As the earnings season continues, more companies are announcing their next dividends.

We'll help you keep track of ex-dividend dates with an article every Friday over the next two months.

Here are the ASX 200 shares going ex-dividend next week.

ASX shares with ex-dividend dates ahead

Insurance Australia Group Ltd (ASX: IAG)

This ASX 200 financial share will pay an 80% franked dividend of 20 cents per share on 28 September.

IAG shares go ex-dividend on Monday, 24 August.

QBE Insurance Ltd (ASX: QBE)

QBE will pay a 30% franked dividend of 33 cents per share on 2 October.

The ex-dividend date is Monday, 24 August.

Santos Ltd (ASX: STO)

This ASX 200 energy share will pay an unfranked dividend of 11.6 US cents per share on 23 September.

Santos shares go ex-dividend on Monday, 24 August.

Amotiv Ltd (ASX: AOV)

This ASX 200 retail stock will pay a 100% franked dividend of 23 cents per share on 15 September.

Amotiv shares go ex-dividend on Tuesday, 25 August.

Deterra Royalties Ltd (ASX: DRR)

This ASX 200 materials share will pay a 100% franked dividend of 10.8 cents per share on 22 September.

The ex-dividend date is Tuesday, 25 August.

AGL Energy Ltd (ASX: AGL)

This ASX 200 utilities stock will pay a 100% franked dividend of 26 cents per share on 24 September.

AGL shares go ex-dividend on Tuesday, 25 August.

Challenger Ltd (ASX: CGF)

This ASX 200 financial stock will pay a fully-franked dividend of 17.5 cents per share on 17 September.

Challenger shares go ex-dividend on Tuesday, 25 August.

Telstra Group Ltd (ASX: TLS)

This ASX 200 telco will pay a 90% franked dividend of 10.5 cents per share on 24 September.

The ex-dividend date is Wednesday, 26 August.

Lottery Corporation Ltd (ASX: TLC)

This ASX 200 consumer discretionary share will pay a 100% franked dividend of 8.5 cents per share on 24 September.

Lottery Corp shares go ex-dividend on Wednesday, 26 August.

JB Hi-Fi Ltd (ASX: JBH)

This ASX 200 retail share will pay a 100% franked dividend of $1.27 per share on 11 September.

JB Hi-Fi shares go ex-dividend on Thursday, 27 August.

SRG Global Ltd (ASX: SRG)

This ASX 200 industrial stock will pay a 100% franked dividend of 4 cents per share on 11 September.

The ex-dividend date is Thursday, 27 August.

Ebos Group Ltd (ASX: EBO)

This ASX 200 healthcare share will pay a 97% franked dividend of 63.7 NZD cents per share on 18 September.

Ebos shares go ex-dividend on Thursday, 27 August.

REA Group Ltd (ASX: REA)

This ASX 200 communications share will pay a fully-franked dividend of $1.73 per share on 11 September.

The ex-dividend date is Thursday, 27 August.

Beach Energy Ltd (ASX: BPT)

This ASX 200 energy stock will pay a fully-franked dividend of 2 cents per share on 30 September.

The ex-dividend date is Friday, 28 August.

Orora Ltd (ASX: ORA)

This ASX 200 materials stock will pay an unfranked dividend of 4 cents per share on 6 October.

The ex-dividend date is Friday, 28 August.

Iress Ltd (ASX: IRE)

This ASX 200 tech stock will pay a 100% franked dividend of 14 cents per share on 28 September.

The ex-dividend date is Friday, 28 August.

The post 16 ASX 200 shares with ex-dividend dates next week appeared first on The Motley Fool Australia.

The team at Morgans has just provided fresh guidance on Lottery Corporation Ltd (ASX: TLC) and Superloop Ltd (ASX: SLC). 

Both companies have faced headwinds over the last 12 months, resulting in share price losses between 3% and 8% in that span. 

What did the companies report?

As reported by James Mickleboro earlier this week, Lottery Corporation announced resilient FY26 results. The company maintained a fully franked full-year dividend and continued growth in its Keno business, despite rare unfavourable jackpot outcomes.

EBITDA (before significant items) of $736.1 million was down 1.8%, while NPAT (before significant items) of $342.5 million was down 6.3%. 

Meanwhile, Superloop announced underlying EBITDA increased 33% to $122.7 million, exceeding the top end of upgraded guidance. 

Revenue was up 21.6% to $664.3 million with 205,000 net new customers. 

The full releases can be found here: 

• Superloop FY Results
• Lottery Corporation FY Results. 

Following these results, Morgans provided commentary on both ASX 300 companies. 

Morgans' view on Superloop shares 

Morgans said given the upgraded FY26 EBITDA guidance in mid-June 2026, the result was largely as expected. 

