As the Australian market sees a positive shift with the ASX200 closing up 0.69% at 8,126 points, investors are taking note of strong performances in sectors like IT and Real Estate. In this environment, dividend stocks can offer a compelling opportunity for those seeking steady income streams amidst fluctuating sector performances.

Top 10 Dividend Stocks In Australia

Click here to see the full list of 29 stocks from our Top ASX Dividend Stocks screener.

Let's uncover some gems from our specialized screener.

Aspen Group

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Aspen Group (ASX:APZ) is a leading provider of quality accommodation in residential, retirement, and park communities, with a market cap of A$620.49 million.

Operations: Aspen Group's revenue segments include quality accommodation offerings in residential, retirement, and park communities.

Dividend Yield: 3.2%

Aspen Group's dividend payments are supported by a payout ratio of 58.5% and a cash payout ratio of 72.9%, indicating coverage by both earnings and cash flows. However, its dividend yield of 3.24% is lower than the market's top quartile, and past dividends have been volatile with occasional drops over 20%. Despite these concerns, Aspen trades at a discount to its estimated fair value and has shown recent earnings growth with net income rising to A$31.17 million for H1 2025.

• Navigate through the intricacies of Aspen Group with our comprehensive dividend report here.
• Our valuation report here indicates Aspen Group may be undervalued.

Carlton Investments

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Carlton Investments Limited is a publicly owned asset management holding company with a market cap of A$835.80 million.

Operations: Carlton Investments Limited generates its revenue primarily through the acquisition and long-term holding of shares and units, amounting to A$42.01 million.

Dividend Yield: 3.3%

Carlton Investments' dividends are supported by a payout ratio of 72.5% and a cash payout ratio of 68.8%, ensuring coverage by earnings and cash flows. Despite past volatility with annual drops over 20%, recent increases include a fully franked interim dividend of A$0.45 per ordinary share. The current yield is 3.29%, below the top quartile in Australia, but earnings have grown steadily, reaching A$20.3 million for H1 2025, up from A$19.68 million previously.

• Click here and access our complete dividend analysis report to understand the dynamics of Carlton Investments.
• Our valuation report here indicates Carlton Investments may be overvalued.

NRW Holdings

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: NRW Holdings Limited offers diversified contract services to the resources and infrastructure sectors in Australia, with a market cap of A$1.24 billion.

Operations: NRW Holdings Limited generates revenue from its key segments in millions of A$: MET (853.22), Civil (776.06), and Mining (1.56 billion).

Dividend Yield: 5.7%

NRW Holdings' dividends are backed by a payout ratio of 63.4% and a cash payout ratio of 55.3%, indicating coverage by earnings and cash flows, though past payments have been volatile. The recent dividend increase to A$0.07 per share reflects some growth, but the yield remains below top-tier Australian dividend payers at 5.72%. Recent earnings improvements, with net income rising to A$51.69 million for H1 2025, enhance its financial position despite historical dividend unreliability.

• Get an in-depth perspective on NRW Holdings' performance by reading our dividend report here.
• Upon reviewing our latest valuation report, NRW Holdings' share price might be too pessimistic.

Where To Now?

• Access the full spectrum of 29 Top ASX Dividend Stocks by clicking on this link.
• Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes.
• Enhance your investing ability with the Simply Wall St app and enjoy free access to essential market intelligence spanning every continent.

Contemplating Other Strategies?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include ASX:APZ ASX:CIN and ASX:NWH.

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