- Dividends provide investors with a regular income source.
- Investore will pay a cash dividend of 7.9cps for FY22.
- Trustpower plans to pay an interim dividend of 17cps on 3 December 2021
Dividend stocks provide investors with an option to multiply their wealth. Investors can increase their wealth in 2 ways that is they can keep receiving dividend pays every month, quarter or year, or they can reinvest dividends through DRPs.
Let’s have a look at how these 5 NZX dividend stocks are faring.
Image source: © 2021 Kalkine Media, Data source- Refinitiv
Westpac released its second and third independent reviewer reports this month from 1 February 2021 to 30 September 2021. Out of 121 activities submitted, 102 have been evaluated as complete and effective with the evaluation of the remaining 19 pending. Further, Catherine McGrath began her tenure as the Company’s CEO on 15 November.
Westpac paid an interim dividend of 58cps for the half year ended 31 March 2021 on 25 June. It will pay a final dividend of $0.6 per share on 21 December 2021.
WBC ended the day 1.76% in red to close at $23.38.
Scott Technology Limited (NZX:SCT)
Scott Technology signed a contract in October to deliver an automation solution for a US-based global appliance manufacturer. The $20 million project will help in the expansion of its appliance production line.
The Group reported a growth of 16% and 10% in revenue and gross margins, respectively, in FY21. SCT is due to pay a dividend of 4cps on 24 November 2021.
SCT ended the day 1.89% in red to close at $3.12.
Accordant Group Limited (NZX:AGL)
Accordant Group posted strong demand and activity with revenue growth of $4.5 million to $111.4 million for the 6 months ended 30 September 2021.
AGL has a dividend policy to pay 70-85% of underlying earnings. The Group will pay a dividend of 6.5cps, falling in the middle of the range of 5.5cps and 8cps announced in the ASM.
AGL ended the day 0.52% in green to close at $1.95.
Investore Property Limited (NZX:IPL)
Investore performed well and achieved great results for the half year ended 30 September 2022. The Group saw a gross value gain of roughly 4.3% and a net valuation increase of 4.1% in H1 2022.
Investore paid a Q1 FY22 dividend of 1.9cps in September and is planning to pay a cash dividend of 7.9cps for FY22.
IPL ended the day 3.76% in green to close at $1.93.
Trustpower Limited (NZX:TPW)
Trustpower notified on 10 November that the last day of trading in TPW140 would be 1 December 2021 before the suspension of bonds at the business close. The final quotation date for TPW140 has been set as 15 December 2021.
The Group will pay an interim dividend of 17cps on 3 December 2021.
TPW ended the day flat to close at $7.4.
There is always a high demand for dividend stocks amongst investors needing a consistent income source.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)