It is worth noting underlying EBITDA was slightly above the top end of guidance, marking the third upgrade in FY26. The composition of the result underpins our comfort that FY27 consensus expectations for ~$150m of underlying EBITDA are achievable. We retain our HOLD recommendation but lift our Target Price to $3.40.

From yesterday's closing price, this target indicates almost 9% upside. 

Morgans' view on Lottery Corporation shares 

Morgans said this ASX 300 stock delivered a resilient FY26 result. 

Price retention held up well, with 63% on Powerball and 100% on Saturday lotto, and the dividend was maintained at 16.5cps. Looking ahead, new FY27 guidance rebases opex to $305-315m and D&A to $125-130m, and with conditions still softer against undemanding comps, we have cut our top-line Lotteries forecasts by 2-3% across FY27-28F.

Below the line, the reclassification of Keno revenue, the exit from online Keno and higher interest costs following the Victorian licence renewal drive c.6-7% EPS cuts. We retain our Hold recommendation, with a revised price target of $5.60 (prev. $5.70).

From yesterday's closing price, this updated target indicates a modest upside of just over 7%. 

The post What is Morgan's view on these ASX 300 shares following earnings results? appeared first on The Motley Fool Australia.

What did The Lottery Corporation report?

• Revenue of $3,582.5 million, down 2.7% on the prior year
• EBITDA (before significant items) of $736.1 million, down 1.8%
• NPAT (before significant items) of $342.5 million, down 6.3%
• Full-year dividend of 16.5 cents per share, fully franked, unchanged from last year
• Keno revenue grew 3.0% to $364.3 million; Keno EBITDA up 6.2% to $109.5 million
• Operating expenses reduced by $11.2 million to $295.9 million

What else do investors need to know?

The Lottery Corporation faced historic low jackpot outcomes this year, with no $100 million Powerball draw for the first time since FY21 and no Oz Lotto $50 million jackpot since FY17. These factors led to notable declines in jackpot game turnover and revenue but were partly offset by price increases and disciplined expense management.

A standout event was the 40-year extension of the Victorian lottery licence, significantly increasing certainty and duration of earnings. This extension also triggered a planned change to the company's dividend policy, shifting to 80–100% of NPATA (before significant items) from FY27, to better reflect underlying cash flow.

What did The Lottery Corporation management say?

Lottery Corporation's CEO, Wayne Pickup, commented:

The Lottery Corporation's infrastructure-like qualities were again evident in FY26, underpinned by our long-dated licences, trusted brands, scaled distribution and reliable cash generation. The recent 40-year extension of the Victorian lottery licence has structurally lowered the risk of our business, extended the duration of our licence base and reinforced our strong investment-grade credit rating.

What's next for The Lottery Corporation?

Looking to FY27, management is focused on driving growth through further digital innovation and product refreshes, including price changes to Set for Life and a new Oz Lotto variant subject to approval. The company aims to expand its digital customer base, launch new retail terminals, and enhance instant-win game offerings.

The business will remain disciplined with costs and capital allocations, targeting $305–315 million in FY27 operating expenses. Strategic investment in technology and customer engagement is expected to underpin sustainable long-term growth, even as jackpot-driven revenues naturally fluctuate.

The Lottery Corporation share price snapshot

The Lottery Corporation share price has moved broadly in line with the S&P/ASX 200 index (ASX: XJO) over the past year, with performance reflecting both sector trends and jackpot variability.

View Original Announcement

The post The Lottery Corporation FY26 earnings: steady results, dividend held appeared first on The Motley Fool Australia.

Will the market be able to bounce back from this on Wednesday? Here are five things to watch:

ASX 200 to fall

The Australian share market looks set for a poor session on Wednesday following a disappointing night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.2% lower. In the United States, the Dow Jones fell 0.2%, the S&P 500 dropped 0.7%, and the Nasdaq tumbled 1.3%.

Oil prices rise again

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have another positive session on Wednesday after oil prices rose again overnight. According to Bloomberg, the WTI crude oil price is up 0.8% to US$85.20 a barrel and the Brent crude oil price is up 0.3% to US$91.14 a barrel. Fading US-Iran peace deal hopes were behind this.

CSL shares rated hold

In response to its results on Tuesday, Bell Potter has retained its hold rating on CSL Ltd (ASX: CSL) shares with an improved price target of $150.00 (from $120.00). It said: "Based on the new underlying NPAT metric, CSL trades on a PE multiple of ~19x FY26 and ~18x FY27 earnings, with flat revenue growth and low-to-mid single digit earnings growth expected for FY27. While the result today suggests the worst (by way of earnings declines) is in the rear-view for CSL, we find it difficult to justify a greater premium than is now being attributed relative to global biopharma peers."

