PFI, WBC, KMD: 3 dividend stocks to watch out for in coming weeks

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PFI, WBC, KMD: 3 dividend stocks to watch out for in coming weeks

Dividend stocks
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Highlights

  • Dividend stocks tend to be a lucrative form of passive income
  • Westpac Banking to pay 61.0 cps as an interim dividend
  • KMD Brands will distribute 3.0 cps towards June-end

Despite market turbulence, dividend-paying stocks tend to perform relatively well as compared to their other counterparts. Hence, investors, both new as well as seasoned ones, are allured to invest in these stocks.

Moreover, apart from ensuring a steady income flow, dividend stocks do have potential for value appreciation, i.e., they offer a hedge against inflation over a period of time.

In the light of the given background, let us look at the three NZX-listed dividend stocks- Property for Industry Limited (NZX:PFI), Westpac Banking Corporation (NZX:WBC) and KMD Brands Limited (NZX:KMD) that are set to reward their shareholders with payouts in the coming few weeks.

NZ dividend stocks- PFI, WBC, KMD

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Property for Industry Limited (NZX:PFI)

One of the leading real estate NZ companies specialising in industrial property is Property for Industry Limited. It will pay a Q1 dividend of 1.80 cps on 24 May, having imputation credits of 0.5450 cps.

Must Read: From KPG to PFI: 5 NZX dividend-paying REITs to watch out for

PFI had announced record FY21 results, wherein its PAT clocked NZ$452.8 million and boasted a strong balance sheet, underpinned by fair value gains on properties, and the Company plans to declare FY22 dividends between 8.05 and 8.10 cps, up 2.5% on FY21 dividend.

On 16 May, at the time of writing, PFI was down 0.21% at NZ$2.365.

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

Westpac Banking Corporation, NZ’s famous banking and financial services provider, will distribute a 1H22 dividend of 61.0 cps. The said payment will be made on 24 June. However, those shareholders who want the dividend payment in the NZD will receive the same on 27 June.

Do Read: From WBC, FPH to AIA: Know about NZ’s largest companies by market cap

It is noted that the Company recorded a net profit worth NZ$3,280 million in 1H22 and cash earning of NZ$3,095 million, up 63% and 71%, respectively, on pcp, bolstered by an improvement in efficiency and credit quality.

On 16 May, at the time of writing, WBC was jumping 2.09% at NZ$26.890.

KMD Brands Limited (NZX:KMD; ASX:KMD)

KMD Brands Limited is a well-known global outdoor, lifestyle and sports company which has announced a 1H FY22 dividend of 3.0 cps to be paid on 30 June.

Also Read: KMD, MHJ- 2 retail stocks to watch amid surge in credit card spending

Bolstered by solid Rip Curl sales in Q2, along with strong online sales growth, KMD witnessed sales worth NZ$407.3 million, and its EBITDA clocked NZ$56.1 million during the half-year period ended 31 January 2022.

On 16 May, at the time of writing, KMD was soaring 3.39% at NZ$1.220.

Bottom Line

Dividend stocks provide an opportunity for their investors to get paid even during rocky market conditions and are comparatively less volatile than others.

Despite market turbulence, dividend-paying stocks tend to perform relatively well as compared to their other counterparts. Hence, investors, both new as well as seasoned ones, are allured to invest in these stocks.

Moreover, apart from ensuring a steady income flow, dividend stocks do have potential for value appreciation, i.e., they offer a hedge against inflation over a period of time.

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