Looking for an ASX 300 dividend stock that looks well-placed to smash the returns delivered by the S&P/ASX 300 Index (ASX: XKO) over the next 12 months?
Then you may want to consider the intellectual property services company IPH Ltd (ASX: IPH).
That's according to the analysts at Macquarie Group Ltd (ASX: MQG), who believe IPH shares are currently trading at an "attractive" value.
In afternoon trade today, shares in the ASX 300 dividend stock are up 2.2%, changing hands for $5.12 apiece.
That sees the IPH share price down 17.8% over 12 months, with shares having gained 3.0% so far in 2025.
As for that passive income, IPH shares trade on a partly franked trailing dividend yield of 7.0%.
Here's what Macquarie had to say about the company in a research report released on Wednesday.
Time to buy this high-yielding ASX 300 dividend stock?
In its latest report, Macquarie maintained its outperform rating on IPH shares and a 12-month price target of $6.75 a share.
That represents a potential upside of 31.8% from current levels. And it doesn't include the passive income on tap from this quality ASX 300 dividend stock.
The broker maintained its bullish outlook despite noting that IPH's sustained lower filing activity saw its share of the Australian market decline to 26.1% in June. And its Patent Cooperation Treaty (PCT) filings remained volatile, down 19% year on year and down 16% in the second half of FY 2025.
Looking at global activity, Macquarie said that "US PCT activity growth remains negative (-6.6% qtr rolling, -4.6% annual rolling to Apr-25)".
Allowing for a 12 to 18 month delay between primary market filings in the United States and secondary market filings in Australia, Macquarie said that current Australian activity correlates with the historically lower US activity.
Addressing activity seasoning, or how the data is updated as late filings are processed, Macquarie said:
May saw positive seasoning with both the market and most IPH firms gaining filings. April saw slight positive seasoning in market activity only and in March, both the market and IPH remains unchanged and may be fully seasoned.
As for what could drive some outsized gains for the ASX 300 dividend stock, the broker said key growth drivers include:
- R&D and innovation to drive competitive advantage
- New technologies (e.g. AI)/global industry disruption requiring protection
- Government policies to drive sector innovation and promote industry (e.g., US CHIPS and Science Act, 2022)
- Increased product differentiation and branding