Gold price tumbles

ASX 200 gold shares such as Westgold Resources Ltd (ASX: WGX) and Northern Star Resources Ltd (ASX: NST) could have a poor session on Wednesday after the gold price tumbled. According to CNBC, the gold futures price is down 1.8% to US$4,394 an ounce. Traders were selling gold after bond yields surged to their highest levels in decades.

More ASX 200 results

Another group of ASX 200 shares are releasing their results on Wednesday and will be on watch. This includes gold miner Evolution Mining Ltd (ASX: EVN), mineral sands producer Iluka Resources Ltd (ASX: ILU), lotteries company Lottery Corporation Ltd (ASX: TLC), energy giant Santos, and coal miner Whitehaven Coal Ltd (ASX: WHC).

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

Brokers have reduced their ratings on many ASX 200 shares this week.

Let's take a look at their new ratings and 12-month share price targets.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is $157.90, down 3.6% today.

Over the past 12 months, this ASX 200 mining share has climbed 47%.

Morgan Stanley downgraded Rio Tinto shares to a sell rating today.

The broker has a 12-month price target of $149.

This implies a potential 5% downside ahead.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is $10.15, down 3.6% today.

Magellan was one of the top 5 ASX 200 financial shares for capital growth in FY26, rising 13%.

The highlight of the year was Magellan's proposed merger with boutique investment bank, Barrenjoey Capital Partners.

Magellan and Barrenjoey completed the merger on 1 July. 

Morgans downgraded Magellan shares to a hold rating on Monday.

The broker lifted its 12-month price target slightly from $11.19 to $11.29.

This implies a potential 11% upside ahead.

Magellan will ask shareholders to vote on a company rebrand to Barrenjoey Group at the AGM in October.

Lottery Corporation Ltd (ASX: TLC)

The Lottery Corporation share price is $5.48, up 0.2% today.

This ASX 200 consumer discretionary share has risen 2.1% over the past year.

Citi downgraded the stock to a sell rating with a $5 target this week.

This indicates a possible 8% decline ahead.

Transurban Group (ASX: TCL)

The Transurban share price is $14.69, up 0.2% today.

This ASX 200 industrials share has risen 9.5% over 12 months.

UBS downgraded Transurban shares to a hold rating with a $14.50 target.

This suggests a potential 1% downside ahead.

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is $11.01, down 3.7% today.

This ASX 200 gold share has stormed 51% higher over the past year.

Macquarie downgraded Evolution shares to a hold rating yesterday.

The broker lowered its 12-month price target from $13 to $12.

This suggests potential capital growth of 8% over the next year. 

Worley Ltd (ASX: WOR)

The Worley share price is $10.78, up 0.5% today.

This ASX 200 industrials share has tumbled 18% over the past 12 months.

Ord Minnett downgraded Worley shares from accumulate to hold with a $12.70 target on Wednesday.

This still implies a potential 18% upside ahead.

The broker said:

There remains considerable uncertainty over short-term earnings for Worley and its peers.

More broadly, we highlight the change in Worley's business mix, with a modest shift to engineering, procurement and construction (EPC) work, i.e. larger developments and responsibility for full project delivery, a business segment that is higher risk than traditional consultancy and advisory.

Judo Capital Holdings Ltd (ASX: JDO)

The Judo share price is 89 cents, up 0.2% today.

Judo shares were sold off in June after the bank downgraded its profit guidance.

Ord Minnett downgraded Judo shares from a buy to a hold rating yesterday.

The broker slashed its 12-month price target from $2.40 to $1.60.

This implies a potential 80% upside ahead.

Ord Minnett commented:

We also cut our recommendation on Judo to Hold from Buy despite the apparent value on offer, given uncertainty around the company's processes and the time it will take for management to rebuild market confidence.

Pro Medicus Ltd (ASX: PME)

The Pro Medicus share price is $209.07, down 1.4% today.

Pro Medicus shares hit a 52-week low of $107.75 on 24 February. Since then, the ASX 200 healthcare share has ripped 94% higher.

Jefferies thinks the stock has overshot. The broker downgraded Pro Medicus shares to a hold rating yesterday.

The broker lifted its share price target substantially from $147 to $192.60.

But with Pro Medicus shares already trading well above that, the broker recommends investors sit tight.

Suncorp Group Ltd (ASX: SUN)

The Suncorp share price is $18.79, down 1% today.

This ASX 200 financial share has fallen 9.7% over 12 months.

Jarden downgraded Suncorp shares to a hold rating on Monday.

The broker raised its 12-month price target slightly from $19.10 to $19.60.

