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Date : 15/03/2023

Three ASX 300 Dividend Stocks Investors Should Not Ignore

The investing world has undergone a remarkable transformation in the last couple of years, as we have witnessed a paradigm shift in interest rates. For the previous decade, interest rates remained historically low, hovering around zero in 2020 and 2021, leaving investors with minimal returns on their cash investments. Consequently, ASX 300 dividend shares became one of the few viable options for investors who wanted to secure a decent investment yield.

However, the tides have turned. The Reserve Bank of Australia (RBA) recently announced the tenth consecutive rise in interest rates, taking the cash rate from 0.1% at the end of 2021 to a staggering 3.6% – one of the sharpest increases in history. As a result, many savings accounts and term deposits now offer interest rates as high as 5% (or even higher) today.

Yet, even with these enticing offers, some of the best Australian dividend stocks on the ASX 300 charts can generate even better yields, leaving cash investments in the dust. So, let’s explore three of these high-yielding ASX dividend stocks that can outperform cash investments in the current market.

Accent Group Ltd (ASX: AX1)

Accent Group Ltd (ASX: AX1) is a dynamic company in the ASX 300 that operates in the retail sector, specializing in footwear. The company boasts an extensive portfolio of iconic brands such as Hype DC, Platypus Shoes, The Athlete’s Foot, and Skechers. The company has consistently demonstrated growth and profitability, making it popular among investors.

Accent Group has shown an impressive track record of dividend payments, providing investors with reliable and consistent returns. Accent shares have been on a roll, delivering the highest 12-month dividend payout in its history, totalling 16 cents per share. Despite a significant 43% rise in the share price over the past year, the company’s trailing dividend yield still stands at an impressive 6.67%. With the added benefit of Accent’s full franking credits, the yield grosses up to an astounding 9.53%.

Furthermore, Accent Group has a strong market position, with a significant presence in Australia and New Zealand and a growing footprint in Asia. The company has embraced e-commerce, and its digital sales have surged, accounting for a substantial portion of its revenue. This provides investors with exposure to the e-commerce boom, which is expected to continue growing in the coming years.

AX1 shares is certainly one of the top three ASX 300 dividend stocks investors should not ignore. Accent Group’s robust dividend payments, strong market position, and e-commerce growth potential make it an attractive opportunity to invest in Australian dividend stocks for those seeking a reliable yield and potential long-term growth.

Accent Group Limited ASX

Adairs Ltd (ASX: ADH)

Adairs Ltd (ASX: ADH) is a leading Australian-based home furnishings retailer that offers an extensive range of high-quality products, including bedding, homewares, and furniture. The company has a strong presence in the Australian market and is known for its exceptional customer service, innovative designs, and affordable prices. Adairs has a solid track record of paying dividends to its shareholders, with a consistent history of delivering growth in dividend payments.

Adairs Ltd (ASX: ADH) may have had a tough year, with its share price down by over 17%, but the company still managed to pay out a record-breaking 18 cents per share in dividends in 2022. This translates to an impressive dividend yield of 7.5%, which becomes even more enticing at 10.71% with Adairs’ full franking credits. Despite the challenges faced by the company, its commitment to being one of the best Australian shares for dividends and solid financial position make it a promising investment opportunity for those seeking a reliable yield.

Moreover, Adairs has embraced e-commerce and has seen tremendous growth in its online sales, which have surged in the wake of the COVID-19 pandemic. The company has invested heavily in its e-commerce platform and has made significant strides in digital marketing and online customer engagement.

In addition, Adairs has a robust balance sheet and a strong cash position, which gives the company the flexibility to pursue growth opportunities and invest in its business.

Adairs’ robust dividend payments, e-commerce growth, and financial strength make it a compelling investment opportunity for investors seeking a reliable yield and potential long-term growth in the home furnishings industry.

Adairs ASX Stocks

Harvey Norman Group Holdings Limited (ASX: HVN)

Harvey Norman Group Holdings Limited (ASX: HVN) is a well-established retail giant with a strong presence in Australia for over four decades. The company sells furniture, bedding, computers, and electrical goods. It was founded in 1982 by Gerry Harvey and Ian Norman and has grown to become a household name in the retail industry.

Despite a challenging year resulting in a nearly 29% drop in share value since March 2022, the company delivered its most substantial dividend payments to shareholders, totalling 37.5 cents per share, fully franked, in 2022.

Investors of HVN’s best ASX dividend stocks can enjoy an excellent dividend yield of 7.92% today, which becomes even more attractive when factoring in the full franking credits, resulting in a whopping 11.31% gross yield.

Despite the HVN share price dip, HVN stocks are on the top three list of shares to hold and buy. Harvey Norman’s commitment to its shareholders and impressive dividend payouts make it a potential investment opportunity for those seeking reliable Australian stocks that pay dividends.

Harvey Rorman Group Holdings Limited

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