The good news is that there are still plenty of ASX dividend stocks out there that offer generous yields.
But which dividend stocks should you buy? Here are two blue chip ASX dividend stocks I would buy:
If you want to invest in the raw materials sector, you can also opt for what is arguably the highest quality miner in the world – BHP. The Big Australian has a collection of world-class, low-cost assets that generate significant free cash flow. This is currently the case in particular due to the high iron ore and copper prices. On a positive note, the mining giant also has numerous growth opportunities that could lead to strong returns in the years to come.
I believe BHP is well positioned this year to have another strong full year result and to pay more generous dividends to shareholders thanks to the strength of its balance sheet. Based on the current BHP share price, I estimate a fully franked dividend yield of 6.5%.
Another blue-chip ASX dividend stock is Telstra. Last week, the telecommunications giant fell to a multi-year low of $ 2.72. I believe this has kept the company’s stock trading at an incredibly attractive level for high income investors. Especially in view of the recent general meeting. At the event, Telstra’s board of directors announced that it would be ready to change its dividend policy to maintain the fully franked dividend of 16 cents per share. The board will do so if it believes this dividend is sustainable over the medium term.
I am confident that this will be possible given the early success of the T22 strategy, the advent of 5G internet, and the fading NBN headwind. With that in mind, and based on the current Telstra share price, I expect a return of 5.9% for fiscal 2021.
Man who said buying Kogan shares at $ 3.63 says buy those 3 ASX shares now
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* Returns from June 8th, 2020
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