This implies a potential 4% upside ahead.

The post 9 ASX 200 shares downgraded by analysts this week appeared first on The Motley Fool Australia.

Meanwhile, the ASX 200 Index drifted 0.73% lower to finish at 8,764.2 points on Friday.

Economic data released last week suggests the Reserve Bank (RBA) may keep interest rates on hold for a while.

Unemployment fell 0.1% to to 4.4% and annual inflation dropped 0.2% to 4% in May, according to the Bureau of Statistics.

Commonwealth Bank of Australia (ASX: CBA) economist Ashwin Clarke said a 1.3% increase in household spending last month "surprised markets to the upside".

Analysts are pricing in an 81% chance that the RBA will keep interest rates on hold at the next meeting on 11 August.

This is why ASX 200 retail shares outperformed their peers last week.

Let's take a look at some individual company performances.

Consumer discretionary shares led the ASX sectors last week

The Wesfarmers Ltd (ASX: WES) share price rose 5.81% to finish at $90.74 on Friday.

Shares in gaming technology company Aristocrat Leisure Ltd (ASX: ALL) lifted 6.81% to $58.69.

The Lottery Corporation Ltd (ASX: TLC) share price rose 1.26% to $5.63.

The JB Hi-Fi Ltd (ASX: JBH) share price ascended 4.98% to $81.84 on Friday.

Guzman Y Gomez Ltd (ASX: GYG) shares increased 7.42% to $20.27.

Temple & Webster Group Ltd (ASX: TPW) shares ripped 8.64% to $6.16.

The Harvey Norman Holdings Ltd (ASX: HVN) share price rose 1.04% to $4.88.

Super Retail Group Ltd (ASX: SUL) shares finished the week steady at $13.12.

ASX 200 travel share Flight Centre Travel Group Ltd (ASX: FLT) managed a 0.52% lift to $11.99.

Shares in Premier Investments Ltd (ASX: PMV) rose 2.45% to $14.65.

Myer Holdings Ltd (ASX: MYR) shares rose 6.9% to close the week at 31 cents per share.

The Breville Group Ltd (ASX: BRG) share price inched 0.38% ahead to $31.43.

Not all ASX 200 retail shares followed the trend.

The Light & Wonder Inc (ASX: LNW) share price tumbled 13.68% to $110.78.

Eagers Automotive Ltd (ASX: APE) shares dropped 4.5% to $21.43 apiece.

Lovisa Holdings Ltd (ASX: LOV) shares eased 0.68% to $23.25.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

The post ASX 200 retail shares outperform on growing hopes interest rates have peaked appeared first on The Motley Fool Australia.

Trading Economics analysts say there are signs of progress from talks between American and Iranian officials in Switzerland.

The analysts said:

In a key development, Washington granted Iran a 60-day license to sell oil on international markets, raising expectations of a quicker recovery in global supply.

Traffic through the Strait of Hormuz has also picked up, with producers including Kuwait and the United Arab Emirates finding alternative routes to export energy, while Iran shipped more than 30 million barrels over the past week. 

Meanwhile, two experts give us their views on three ASX shares.

Let's check them out. 

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is $11.85, down 0.75% today and down 21% in the calendar year to date (YTD). 

Belinda Moore from Morgans has a buy rating on this ASX 200 consumer discretionary share. 

Moore was not surprised after the company downgraded its guidance because of the Iran war.

Due to strong cash reserves and a depressed share price, Flight Centre also announced a new buyback of up to $200 million.

Moore said: 

Given recent downgrades from other travel industry peers due to the conflict in the Middle East, FLT's downgrade wasn't a surprise.

While a peace agreement and eased travel restrictions are positive, we think 1H27 will still be challenging.

We forecast a strong recovery in 2H27. If it wasn't for this conflict, FLT would have had a great year given its results for the first nine months were strong.

We are buyers of FLT because when operating conditions ultimately improve, both its earnings and share price will be materially higher.

Lottery Corporation Ltd (ASX: TLC)

The Lottery Corporation share price is $5.55, down 0.2% today and up 7% YTD. 

Toby Grimm from Baker Young has a hold rating on Lottery Corporation shares.

On The Bull this week, Grimm explained:

Securing a 40-year extension as Victoria's exclusive lottery operator adds certainty given the importance of the contract and its longer than expected duration.

However, operating performance has been subdued amid challenging consumer conditions and unfavourable jackpot outcomes.

The company continues to identify cost savings, which will help fund digital investment.

The stock is trading at fair value, but we believe the stock appeals in the longer term, supported by a fully franked dividend yield.

Supply Network Ltd (ASX: SNL)

The Supply Network share price is $32.74, down 0.6% today and up 2% YTD. 

