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Why are these ASX 200 dividend shares climbing higher?

man jumps up a chart, indicating share price going up on the ASX bank dividend
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It’s fair to say that 2020 hasn’t been the best year for ASX 200 dividend shares. In fact, it hasn’t been the best year for most members of the S&P/ASX 200 Index (ASX: XJO).

The benchmark index is down 19.99% since the start of the year to 5,353 points. That’s a far cry from the record highs above 7,000 points we celebrated in January.

However, it’s not all doom and gloom in the markets right now. With so much change and constant information updates, it’s a busy time for the Aussie share market.

Here’s why 3 top ASX 200 dividend shares were climbing higher in yesterday’s trade.

3 ASX 200 dividend shares that climbed yesterday

It wasn’t a great start to the week for Aussie shares as the benchmark index shed 2.45% on Monday. However, Nine Entertainment Co Holdings Ltd (ASX: NEC) shares rocketed 4.35% higher to $1.20 per share with a dividend yield of 8.33%.

Shares in the Aussie media group have been making a recovery of sorts. One side effect of the coronavirus restrictions is more time on the goggle box for most Aussies.

That has boosted demand for advertising, which could help Nine’s earnings in August. Talks to restart the NRL season could be the start of bigger things to come for the ASX 200 dividend share in 2020.

Another big name climbing higher on Monday was Domain Holdings Australia Ltd (ASX: DHG). Personally, I think the worst could still be to come for the Aussie residential property sector.

However, investors had other ideas yesterday as the Domain share price jumped 2.59% higher to $2.38 per share with a 2.52% dividend yield. The increased financial strain from COVID-19 could increase property listings on the website as sellers try to bank a deal before the market heads south.

Either way, Domain shares jumped higher on Monday and was another top-performing ASX 200 dividend share.

It was a similar story for Blackmores Limited (ASX: BKL) which I thought was another unlikely gainer.

Blackmores shares jumped 2.12% higher yesterday and are back to $81.70 per share with a 2.69% dividend yield. For context, the health supplements group’s share price closed at $64.00 on 12 March.

That’s an impressive recovery from one of the hardest-hit ASX 200 dividend shares. However, signs that supply chains remain intact are positive for Blackmores and its potential earnings in 2020 and beyond. 

Foolish takeaway

Whatever your views on the Aussie share market in 2020, yesterday’s ASX 200 dividend share gains showed there are still plenty of buyers in the market.

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Returns As of 6th October 2020

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia has recommended Nine Entertainment Co. Holdings Limited. 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.

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