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.

Code Name Price (14/9/20) Dividend per share Yield YTD % Return Market Cap
EYE NOVA EYE MEDICAL LTD 0.32 0.135 42.19 -13.71 45.95M
BSE BASE RESOURCES LTD 0.3 0.035 11.67 33.33 353.40M
ASH ASHLEY SERVICES GROUP LTD 0.32 0.027 8.44 -14.32 46.07M
SDG SUNLAND GROUP LTD 1.29 0.1 7.75 -15.83 177.30M
FWD FLEETWOOD CORP LTD 1.71 0.12 7.02 -13.43 161.31M
CGO CPT GLOBAL LIMITED 0.19 0.0125 6.58 -10.97 7.27M
TPC TPC CONSOLIDATED LTD 1.55 0.08 5.16 80.65 17.42M
BIS BISALLOY STEEL GROUP LTD 1 0.05 5.00 -10.71 45.42M
KSL KINA SECURITIES LTD 0.81 0.04 4.94 -37.79 141.11M
XRF XRF SCIENTIFIC LTD 0.29 0.014 4.83 28.26 39.48M
CGR CML GROUP LTD 0.37 0.0175 4.73 -33.93 80.50M
MOC MORTGAGE CHOICE LTD 0.77 0.035 4.55 -32.23 96.87M
GAP GALE PACIFIC LTD 0.22 0.01 4.55 -11.78 60.59M
SXE SOUTHERN CROSS ELECTRICAL 0.45 0.03 6.67 -23.08 111.43M
IPC IMPERIAL PACIFIC LTD 1.03 0.0625 6.07 1.98 3.18M
RXP RXP SERVICES LTD 0.42 0.025 5.95 -17.15 67.66M
AVG AUSTRALIAN VINTAGE LTD 0.5 0.027 5.40 -5.71 138.95M
EZL EUROZ LTD 1.13 0.06 5.31 18 182.83M
SHM SHRIRO HOLDINGS LTD 0.61 0.03 4.92 -4.46 57.53M
AKG ACADEMIES AUSTRALASIA GROUP 0.29 0.01365 4.71 -43.55 37.65M
TWD TAMAWOOD LTD 3 0.14 4.67 -8.39 84.79M
MYE MASTERMYNE GROUP LTD 0.88 0.04 4.55 -4.21 89.50M
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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.