Grimm has a sell rating on this ASX 300 consumer discretionary share. 

He said: 

The truck and bus parts supplier has built a leading position in an industry benefiting from an ageing fleet on our roads. Group sales revenue of $200.1 million in the first half of 2026 was up 16.9 per cent on the prior corresponding period.

However, in our view, the stock screens as expensive given it was recently trading on about 33 times estimated earnings in 2026.

Current fuel price uncertainties present another challenge and may impact freight demand in the near term.

The post Buy, hold, sell: Flight Centre, Supply Network, Lottery Corporation shares appeared first on The Motley Fool Australia.

Consumer staples shares weren't far behind, surging 7.62%.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) rose 2.07% to 8,804 points by Friday's close.

Experts are now predicting an eventual cut for interest rates due to crumbling consumer confidence and low GDP growth.

Consumer sentiment fell in May to one of its weakest levels ever in the 50-year history of the benchmark monthly survey.

Softer-than-expected inflation also enhances the case for rates to be kept on hold or cut at some point.

Annual headline inflation fell to 4.2% in April, down from 4.6% in March, according to Bureau of Statistics figures.

On Friday, the ASX 200 rallied 1.98% after US President Donald Trump said a peace deal with Iran could be reached this weekend.

This would likely lead to the reopening of the Strait of Hormuz, a vital shipping route that carries 20% of the world's oil and gas.

The ongoing oil shock has contributed to resurgent inflation and three interest rate increases in Australia this year.

The Reserve Bank will announce the next interest rate decision on Tuesday.

It may seem counterintuitive that signs of economic weakness boosted ASX 200 retail shares last week.

But remember, share markets tend to look six to 12 months into the future.

Thus, economic weakness today is pushing retail stocks up as investors anticipate a greater likelihood of interest rate cuts.

Let's see how some individual retail stocks performed last week.

Consumer discretionary shares led the ASX sectors last week

The Wesfarmers Ltd (ASX: WES) share price leapt 9.55% over the short trading week to finish at $86.47.

Shares in gaming technology company Aristocrat Leisure Ltd (ASX: ALL) rose 5.07% to $53.91.

The Lottery Corporation Ltd (ASX: TLC) share price soared 8.81% to $5.68.

The Light & Wonder Inc (ASX: LNW) share price ripped 9.8% higher to $127.26.

JB Hi-Fi Ltd (ASX: JBH) shares ascended 7.6% to finish the week at $77.24.

The Harvey Norman Holdings Ltd (ASX: HVN) share price increased 7.88% to $4.79.

Temple & Webster Group Ltd (ASX: TPW) shares soared 13.09% to $5.27.

The Nick Scali Limited (ASX: NCK) share price rocketed 11.71% to $15.46.

Eagers Automotive Ltd (ASX: APE) shares rose 7.06% to $22.29.

The Super Retail Group Ltd (ASX: SUL) share price lifted 8.39% to $12.27.

Lovisa Holdings Ltd (ASX: LOV) shares surged 8.66% to $22.20 apiece.

ASX 200 travel share Flight Centre Travel Group Ltd (ASX: FLT) edged 0.36% higher to $11.07.

The Guzman Y Gomez Ltd (ASX: GYG) share price lifted 3.63% to $19.40.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the shortened trading week:

The post Why did ASX 200 retail shares outperform last week? appeared first on The Motley Fool Australia.

Let's see if the broker is bullish or bearish on these names. Here's what it is saying:

G50 Corp Ltd (ASX: G50)

Morgans has initiated coverage on this mineral exploration company's shares with a speculative buy rating and $2.14 price target.

The broker likes G50 due to its exposure to exposure to gold, silver, and critical metals. It notes the latter are becoming increasingly important for semiconductor, AI, and defence related supply chains.

Commenting on the stock, Morgans said:

We initiate coverage on G50 Corp with a SPECULATIVE BUY rating and price target of A$2.14ps. A US-centric asset portfolio (Golconda and White Caps) provides growing exposure to both precious metals (gold and silver) and critical metals gallium and antimony, both of which are being increasingly recognised as strategic commodities by the US given their importance across semiconductor, AI and defence related supply chains.

Lottery Corporation Ltd (ASX: TLC)

The team at Morgans is feeling positive about this lotteries company. However, not quite enough for a buy recommendation. It has put an accumulate rating and slightly trimmed price target of $5.90 on Lottery Corp's shares.

