Dividend Stocks: Here are some of the ASX’s most generous payers

Dividend stocks on the ASX have predominantly been large caps. While COVID-19 has caused some to cut back, others — including some small caps –continued to make generous cash payments to shareholders.

Stockhead has identified all of the dividend paying small caps and ranked those with a yield above 4.5 per cent — the ASX200 average in 2019.

Here are all the ASX dividend stocks with yields above 4.5 per cent:

Swipe or scroll to reveal the full table. Click headings to sort.

Note: Market cap cut off is $500m, dividends only counted when paid between June 1 and October 30.

The most generous dividend-paying stocks

Taking top ranking for giving back shareholders the most cash is eye-care company Nova Eye Medical (ASX:EYE).

On top of a standard dividend, shareholders also received a capital return from the sale of the company’s lasers and ultrasound business to European optometry company Lumibird.

While not many small cap miners made the list of dividend stocks, Africa-focused mineral sands producer Base Resources (ASX:BSE) took out silver.

The company opted to pay a 3.5c-per-share dividend after booking revenues of $US208m ($284.4m) and a net profit of about $US40m.

A handful of companies in the industrial sector were also dividend-paying stocks.

These included Fleetwood (ASX:FWD), Southern Cross Electrical (ASX:SXE) and home builders Sunland Group (ASX:SDG) and Tamawood (ASX:TWD).

This sector has avoided the worst of COVID-19 thanks to government support, but the industry has warned it isn’t out of the woods yet.

Upskilling, refinancing stocks pay-out too

The COVID-19 pandemic has led to many people considering their financial positions and futures. A number of companies that have benefited from this strong demand for financial advice have also made the list of dividend-paying stocks.

These include finance brokers Mortgage Choice (ASX:MOC) and CML (ASX:CGR), which has been helping people refinance their debts or pay them down, and broker Euroz (ASX:EZL), which has played its part in the boom in equity market activity in 2020.

This was driven by the dual forces of ASX-listed companies pushing to top up the coffers or capitalise on new opportunities while people worried about financial insecurity sought a new way to build wealth by trying out the stock market.

Education provider Academies Australasia (ASX:AKG) and training, recruitment and labour hire firm Ashley Services (ASX:ASH) have also paid dividends in recent months.