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Date : 12/07/2021

Top 2 Blue Chip ASX Dividend Stocks Of The Week

Top 2 Blue Chip Dividend Stocks of the week

The ASX has been moving sideways for the past month as the market does not seem too confident with the sentiment surrounding inflation. Investors are divided between inflation being transitory or one that could last for a sustained period of time. This morning, the ASX surged 0.83%, closing at 7333.5 points.

Given how our economy is performing and the role the Fed is playing in order to manage their long-term target of decreasing unemployment and increasing wage growth, here are a couple of blue chip ASX shares to buy now.

Our List of ASX Shares to Buy Now

BHP Group (ASX: BHP)

BHP Group is arguably the most well diversified mining and exploration company there is, and it is a part of every investor’s portfolio for different reasons – maybe for the stable dividends, or to decrease the overall volatility of the portfolio. BHP shares are also one of the best blue chip stocks that trade on the ASX. BHP derives revenues from 4 main commodities – Iron Ore, Copper, Coal, and Petroleum. These commodities are very sensitive to the global economic outlook and activity. With economic activity increasing across the developed world, increased demand and inflation fears have resulted in high commodity prices. BHP shares are trading close to its highs posted earlier this year on the back of soaring iron ore prices.

On the back of sky high commodity prices, BHP’s profits will most likely soar once again for full year FY21, just as it did in the half year earnings, resulting in a very healthy dividend payout once again – making BHP shares one of the best income stocks on the ASX.

BHP shares currently trade at $51.05 a share with a dividend yield of 4.18% – a top blue chip share to buy now on the ASX.

Seek Limited (ASX: SEK)

Much like the job market in Australia, Seek shares have been in an uptrend since late last year, albeit with a few troughs. Melbourne based Seek engages in the provision of online employment classifieds, education and training services. It operates through the following segments: SEEK Asia Pacific and Americas; SEEK Investments; and Corporate Costs. The SEEK Asia Pacific and Americas segment comprises SEEK ANZ, SEEK Asia, Brasil Online, OCC and AP&A Other, and other businesses. The SEEK Investments segment consists of Zhaopin, Online Education Services and Early Stage Ventures.

Seek has been performing extremely well as of late, and SEK shares have been one of the best blue chip stocks on the ASX recently. SEK shares have returned 53.9% in the past year. The company reported favourable operating conditions and upgraded its full year guidance earlier this quarter. They have also reduced their stake in Zhaopin by diluting from 61% holding to 23.5% and the CEO advised that these proceeds will be paid out as dividends to shareholders. High levels of hiring activity amid a recovery from the pandemic has Seek operating in full swing and it has underpinned the share price action as well and these tailwinds are set to continue for the medium to long term horizon, making SEK shares one to consider for investor portfolios. SEK shares closed at $32.52 a share today – another top quality blue chip ASX stock to buy now.

Looking for best dividend stocks to invest on the ASX?

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Top 5 ASX Stocks
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