Safest NZX Dividend Stocks by Payout Sustainability
NZX-listed dividend-paying companies ranked by payout sustainability. Considers dividend cover, payout ratio, and earnings consistency. For informational purposes only.
Updates daily · 50 companies
| # | Ticker | Company | Sector | Dividend Cover | Payout Ratio | Dividend Yield | FCF Margin |
|---|---|---|---|---|---|---|---|
| 1 | SKT | Sky Network Television Limited | Communication Services | 26.4 | 3.8% | 9.8% | - |
| 2 | AFT | AFT Pharmaceuticals Limited | Healthcare | 9.3 | 10.8% | 0.5% | - |
| 3 | SAN | Sanford Limited | Consumer Staples | 6.8 | 14.7% | 1.8% | 19.8% |
| 4 | RYM | Ryman Healthcare Limited | Healthcare | 6.2 | 16.2% | 2.4% | - |
| 5 | WIN | Winton Land Limited | Real Estate | 5.2 | 19.4% | 2.2% | -55.4% |
| 6 | SUM | Summerset Group Holdings Limited | Healthcare | 4.4 | 22.7% | 2.0% | -48.1% |
| 7 | MCK | Millennium & Copthorne Hotels New Zealand Limited | Consumer Discretionary | 4.3 | 23.5% | 1.0% | -14.2% |
| 8 | CDI | CDL Investments New Zealand Limited | Real Estate | 3.8 | 26.5% | 1.3% | - |
| 9 | CVT | Comvita Limited | Industrials | 3.3 | 30.3% | 1.7% | - |
| 10 | GEN | General Capital Limited | Financials | 3.1 | 32.2% | 3.8% | 93.6% |
| 11 | SCL | Scales Corporation Limited | Industrials | 2.8 | 35.4% | 4.2% | 1.6% |
| 12 | IFT | Infratil Limited | Utilities | 2.7 | 37.5% | 1.8% | - |
| 13 | GNZ | Goodman NZ | Real Estate | 2.4 | 42.4% | 3.6% | - |
| 14 | FWL | Foley Wines Limited | Consumer Staples | 2.4 | 42.4% | 2.8% | 2.4% |
| 15 | ARG | Argosy Property Limited | Real Estate | 2.2 | 44.8% | 6.8% | - |
| 16 | SCT | Scott Technology Limited | Industrials | 2.2 | 46.0% | 4.0% | 6.8% |
| 17 | PGW | PGG Wrightson Limited | Industrials | 2.2 | 46.1% | 3.1% | -0.2% |
| 18 | VGL | Vista Group International Limited | Information Technology | 2.1 | 47.1% | 0.9% | -2.2% |
| 19 | VSL | Vulcan Steel Limited | Materials | 2 | 50.0% | 1.0% | 9.3% |
| 20 | AIA | Auckland International Airport Limited | Industrials | 2 | 51.0% | 1.7% | -46.1% |
| 21 | THL | Tourism Holdings Limited | Consumer Discretionary | 1.9 | 52.2% | 5.3% | -11.1% |
| 22 | SEK | Seeka Limited | Consumer Staples | 1.9 | 52.6% | 8.6% | 13.6% |
| 23 | SPN | South Port New Zealand Limited | Industrials | 1.8 | 55.2% | 4.0% | - |
| 24 | TAH | Third Age Health Services Limited | Consumer Discretionary | 1.8 | 56.4% | 3.2% | - |
| 25 | DGL | Delegat Group Limited | Consumer Staples | 1.8 | 56.4% | 5.7% | - |
| 26 | GXH | Green Cross Health Limited | Healthcare | 1.7 | 59.9% | 7.1% | - |
| 27 | PFI | Property for Industry Limited | Real Estate | 1.6 | 61.4% | 3.9% | - |
| 28 | CMO | The Colonial Motor Company Limited | Consumer Discretionary | 1.6 | 62.4% | 5.1% | 3.4% |
| 29 | 2CC | 2 Cheap Cars Group Limited | Financials | 1.6 | 63.1% | 7.4% | - |
| 30 | AIR | Air New Zealand | Industrials | 1.5 | 65.1% | 4.3% | 12.2% |
| 31 | TRA | Turners Automotive Group | Consumer Discretionary | 1.5 | 65.5% | 3.7% | - |
| 32 | ENS | Enprise Group Limited | Information Technology | 1.5 | 65.7% | 1.5% | 12.6% |
| 33 | FPH | Fisher & Paykel Healthcare Corporation Limited | Healthcare | 1.5 | 66.2% | 1.3% | - |
| 34 | MFT | Mainfreight Limited | Industrials | 1.5 | 69.0% | 3.0% | - |
| 35 | MFB | My Food Bag Group Limited | Financials | 1.4 | 70.9% | 9.1% | - |
| 36 | ATM | The a2 Milk Company Limited | Consumer Staples | 1.4 | 73.4% | 2.3% | - |
| 37 | NPH | Napier Port Holdings Limited | Industrials | 1.3 | 77.6% | 3.8% | 22.3% |
| 38 | LIC | Livestock Improvement Corporation Limited | Financials | 1.2 | 81.5% | 12.9% | - |
| 39 | BGP | Briscoe Group Limited | Consumer Discretionary | 1.2 | 83.3% | 4.8% | 6.5% |
| 40 | HLG | Hallenstein Glasson Holdings Limited | Consumer Discretionary | 1.2 | 83.3% | 6.3% | 15.5% |
| 41 | FCG | Fonterra Co-operative Group Limited | Consumer Staples | 1.1 | 87.7% | 11.9% | 5.2% |
| 42 | POT | Port of Tauranga Limited | Industrials | 1.1 | 89.3% | 2.3% | - |
| 43 | FRW | Freightways Group Limited | Industrials | 1.1 | 89.5% | 3.6% | - |
| 44 | SKL | Skellerup Holdings Limited | Industrials | 1.1 | 91.7% | 5.4% | - |
| 45 | GNE | Genesis Energy Limited | Utilities | 1.1 | 92.3% | 6.3% | - |
| 46 | CEN | Contact Energy Limited | Utilities | 1 | 96.4% | 4.3% | - |
| 47 | NZX | NZX Limited | Financials | 1 | 96.9% | 4.0% | 19.1% |
| 48 | TWR | Tower Limited | Financials | 1 | 105.2% | 14.0% | 16.3% |
| 49 | HGH | Heartland Group Holdings Limited | Financials | 0.9 | 106.1% | 5.0% | - |
| 50 | MCY | Mercury NZ Limited | Utilities | 0.9 | 111.8% | 3.5% | - |
Frequently Asked Questions
What makes a dividend stock "safe"?
Dividend safety is typically assessed by examining dividend cover (earnings per share divided by dividends per share), payout ratio, and free cash flow margin. A higher dividend cover suggests the company generates sufficient earnings to sustain its dividend payments.
What is a good dividend cover ratio?
A dividend cover ratio above 1.5x is generally considered adequate, while above 2.0x suggests stronger sustainability. However, different sectors have different norms — utilities and REITs often have lower cover ratios by design.
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Disclaimer
Data sourced from publicly available NZX filings and annual reports. Our datasets may not be complete. Automated analysis can produce errors. Scores are calculated using disclosed methodology and are analytical tools, not investment ratings or recommendations. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz.
For informational purposes only. Not investment advice.