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Date : 28/07/2022

3 ASX Dividend Stocks Investors Should Buy This Week

The ASX has some lucrative dividend stocks that investors would not want to miss. Most investors always seek some stable dividend stock that would not only be a source of income for them but, in the long run, would reward them with a significant capital gain. ASX always provides investors with some excellent dividend stocks.

The S&P/ASX Dividend Opportunities Index has been doing well since the past week. The S&P/ASX 200 has gained more than 102 points, increasing 1.5% in the past 5 days. This sentiment seems favourable for the dividend stock.

Here are some ASX-listed dividend stocks offering attractive dividends; investors should not miss them. The top ASX dividend stocks are:

  1. South32 Ltd (ASX: S32)
  2. DEXUS Property Group (ASX: DXS)
  3. Bapcor Ltd (ASX: BAP)

South32 Ltd (ASX: S32)

The first dividend stock on our list is South32 Ltd (ASX: S32), one of the top resource stocks on ASX and has paid dividends consistently since its first fiscal year.

The company is a giant mining and metal stock on ASX founded in 2015 and is headquartered in Perth, Australia. The company was separated from BHP Billiton.

The company’s hefty valuation, robust free cash flows, and consistent dividend payments make it a perfect stock for dividend stock investors.

In addition, the company has excellent exposure to highly demanded commodities such as aluminium. Due to these characteristics, Macquarie has estimated that the company will also consistently pay dividends in the future. They gave it a buy rating and a price target of $6.00.

They estimate the company will pay dividends of $0.345 in FY 2022 and $0.406 in FY 2023. At the time of this writing, the South32 Ltd (ASX: S32) shares are trading at $3.56, and at this trading price, its yield will be equal to 9.8% and 11.5%, respectively.

South32 Ltd ASX

DEXUS Property Group (ASX: DXS)

DEXUS Property Group (ASX: DXS) is another ASX-listed stock that could be the best choice for dividend stock investors. It is an Australian real estate company that deals in different types of properties such as office, industrial and rental properties.

The company continued to build a high-quality portfolio in FY22 and acquired Collimate RE and domestic infrastructure business from AMP Limited (ASX: AMP). They also acquired industrial assets, including a Jandakot Airport in Perth and a logistics centre leased to Australian Post.

Ord Minnett is optimistic about the company due to its excellent position for growth in the future. They gave it a buy rating with a price target of $11.50.

The broker has estimated its dividend of $0.53 in FY22 and $0.55 in FY23, respectively. DXS is currently trading at $9.37, and at this trading price, its yield will be equal to 5.7% and 5.9%, respectively.

Bapcor Ltd (ASX: BAP)

Last but lost least, Bapcor Ltd (ASX: BAP) is an ASX-listed automotive company that is Asia Pacific’s largest provider of vehicle parts, accessories, equipment, service, and solutions.

Financial Analysts at Citi are optimistic about the company despite high inflation and a harsh economic environment. Although analysts see a small risk associated with the company’s FY22 earnings, they forecast an FY23 net income of $140 million. They have given a buy rating to BAP stock and a price target of $8.03.

They have estimated a fully franked dividend of $0.22 and $0.24 in FY22 and FY23, respectively. BAP shares are currently trading at $6.53, and at this trading price, its yield will be equal to 3.3% and 3.6%, respectively.

Are You Looking To Buy The Best Stocks In 2022?

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Top 5 ASX Stocks
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