The upcoming dividend stocks in May 2024 has some stocks that give consistent dividend returns.
Top Upcoming Dividend Stocks for the current month are
Autosports Group Limited (ASX: ASG)
Market capitalization - $522.60M
Annualized Dividend Yield – 7.39%
Autosports Group Limited, in H1 FY2024 delivered a revenue growth of $280m led by Organic revenue growth of $114m. With trading conditions normalising Gross profit was up 20%. EBIT was up 21.9% as operational expenses were controlled to enable revenue and gross profit gains to flow through.
The company had acquired the Subaru and Kia Rosebery businesses from Suttons Motor Group last year. ASG expanded into the New Zealand market with the acquisition of Auckland City BMW Limited providing it immediate scale into the NZ luxury auto brands market and enhancing the geographic diversity as also enabling the reach of Autosports Group beyond Australia.
Earlier, Autosports Group had continued its growth trajectory by acquiring Motorline and Gold Cost BMW and MINI businesses in Queensland. The company had also opened Ringwood BMW in Victoria is its latest greenfield site,
The company’s growth was driven by acquisitions and supported by organic growth. 2023FY and H1 2024FY vehicle sales and higher service customer retention was instrumental in increasing backend revenue. With market consolidation accelerating and improved line of sight on acquisitions, it is targeting $250m in annual acquisition led revenue growth
Interim dividend increased 11.1% to 10c per share fully franked on positive trading outlook. Ex-date 16 May 2024.
Tamawood Limited (ASX: TWD)
Market capitalization - $114.82M
Annualized Dividend Yield – 8.62%
Tamawood Limited released its half-year results for the period ending 31 December 2023 wherein the Revenue experienced a notable increase of 16%, rising from $37.8 million in the prior corresponding period (PCP) to $44.2 million during the reported half-year period.
Profit after tax for the first half of FY24 reached $3.189 million, marking a substantial increase of 289% compared to the first half of FY23, which amounted to $819,000.
The implementation of Tamawood's Project DE-Risk superior software solution facilitated swift and precise cost adjustments, while advanced project management components minimised on-site and processing delays.
TWD announced an interim dividend of 11 cents fully franked for the period ending December 2023, following a final dividend of 16 cents for FY 2023. This brings the total dividend for the previous 12 months to 27 cents, partially franked. Ex-date 16 May 2024.
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