With the August reporting season now done, we look over the results to identify some of the ASX shares delivering the best dividend bumps this season.
As the cost of living crisis continues, dividends are becoming even more important.
A recent study found that a sustainable passive income stream is the highest priority for investors today.
Here are 12 ASX shares delivering a significant 20%-or-higher boost in dividends this earnings season.
Passive income investors, take note…
12 ASX shares delivering 20%-plus dividend boosts
The biggest dividend turbocharger of the season looks to be ASX 200 lithium miner IGO Ltd (ASX: IGO). The final dividend will be 1,100% higher than last year at 60 cents per share. This comprises a 44-cent final dividend and a 16-cent special dividend. All of this is due to a 278% annual increase in underlying net profit after tax (NPAT) at $1.53 billion.
AGL Energy Limited (ASX: AGL) shares will pay a 130% higher final dividend of 23 cents per share. The company benefitted from higher energy prices with a 25% bump in its underlying NPAT in FY23.
Insurance Australia Group Ltd (ASX: IAG) reported a 140% increase in NPAT to $832 million. It shared the love by rewarding IAG shares investors with a final dividend of 9 cents per share, up 80%.
Super Retail Group Ltd (ASX: SUL) declared a final dividend of 44 cents per share plus a special dividend of 25 cents per share following record sales and an 11% surge in NPAT to $263 million in FY23. If we put that together, the retail share's final dividend will be a whopping 60% higher than FY22.
Suncorp Group Ltd (ASX: SUN) raised its final dividend by an equally impressive 59% to 27 cents per share. The banking and insurance giant reported an NPAT of $1.15 billion, up from $681 million in FY22.
Pro Medicus Ltd (ASX: PME) has wowed passive income investors with a final dividend of 17 cents, up 36% on FY22. The medical imaging company reported a 36.5% bump in NPAT to $60.5 million.
NIB Holdings Ltd (ASX: NHF) also raised its final dividend by 36% to 15 cents per share. The ASX 200 healthcare insurer reported a 43% increase in NPAT at $191 million.
Carsales.Com Ltd (ASX: CAR) shares will pay a final dividend of 32.5 cents per share, up 33% on FY22. The online car advertiser reported a 43% increase in adjusted NPAT to $278.2 million.
Bendigo and Adelaide Bank Ltd (ASX: BEN) raised its final dividend by 21% to 32 cents per share after the regional bank reported a 14% increase in total income to $1.93 billion.
Cochlear Limited (ASX: COH) will reward investors with a 21% boosted final dividend of $1.75 per share. The hearing implant giant reported record revenue and a 10% rise in underlying net profit to $305 million.
Origin Energy Ltd (ASX: ORG) shares will also pay a 21% boosted dividend of 20 cents per share this season. And as an added bonus, the final dividend this time around is fully franked. The ASX 200 energy provider enjoyed an 84% jump in underlying profit to $747 million in FY23.
The Transurban Group (ASX: TCL) also upped its final dividend by 21% to 31.5 cents per share. The toll road operator reported record proportional toll revenue of $3.3 billion, up 26% from FY22.
