Which are the hot 4 NZX Dividend stocks under NZ$10?

Highlights

  • Dividend stocks with a steady distribution can help overcome inflation and make one richer.
  • South Port New Zealand is about to make a dividend payment in November 2021.
  • The Warehouse Group expects NZ to be at alert level 2 by the end of this month and has declared its dividend amount.

As per the latest data from Stats NZ, NZ is hit by a high inflation period, which could be at peril of eating returns, which might make investors seek dividend-paying stocks.

Dividend stocks provide financial strength and progress to one’s invested capital.

Let’s take a look at a few affordable yet 4 key NZX stocks with dividend payout.

NZX-listed dividend stocks-TCL, SPN, SCT, WHS

   Image source: © 2021 Kalkine Media New Zealand Ltd, data source- Refinitiv

The City of London Investment Trust Plc (NZX:TCL)

With an end goal of offering long-duration increase in both capital and income, The City of London Investment Trust Plc is based in the United Kingdom.

On 22 September, the Company released its yearly financial results for the period closed June this year. The Company’s revenue earnings/share increased by 8.6% to stand at 17.09 pence. The Company grew its dividend amount by 0.5% to stand at 19.1 pence/ordinary share.

For the annual period ended 30 June, a third interim dividend of 4.80 pence was declared by the Board of the Company, to be paid by 30 November.

At the end of the trading session, on 22 October, The City of London Investment was up by 1.21% at a price of NZ$7.54.

Related read; City Of London Investment Trust Hoping For A Better 2021

South Port New Zealand Limited (NZX:SPN)

NZ’s southernmost commercial deepwater port, South Port New Zealand Limited, offers an array of marine and cargo-related services for domestic and offshore clients.

During its annual results for the duration closed June this year, the Company noted a NZ$10.71 million of NPAT, up by 13.6% on pcp. Operating revenue increased by 6%, standing at NZ$47.33 million.

The Board of the Company followed more than the predicted profit this year and took a decision to declare the final dividend of 19.5 cps to be paid by 9 November.

On 22 October, South Port New Zealand last traded flat at NZ$9.49.

Do read; What’s sailing South Port New Zealand’s stock price go North in 2021?

Scott Technology Limited (NZX:SCT)

Engineering company Scott Technology Limited is involved with manufacturing, sales, and the creation of processes for an array of sectors in NZ and abroad.

In FY21 results released by the Company on 21 October for the period ended August 2021, it noted revenue from continuing operations standing at NZ$216,234, increasing by 16%.

A dividend of 4 cps was announced, following good progress made by the Company, which is payable by 22 November.

On 22 October, Scott Technology last traded at NZ$3.13, up by 1.62%.

Do read; Why Did These 5 NZX Stocks Gain Or Lose Today?  - NTL, RAK, SCT, MWE, RYM

The Warehouse Group Limited (NZX:WHS)

NZ retail behemoth The Warehouse Group Limited is functional since 1982.

On 29 September, the Company declared FY21 annual results for the period ended 1 August 2021.  The Group sales stood at NZ$3.4 billion, increasing by 7.6% on pcp, while adjusted NPAT was up by NZ$32.1 million to stand at NZ$175.5 million.

The Board declared a final dividend of 17.5 cps, which was 100% imputed and is to be paid by 3 December. The final dividend was announced on the belief that NZ would be at alert level 2 by October end.

By the end of the trading session, on 22 October, The Warehouse Group was up by 0.25% at NZ$4.07.

Did you miss reading; Top 4 NZX Dividend Stocks To Keep An Eye On This Year- WHS, SCT, CDI, KMD

Bottom Line

A company which frequently pays a dividend amount to its stakeholders often reflects a steady balance sheet compared to the ones which don’t do the same.

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