The broker highlights that its investor day event revealed how management is resetting the business and reframing its growth potential. It also likes how licences covering 90% of lotteries turnover are now secured until at least 2050. Morgans explains:

The Lottery Corporation's (TLC) Investor Day in Sydney highlighted two key areas: resetting the operating model and reframing how the market should think about TLC's growth potential. Three standalone business verticals (Lotteries, Digital, Keno) will replace the prior structure from 1 July, generating ~$10m of annualised savings on a full run-rate basis, which will be reinvested into digital capability, AI and product development.

No medium-term financial targets were provided. Importantly, the VIC licence extension to 2068 means that over 90% of lotteries turnover is now licenced until at least 2050. Near-term opex guidance was trimmed $10m at the midpoint and all existing guidance was reaffirmed.

Treasury Wine Estates Ltd (ASX: TWE)

Morgans was pleased with this wine giant's investor day update. As well as its performance continuing to improve, the broker was pleased with Treasury Wine's transformation program.

This has seen Morgans upgrade its earnings estimates and reaffirm its buy rating with a new $5.95 price target. It commented:

TWE's Investor Day was the positive share price catalyst we were expecting. Solid depletions growth continues and the mid-point of FY26 EBITS guidance was slightly ahead of consensus estimates. Importantly, Ascent or TWE's transformation program is expected to deliver sustainable, high-quality earnings growth and deleverage the balance sheet over the medium to long term.

We have upgraded our FY27 and FY28 forecasts. Given TWE's low trading multiples and our belief that new management can deliver more acceptable returns overtime, we reiterate our BUY recommendation with a new A$5.95 price target.

The post Buy, hold, sell: G50, Lottery Corp, and Treasury Wine shares appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) rose 0.86% amid volatile trading to 8,731.7 points by Friday's close.

There was a strong 1.62% rally on Friday on fresh hopes of an imminent deal between the US and Iran.

Meanwhile, softer-than-expected inflation data on Wednesday quelled fears of further interest rate hikes ahead.

Annual headline inflation fell to 4.2% in April, down from 4.6% in March, according to the Australian Bureau of Statistics.

That's why consumer discretionary shares outperformed their peers last week.

Let's take a look at some individual stock price movements.

Consumer discretionary shares led the ASX sectors last week

The Wesfarmers Ltd (ASX: WES) share price lifted 6.84% over the week to finish at $79.79.

The Lottery Corporation Ltd (ASX: TLC) share price rose 4.43% to $5.42.

The Light & Wonder Inc (ASX: LNW) share price ascended 1.68% to $116.73.

JB Hi-Fi Ltd (ASX: JBH) shares rose by 2.45% to finish the week at $74.49.

Shares in furniture retailer Harvey Norman Holdings Ltd (ASX: HVN) lifted 5.01% to $4.61.

Super Retail Group Ltd (ASX: SUL) shares rose 5.77% to $11.73 apiece.

Lovisa Holdings Ltd (ASX: LOV) shares increased 6.08% to close at $23.22.

ASX 200 travel stock Flight Centre Travel Group Ltd (ASX: FLT) ripped 9.08% to $10.93 per share.

Shares in Premier Investments Limited (ASX: PMV) zoomed 7% higher to $12.53.

Some ASX 200 retail shares did not follow the broader sector trend last week.

Eagers Automotive Ltd (ASX: APE) shares fell 2.61% to $20.89 apiece.

The Guzman Y Gomez Ltd (ASX: GYG) share price eased 0.76% to $19.66.

Shares in gaming technology company Aristocrat Leisure Ltd (ASX: ALL) dipped 0.63% to $50.10.

The Breville Group Ltd (ASX: BRG) share price moderated 0.21% to $28.94.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

The post Why did ASX 200 retail shares lead the market last week? appeared first on The Motley Fool Australia.

But not all dividend shares are created equal. The best income options usually have dependable earnings, strong market positions, and the ability to keep rewarding shareholders through different market conditions.

With that in mind, here are three ASX dividend shares that are rated as buys by analysts and could be worth a closer look.

Cedar Woods Properties Ltd (ASX: CWP)

Cedar Woods Properties is an ASX dividend share that could appeal to income investors.

The property developer has a diversified portfolio of residential communities, townhouses, apartments, and commercial projects across Australia. This gives it exposure to long-term demand for housing, particularly in markets where population growth and housing shortages remain important themes.

Bell Potter is bullish and expects Cedar Woods to pay dividends of 38 cents per share in FY 2026 and 41 cents per share in FY 2027. Based on its current share price of $6.84, this represents dividend yields of 5.5% and 6%, respectively.

The broker has a buy rating and $9.65 price target on its shares.

Lottery Corporation Ltd (ASX: TLC)

Another ASX dividend share that could be a top pick is Lottery Corporation.

It operates lotteries and Keno across Australia, giving it exposure to a highly cash-generative and relatively defensive form of consumer spending. While jackpot activity can influence short-term performance, lotteries have historically shown resilience through different economic conditions.

