Top Dividend Stocks For The Week
Dividend stocks such as Wesfarmers and Australia and New Zealand Banking Group can help diversify the constant stream of cash flows generated by your portfolio. These stocks are a safe bet to increase your portfolio value as they provide both steady income and cushion against market risks. Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. I’ve made a list of other value-adding dividend-paying stocks for you to consider for your investment portfolio.
Wesfarmers Limited (ASX:WES)
Wesfarmers Limited engages in the retail, coal mining and production, gas processing and distribution, industrial and safety product distribution, chemicals and fertilizers manufacturing, and investment businesses in Australia, New Zealand, the United Kingdom, and internationally. Established in 1914, and currently run by Robert Scott, the company currently employs 223,000 people and has a market cap of AUD A$49.40B, putting it in the large-cap category.
WES has an appealing dividend yield of 5.51% and the company currently pays out 87.56% of its profits as dividends . Although there has been some volatility in the company’s dividend yield, the DPS over a 10 year period has increased from $2.32 to $2.4. Interested in Wesfarmers? Find out more here.
Australia and New Zealand Banking Group Limited (ASX:ANZ)
Australia and New Zealand Banking Group Limited, together with its subsidiaries, provides various banking and financial products and services to individual and business customers. Started in 1835, and now led by CEO Shayne Elliott, the company now has 44,896 employees and with the company’s market cap sitting at AUD A$82.67B, it falls under the large-cap group.
ANZ has a enticing dividend yield of 5.64% and pays 72.69% of it’s earnings as dividends . Despite some volatility in the yield, DPS has risen in the last 10 years from $1.36 to $1.6. Dig deeper into Australia and New Zealand Banking Group here.
Westpac Banking Corporation (ASX:WBC)
Westpac Banking Corporation provides various banking and financial services in Australia, New Zealand, Asia, the Pacific region, and internationally. Started in 1817, and run by CEO Brian Hartzer, the company provides employment to 35,096 people and with the company’s market cap sitting at AUD A$104.02B, it falls under the large-cap stocks category.
WBC has a great dividend yield of 6.14% and the company has a payout ratio of 79.00% . While there’s been some level of instability in the yield, WBC has overall increased DPS over a 10 year period from $1.36 to $1.88. More detail on Westpac Banking here.
For more solid dividend payers to add to your portfolio, you can use our free platform to explore our interactive list of top dividend payers.
To help readers see pass the short term volatility of the financial market, we aim to bring you a long-term focused research analysis purely driven by fundamental data. Note that our analysis does not factor in the latest price sensitive company announcements.
The author is an independent contributor and at the time of publication had no position in the stocks mentioned.
