It was another disappointing day for investors as many ASX 200 dividend shares slumped lower on Tuesday. The S&P/ASX 200 Index (ASX: XJO) closed 2.46% lower at 5,221.30 points as coronavirus concerns continued to climb.
Here are 3 ASX 200 dividend shares that managed to beat the market and climb higher despite yesterday’s market slump.
Evolution Mining Limited (ASX: EVN)
Evolution was one of the top-performing ASX 200 dividend shares in Tuesday’s trade. The group was one of many gold miners to experience gains as investors flocked to safety.
Gold is often in demand during times of market stress. That looks to be the case with Evolution as the $8.51 billion gold miner’s shares surged 5.05% higher to close at $4.99 per share with a 2.61% dividend yield.
Northern Star Resources Ltd (ASX: NST)
Evolution shares weren’t the only ones that investors were after on Tuesday. The Northern Star share price jumped 4.17% to $12.99 per share amid the investor gold rush.
The ASX 200 dividend share is now yielding 1.15% and boasts a market capitalisation of $9.61 billion. Northern Star became a real heavy-hitter in the gold industry with its 50% purchase of the Super Pit gold mine in January 2020.
I’ve never been a big buyer of ASX gold shares but they do seem to be holding their value despite the 2020 bear market.
Netwealth Group Ltd (ASX: NWL)
Gold wasn’t the only sector with ASX 200 dividend shares climbing higher on Tuesday. The Netwealth share price edged 0.94% higher to $7.50 per share with a 1.80% dividend yield.
Netwealth is an investment platform provider that has seen strong growth in funds under administration in recent years. Negative market movements are generally bad for fund inflows, as investors look to redeem their cash and park it in safer assets like cash, bonds or gold.
However, investors were bullish on the ASX 200 dividend share on Tuesday. With so much market uncertainty and no new announcements, I think investors are trying to buy some Netwealth shares at a discount.
Shares in the group fell as low as $4.80 in mid-March before climbing 41.50% higher to today’s $7.50 valuation.
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Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Netwealth. 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.
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