Which are 5 NZX stocks with high dividend yields?

Highlights

• Investors are drawn to high dividend-paying stocks.
• Genesis Energy announced that its inlet compression project had returned Kupe to full production.
• Trustpower released a quarterly operating report for Q2 FY22. 

Dividend stocks might be an excellent choice for investors seeking a steady stream of income. Companies that pay regular dividends and have high dividend yields are often attractive to investors.

Amid this backdrop, let’s have a look at the performance of these 5 NZX stocks.

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Spark New Zealand Limited (NZX:SPK)

Spark New Zealand, an Auckland-based telecom firm, delivered 1% EBITDA growth in H2 FY21 due to buoyant revenues and disciplined cost reduction.

DO READ: Who are 5 popular NZX communications stocks to watch right now?

Spark announced a dividend of 12.5cps for H2 FY21, taking the total dividend to 25cps. The Company also recently notified that it would conduct its AGM on 5 November.

NZX stocks with high dividend yields

SPK ended the day 1.5% in red to close at $4.59.

Genesis Energy Limited (NZX:GNE)

Genesis Energy, NZ’s electricity generator, announced that the inlet compression project carried out by GNE, and its Kupe Joint Venture Partners have returned Kupe to deliver its maximum daily quantity of 77 TJs per day, in line with the development plant and the forecasts made.

The increased production is equivalent to supplying nearly 15% of NZ’s natural gas demand.

SKL ended the day 0.6% in red to close at $3.325.

Heartland Group Holdings Limited (NZX:HGH)

Fitch confirmed Heartland Group and Heartland Bank's long-term issuer default ratings of BBB and BBB-, respectively, on 8 October. The outlook was announced stable.

RELATED READ: How are 5 NZX financial stocks faring amid economic recovery?  

Some of the factors behind Heartland's positive rating included its favourable profitability position, steady asset quality, solid capital position, and effective risk management.

HGH paid a final dividend of 7cps on 15 September 2021, taking the total dividend for FY21 to 11cps.

HGH ended the day flat to close at $2.33.

Trustpower Limited (NZX:TPW)

Trustpower released quarterly report for the second quarter of FY22.

National storage improved dramatically throughout the quarter, reaching 138 % of average, up from 85% at the beginning of the quarter. Hydro generating volumes also rose by 9% on pcp, due to a return to more normal levels of inflows.

ALSO READ: Trustpower (NZX:TPW) How did it perform in the second quarter?

The Group paid a final dividend of 18.5cps, taking the total dividend to 35.5cps for the full year. It intends to pay a special dividend of up to 65cps in early FY23.

TPW ended the day 0.54% in red to close at $7.4.

Kiwi Property Group Limited (NZX:KPG)

On 1 October, Kiwi Property announced the purchase of 385 Mt Wellington Highway at $27.5 million. The 7144 square metres property will be procured with vacant possession and is located adjacent to Sylvia Park Lifestyle in Auckland.

The agreement is anticipated to be finalised on 24 June 2022. KPG paid a final cash dividend of 2.95cps for the 6 months ended 31 March 2021. The Group expects next year’s dividend to be not less than 5.3cps contingent on COVID-19 lockdowns and performance of the company.

KPG ended the day flat to close at $1.15.

Bottom Line

Investors are always in search for dividend-paying companies because they have the ability to provide a consistent stream of income to their owners.

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