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Date : 14/06/2024

Best ASX Dividend Stocks to Buy In June 2024

There are plenty of viable options when it comes to ASX dividend stocks. ASX is home to stocks that pay dividends regularly and consistently; some have a history of paying dividends for decades. Sometimes, it takes time for investors to choose where to invest their money.

If you are hunting for the best ASX dividend stocks, you are at the right place. We list three stocks that could be the best fit to boost your income portfolio.

These are:

  1. Centuria Industrial REIT (ASX: CIP)
  2. Fortescue Ltd (ASX: FMG)
  3. Bank of Queensland Ltd (ASX: BOQ)

Centuria Industrial REIT (ASX: CIP)

The Australian real estate investment trust Centuria Industrial REIT (ASX: CIP) acquires, manages, and develops industrial properties across Australia. The company aims to provide its investors with stable income streams and capital growth over the years through a diversified portfolio focused on high-quality industrial assets.

Centuria Industrial could be a good fit for the ASX dividend stock portfolio. Currently, it has a portfolio of 88 high-quality industrial assets worth over $3.8 billion collectively. The company ensures its assets are strategically situated in prime in-fill locations and near essential infrastructure.

Our analysts are optimistic about Centuria Industrial. They believe that the company can provide good yields in the short run. The current share price of CIP stock is $3.17, which reflects dividend yields of 5% for income investors in both years.

Fortescue Ltd (ASX: FMG)

Fortescue Metals Group Ltd (ASX: FMG) is a global leader in the iron ore industry. The company, headquartered in Australia, is focused on the exploration, development, production, and sale of iron ore.

FMG is well known on the ASX as a high-quality dividend stock. In recent years, the company has delivered high value in terms of cash/dividends. Its current dividend yield is 8.58% and usually comes with fully franked credits.

FMG stock’s last two dividend payments were $1 and $1.08 per share, respectively.

The company funds its dividend payment by relying on the semiannual price increase in iron ore. Therefore, it isn’t easy to anticipate its future dividends.

Until the iron ore markets collapse, FMG stock will remain among the highest dividend-paying stocks.

Bank of Queensland Ltd (ASX: BOQ)

Bank of Queensland Ltd (ASX: BOQ) is an Australian retail bank that offers a range of financial services, including personal banking, business banking, and wealth management.

Currently, the bank has around 1.4 million customers and a 2.7% market share of the Australian residential mortgage market.

Bank of Queensland is currently trading at $5.93 per share, boasting a trailing dividend yield of 6.41% from dividends of 38 cents per share in the last 12 months.

BOQ stock is currently trading at $5.93 per share. Its trailing dividend yield is 6.41%, based on dividends of 38 cents per share over the previous year. This is the highest yield by any ASX banking stock.

Although economic conditions were not ideal in previous years, the bank still managed to pay decent dividends.

 

Are You Looking To Buy The Best Stocks In 2024?

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Get stock tips with our Market Experts. We help self-directed investors and self-managed super funds (SMSF) make smarter investment decisions and get better returns. Fill in your details and download your free Report instantly for Top 3 Dividend Stocks to buy in 2024!

 

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