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Date : 18/01/2023

3 Best ASX Dividends Of The Week

The recently disclosed monthly CPI had some interesting figures. Monthly consumer price index figures showed that inflation is continuing to rise and resisting any attempts made to combat it. Consequently, many Australians feel the strain of price increases on their necessities.

Although there is one good news for most Australians, they have seen a rise in their income. But here is a trick the majority of those who have seen a rise in their take-home income have had that increase completely wiped out (and then some) by higher prices at the register.

What solution could possibly resolve this issue? A new side hustle or a part-time job, or an e-commerce business? Or just simply ask your boss to increase your salary? Here, things might get a bit tricky for a newbie considering having a passive income with their regular income as well.

ASX dividend stocks might be the solution if you are searching for a less labour-intensive strategy to increase your income. In contrast to investment assets, ASX dividends may offer a fully passive income source.

Don’t worry; we have everything covered. These are the best dividend stocks ASX listed that might help you build a passive income stream and increase your wealth. Find out more about these top dividend stocks to buy for the week.

ASX Dividend Stocks to Watch this January

ANZ Group (ASX: ANZ)

ANZ Group is the smallest compared to the other “big four” Australian banks. However, its retail, business, and institutional branches serve Australia and New Zealand. The bank has $283.1 billion in Australian mortgages on its books as of the end of September 2022.

The ANZ share price seems to be trading at a discount relative to its rivals. Big Blue is now selling at a price of about 10 times its earnings.

The other major banks sell between 14 and 19 times. The bank has the greatest operating expenditures among the top four at 45% of revenue, which may discourage ANZ ASX investors.

A merger of ANZ and Suncorp Group Ltd (ASX: SUN) is currently being discussed, and it will happen in the end. The ACCC will have difficulty objecting to the merger because of the precedents established by previous mergers, such as the one between Commonwealth Bank of Australia (ASX: CBA) and Bankwest, Westpac, and St. George etc. This proves there is a high possibility of a merger between the two companies.

Merging ANZ Banking Group and Suncorp would simplify operations and give the combined company more bargaining leverage. This would provide a good reason for ASX ANZ dividend stocks to trade closer to the average of its peers.

Currently yielding at 6.14%, ANZ Group shares also have the potential to appreciate in value.

ASX ANZ Shares

Westpac Banking Corporation (ASX: WBC)

Westpac Banking Corp (ASX WBC) is an ASX-listed bank stock and is considered one of Australia’s “big four” banks. Westpac owns and manages the Bank SA, Bank of Melbourne, Rams, and St. George brands in addition to its flagship Westpac brand.

In terms of dividends, Westpac shares may be one of the best choices for good dividend stocks this January. Westpac, Australia’s oldest bank, is poised to generate strong profits and dividend growth in the coming years because of the beneficial effect of higher interest rates on margins and the firm’s ambitious cost-reduction aim.

Goldman Sachs also expects dividends per WBC ASX share of $1.48 in FY2023, $1.59 in FY2024, and $1.69 in FY25, all fully franked. These dividend yields come to 6.3%, 6.8%, and 7.2% at the current Westpac share price. There is a high possibility of a gain in Westpac shares that pay ASX dividends, and investors might see a significant capital gain.

ASX Westpac Stocks

Adairs Limited (ASX: ADH)

Adairs Limited (ASX ADH) is an ASX-listed company that sells homewares and furniture in physical shops and online in Australia and New Zealand. The Adairs share price has struggled with many other ASX retailers over the last year or so. However, the firm now offers a fully franked trailing dividend yield of around 6.5%.

Adairs Limited would not certainly maintain its dividend payment of 18 cents per share in the previous year. However, based on Adairs’ performance and projections for FY2022, there is a strong chance that the company will keep up with the expectations of ADH ASX investors.

So, this is another addition on our list of best ASX dividends that may be a suitable choice for those looking to build a passive income portfolio.

Adairs ASX Dividend Stocks

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