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Date : 17/08/2022

Top 3 Dividend Shares to Buy in August 2022

Before we discuss the best dividend stocks on the ASX, we must first understand the market and how investors react to the current economic situation.

Current financial discussion centres on the question of whether or not ASX shares and other stock markets across the globe have reached their threshold. Is the bear ready to take cover for the winter, or does it have other plans for spring?

No matter where the bear goes, two things haunt investors and companies are interest rates and inflation. Both are perennial news topics. Additionally, many people are under financial strain due to rising costs and mortgage payments. Having an extra source of income in the form of dividend stocks could ease the situation for investors.

Here are the top 3 dividend stocks investors should keep an eye on in August:

  1. Bank of Queensland Limited (ASX: BOQ)
  2. Dexus Industria REIT (ASX: DXI)
  3. Collins Foods Ltd (ASX: CKF)

Bank of Queensland Limited (ASX: BOQ)

Bank of Queensland Limited (ASX: BOQ) is a major financial services provider in Australia outside of the “big four.” It includes the Bank of Queensland brand, ME Bank, and Virgin Money Australia brands.

Citigroup’s research team recommends buying shares of the Bank of Queensland. The broker anticipates that cost savings from the ME Bank purchase will support profit growth, although higher rates may restrict revenue growth if lending volumes drop. Citigroup recommends buying rating with a price target of $8.75 for BOQ shares.

The broker expects fully franked dividends per share of 46 cents in FY 2022 and 50 cents per share in FY 2023. The current price of $7.59 for a share of Bank of Queensland stock equates to a yield of 6.1 and 6.6% yield, respectively.

Bank of Queensland Limited

Dexus Industria REIT (ASX: DXI)

Formerly known as APN Industria, Dexus Industria REIT (ASX: DXI) is a real estate investment trust (REIT) focused on industrial and commercial assets that provide flexible, cost-effective accommodation for enterprises.

Despite the increasing cost of capital, Morgans still has an optimistic outlook on the firm. The firm maintained the stock at an add rating this week, while the price objective was reduced to $3.28.

Experts also predict attractive dividend yields in the near future. The broker estimates dividend payouts of 17.3 cents per share in FY 2022 and 16.1 cents per share in FY 2023. A share price of $2.83 equates to a 6% and 5.6% yield for Dexus Industria investors.

Dexus Industria REIT

Collins Foods Ltd (ASX: CKF)

Collins Foods Ltd (ASX: CKF) is a major KFC franchisee in Australia, operating more than 260 stores nationwide. Taco Bell is also expanding its global footprint, with an increasing number of locations in Europe and a smaller but expanding Taco Bell franchise in Australia.

The company is already rather large, but its leaders believe that significant untapped potential exists in the Australian and European markets. While expanding its main KFC Australia presence, it has previously emphasised its substantial organic growth pipeline and the enticing potential it has to attain scale in KFC Netherlands and Taco Bell Australia.

The future dividends of the corporation may benefit from this. Certainly, Morgans seem to anticipate this happening. In FY 2023, analysts expect dividends of 28 cents, and in FY 2024, they expect dividends of 31 cents. The current price of $10.06 per share equates to a 2.8% and 3.1% yield, respectively, for Collins Foods investors.

Collins Foods Ltd

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