That defensive profile can be attractive for income investors. The company benefits from well-known brands, large customer reach, and exclusive or long-dated licences in key markets. These characteristics can support strong cash generation, which is important for dividends.

The team at UBS believes this will underpin fully franked dividends of 17 cents per share in FY 2026 and then 21 cents per share in FY 2027. Based on its current share price of $5.34, this would mean dividend yields of 3.2% and 3.9%, respectively.

UBS has a buy rating and $6.35 price target on its shares.

Telstra Group Ltd (ASX: TLS)

Telstra remains one of the most popular ASX dividend shares for income investors and it isn't hard to see why.

The telco giant has a defensive earnings profile, supported by millions of mobile, broadband, and enterprise customers across Australia. Its services are essential for households and businesses, which gives the company a level of resilience that many other businesses do not have.

The mobile division is the key growth driver. Telstra has the largest mobile network in Australia and continues to benefit from strong demand for data, connectivity, price increases, and premium network coverage. This has been supporting steady earnings growth and cash flow generation.

Morgan Stanley expects this to lead to franked dividends of 20 cents per share in FY 2026 and then 21 cents per share in FY 2027. Based on its current share price of $5.23, this represents dividend yields of 3.8% and 4%, respectively.

The broker has an overweight rating and $5.40 price target on its shares.

The post Why Telstra and these ASX dividend shares could be top buys for income appeared first on The Motley Fool Australia.

But which ones could be top buys in May?

Listed below are three ASX dividend shares that could be worth buying this month. Here's what you need to know about them:

Amcor plc (ASX: AMC)

The first ASX dividend share to look at is Amcor.

Amcor is a global packaging company that supplies flexible and rigid packaging products to customers across food, beverage, healthcare, personal care, and other consumer markets.

This gives the business exposure to everyday demand. Packaged food, medicine, and household goods continue moving through supply chains regardless of short-term market sentiment.

It is thanks to this that some analysts are expecting Amcor shares to offer dividend yields of more than 7% in both FY 2026 and FY 2027.

Rural Funds Group (ASX: RFF)

Another ASX dividend share worth looking at is Rural Funds Group.

It owns agricultural properties across Australia and leases them to operators in sectors such as cattle, cropping, almonds, macadamias, and vineyards.

The appeal here is the nature of the company's assets. Farmland is a real asset tied to long-term demand for food and agricultural production. Rental income can also provide a clearer earnings stream than direct exposure to farm operating conditions.

Rural Funds still faces risks from interest rates, weather conditions, and tenant performance. But its portfolio gives income investors access to a part of the property market that looks very different from offices, shopping centres, or warehouses.

Its shares are expected to offer dividend yields of around 6% in FY 2026 and FY 2027.

Lottery Corporation Ltd (ASX: TLC)

A third ASX dividend share that could appeal is Lottery Corporation.

The company operates lottery and keno licences across much of Australia. These licences provide exposure to a large, regulated market with strong brand recognition and recurring customer activity.

Lottery earnings can be influenced by jackpot cycles, but the business has a cash-generative model and limited capital intensity compared with many other industries.

This can support dividends over time, particularly when trading conditions are favourable.

For income investors seeking exposure outside the usual sectors, Lottery Corporation offers a dividend stream backed by a defensive and highly cash-generative business model.

It is expected to offer dividend yields of 3.2% in FY 2026 and then 3.7% in FY 2027.

The post 3 excellent ASX dividend shares for income investors to buy in May appeared first on The Motley Fool Australia.

Every one of the 11 market sectors is in the red today.

Losses range from 0.03% for the ASX communications sector to 2.47% for property shares.

The world is waiting for Iran's response to a US peace plan that would end the war and reopen the Strait of Hormuz.

Meanwhile, brokers have indicated new confidence in several ASX 200 shares with rating upgrades this week.

Let's take a look.

Lottery Corporation Ltd (ASX: TLC)

The Lottery Corporation share price is $5.33, down 0.5% today.

This ASX 200 consumer discretionary share has risen 2% in the year to date (YTD).

Morgans upgraded Lottery Corporation shares from hold to accumulate yesterday.

The broker raised its 12-month price target from $5.70 to $6, suggesting 12% upside from here.

Morgans said:

The Lottery Corporation (TLC) has secured a 40-year extension of its Victorian Public Lottery Licence to 30 June 2068, paying a $1.145bn upfront premium funded entirely by debt.

The duration and timing of the renewal was a mild surprise given the licence was historically offered on 10-year terms and wasn't expiring until June 2028.

We view the deal as strategically positive, but near-term earnings absorb the cost. 

