Peter Quinton, Director of Research at Bell Potter, has released his latest update on preferred yield stocks
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Peter Quinton, Director of Research at Bell Potter, has released his latest update on preferred yield stocks. Quinton notes, after the 12% rise in the Australian share market since late June, the average 2014 dividend yield of 4.7% is now only slightly above the long term average of 4.6%. However, this dividend yield of 4.7% (around 80% franked) is equivalent to a grossed-up dividend yield of 6.3%, which is still substantially above the current 90-day bank bill rate of 2.7%, the 10-year bond yield of 4.2%, and bank 12-month term deposit rates of around 3.3%. Quinton has recently added Premier Investments to his pool of preferred dividend stocks highlighting a yield of 5.1%, 100% franking and dividend per share growth of 15% (FY13 - 15). Other picks include the Big Four banks, AMP, GPT, APA Group and Southern Cross Austereo.
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