4 high yield ASX dividend shares to buy right now

Here are 4 high yield dividends that will go ex-dividend in early October. All good companies with long track records of achievement.
The post 4 high yield ASX dividend shares to buy right now appeared first on Motley Fool Australia. –

Between now and Friday 9 October, there are a range of opportunities to capture high yield ASX dividends. Some of these companies are small caps, albeit with solid performance, while others are ASX 200 giants. For investors interested in building an income-generating portfolio, these companies may represent some solid additions.

A quick guide to ASX dividends

When building a sustainable portfolio of ASX dividend shares, investors need to focus on three things. First, there is no need to look only at the top 20 or 50 companies. A company has to have a proven, cash-generating business model. Second, you must be able to invest in ASX dividend shares without sacrificing your capital. Third, a company should be able to pay the dividends from direct earnings. 

So let’s take a look at my pick of 4 high yield ASX dividend shares to buy right now.

Southern Cross Electrical Engineer Ltd (ASX: SXE)

Southern Cross is an electrical contracting company. I worked on several construction projects for the company more than 20 years ago. This share goes ex-dividend on 7 October, 2020. At today’s closing price, the payment will be a yield of 6.12%. In addition, this ASX dividend share has paid a consistent dividend in 8 of the past 10 years. In the past 3 years, the Southern Cross share price has fallen after payment, but has regained ground again. The company already has $330 million of secured project work in FY21, which accounts for 80% of the revenue target.

XRF Scientific Limited (ASX: XRF)

XRF is a small cap company that manufactures equipment and chemicals used in the preparation of samples for analysis. To illustrate the value of this company, in FY20 it increased its net profit after tax (NPAT) by 46%. This ASX dividend share goes ex-dividend on 1 October with a payment that will yield 4.59% based on today’s closing price. Based in Perth, the company is keyed into the mining industry and has a diverse range of mining clients. 

GR Engineering Services Ltd (ASX: GNG)

GR Engineering provides engineering design, procurement and construction services to the mining and mineral processing industry and the provision of operations, maintenance, projects and advisory services to the oil and gas sector. It forecasts revenue for FY21 to be in the range of $280 million to $300 million, with improvement in margins.

This ASX dividend share goes ex-dividend on 8 October with a payment that will yield 3.96% based on today’s closing price.

Harvey Norman Holdings Limited (ASX: HVN) 

Harvey Norman has had a great year during the pandemic. In fact, NPAT rose by 19.4% compared to FY19 due to the work from home phenomenon, and an increase in online sales. The Harvey Norman ASX dividend payment will yield 3.93% at today’s closing price. The ex-dividend date is 9 October.

These 3 stocks could be the next big movers in 2020

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

Motley Fool contributor Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post 4 high yield ASX dividend shares to buy right now appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!