A number of ASX dividend shares performed strongly yesterday as the S&P/ASX 200 Index (ASX: XJO) closed 4.33% higher. Signs that the coronavirus pandemic may be under control seemed to boost investor positivity. Here are 3 ASX 200 dividend shares that rose in yesterday’s market rebound.
Why these 3 ASX 200 dividend shares climbed yesterday
Investors were loading up on Fortescue Metals Group Limited (ASX: FMG) shares yesterday. Fortescue shares rocketed 6.25% to $11.22 per share in a good day for shareholders. Despite the gains, Fortescue still boasts a tidy 8.91% dividend yield.
The Aussie iron ore miner was one of the ASX 200 dividend shares to benefit from yesterday’s share market rebound. Fortescue could be one to watch in 2020 if we see the economy start to pick back up again.
It wasn’t just Fortescue that bounced back yesterday. The JB Hi-Fi Limited (ASX: JBH) share price climbed 5.53% higher on Monday to $30.73 per share. The JB Hi-Fi share price is up 24.46% this year and significantly outperforming the ASX 200 benchmark index.
The Aussie retailer should be seeing a sales boom with many Aussies working from home. More TV and computer sales seem inevitable given the coronavirus shutdown. That’s good news for shareholders, with JB Hi-Fi one of those ASX dividend shares that are hedging against the correction.
Magellan Financial Group Ltd (ASX: MFG) shares also surged higher yesterday. The Magellan share price closed 12.77% higher at $47.50 per share. Things are looking up for the Aussie fund manager’s shares in 2020. Magellan is arguably a blue-chip ASX dividend share with a 4.30% dividend yield at the moment.
Magellan has managed to consistently outperform the market for a long time. That has propelled the group’s shares higher for the best part of the decade. With investors dipping their toes back in the market right now, Magellan shares could be hot property in 2020.
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Motley Fool contributor Ken Hall 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.