors must remain careful that stocks can have high dividend yields due to a substantial drop in their stock prices.
  • Genesis, ANZ and WBC are 3 stocks with over 7% dividend yield.

With the US Fed increasing interest rates by 50 bps on Wednesday and other central banks expected to follow the same trajectory, dividend stocks can come as rescue options for investors as they provide a steady income stream.

Dividend stocks can help investors in battling high inflation, while providing them with good dividend yields. However, investors must remain careful that stocks can have high dividend yields due to a substantial drop in their stock prices and the same can affect their ability to deliver dividends in the future.

On this note, let’s look at 3 NZX stocks giving over a 7% dividend yield.

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Genesis Energy Limited (NZX:GNEASX:GNE)

Genesis has a market cap of $1.17 billion and a dividend yield of 8.1%. GNE ended the day 1.42% in the red to close at $2.78.

ALSO READ: NWF, VTL, JLG: 3 dividend paying penny stocks on investors’ watchlist

The Group reported that its net consumer churn fell below 13% while the Brand Net Promoter Score increased by 11 points on pcp in Q3 FY22. Kupe gas production and LPG production were down 21% and 13% on pcp, respectively, in the quarter.

Genesis made an interim dividend payment of 8.7cps on 1 April 2022.

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

One of the biggest banking groups, ANZ, has a market cap of $76.16 billion and a dividend yield of 7.5%. ANZ ended the day 2.69% in the red to close at $29.63.

DO READ: ANZ, WBC: Banking stocks in focus as ANZ half-yearly profits soar

ANZ will pay an interim dividend of 72cps on 1 July 2022 with an NZ attached imputation credit of 9 cps. The Group also notified that it would pay its interim dividend in 3 different currencies, which are the AUD, the GBP and the NZD.

ANZ reported an 18% rise in its statutory profit of $1.09 billion and a 6% rise in revenue on 4 May.

Heartland Group Holdings Limited (NZX:HGHASX:HGH)

Heartland Group Holdings has a market cap of $76.16 billion and a dividend yield of 7.6%. HGH ended the day 0.88% in the green to close at $2.3.

HGH paid an interim dividend of 5.5cps for the first half of 2022 on 16 March 2022.

Also Read: Top 15 NZX Stocks by dividend yield for 2022

Fitch Ratings affirmed the long-term rating of Heartland Group and Heartland Bank at BBB with the outlook revised to negative from stable ahead of its proposed acquisition of StockCo Holdings 2 Pty Ltd.

However, Fitch noted that the acquisition would not impact HGH’s risk profile but will improve profitability and increase exposure to wholesale funding.

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