Light & Wonder Inc (ASX: LNW)

The Light & Wonder share price is $110.18, up 7.3% today.

Over the past month, this ASX 200 gaming share has fallen 13%.

Morgans upgraded Light & Wonder shares to a buy rating yesterday.

The broker shaved its 12-month price target from $140 to $138.

This implies a healthy potential 25% upside ahead.

ANZ Group Holdings Ltd (ASX: ANZ)

The ANZ share price is $36.87, down 1.3% today.

Over the past month, this ASX 200 bank share has fallen 3.8%.

Morgans upgraded ANZ shares from a sell to trim rating this week.

The broker lifted its 12-month price target by 4% to $31.85.

This suggests a potential 13% downside ahead.

After reviewing the bank's 1H FY26 results, Morgans said:

1H26 revenues were flat on an underlying basis, but cost decline and credit impairment charges were better than expected.

Target price increased 4% to $31.85/sh, given 3-6% earnings upgrades and decision to recommence neutralising the DRP.

National Australia Bank Ltd (ASX: NAB)

The NAB share price is $38.53, down 2.5% today.

Over the past month, this ASX 200 financial share has fallen 13.5%.

Morgans upgraded NAB shares from a sell to a trim rating this week.

The broker lifted its 12-month price target by 4% to $36.10.

This implies a potential 6% moderation ahead.

Morgans said 1H FY26 earnings "were a mixed bag and a touch below expectations".

Westpac Banking Corp (ASX: WBC)

The Westpac share price is $37.84, down 1.9% for multiple reasons on Friday.

Over the past month, this ASX 200 bank share has fallen 9.8%.

Morgans upgraded Westpac shares from a sell to a trim rating this week.

The broker cut its price target by 3% to $33.07, implying a 13% fall ahead.

Morgans commented on Westpac's 1H FY26 results:

Strong volume momentum but earnings leverage dissipated with margin compression and credit risk pressures.

TechnologyOne Ltd (ASX: TNE)

The TechnologyOne share price is $28.37, up 3.4% on Friday.

Over the past month, this ASX 200 tech share has fallen 3.6%.

Bell Potter upgraded TechnologyOne shares to a buy rating yesterday.

The broker raised its 12-month price target from $31 to $31.75, suggesting 12% upside ahead.

Atlas Arteria Ltd (ASX: ALX)

The Atlas Arteria share price is $4.80, down 0.1% today.

This ASX 200 industrials stock surged recently on news of a hostile takeover bid from IFM Investors.

Atlas Arteria's independent directors have recommended that investors reject the $4.75 per share offer.

Morgans upgraded Atlas Arteria shares from trim to hold this week.

The broker said:

ALX recommended its investors ignore IFM's hostile off-market takeover bid, citing the offer price as too low, the timing opportunistic, and the offer highly conditional. It also disclosed it initiated a sale process for its interest in Chicago Skyway which, if successful, could be value accretive (at least to our valuation).

While the Chicago Skyway divestment process is underway we moderate our rating from TRIM to HOLD given potential for value realisation above what we consider to be the intrinsic value of the asset and hence driving our ALX valuation up close to where the share price is currently trading.

Morgans has a share price target of $4.22 on the toll roads operator.

This suggests a 12% downside from here.

The post 7 ASX 200 shares just upgraded this week appeared first on The Motley Fool Australia.

Meanwhile, brokers have lowered their ratings on five ASX 200 shares this week.

Let's take a look.

Lottery Corporation Ltd (ASX: TLC)

The Lottery Corporation share price finished yesterday's session at $5.35, up 1.1%.

This ASX 200 consumer discretionary share has risen 2.9% in the year to date (YTD).

Morgan Stanley downgraded Lottery Corporation shares to a hold rating this week.

The broker has a 12-month price target of $5.70, implying a 7% upside from here.

Sigma Healthcare Ltd (ASX: SIG) 

The Sigma Healthcare share price finished Thursday's session at $2.89, down 1%.

Sigma Healthcare shares have risen 8.2% over the past month.

Morgans downgraded the ASX 200 healthcare share from buy to accumulate this week.

This means Morgans is still positive on the stock, but it says recent share price strength has necessitated a moderated rating.

SIG has provided a solid trading update to 30 April (domestic) and to 31 March (international), noting continuing GLP-1s tailwinds.

SIG continues its international expansion with entry into the UK market and expanding distribution capacity in New Zealand.

We have made minor upgrades to forecasts however a higher risk-free rate sees our valuation reduce modestly to A$3.30 (was $3.36).

The broker's target price implies a potential 14% capital gain over the next year.

Coles Group Ltd (ASX: COL)

The Coles share price closed at $21.81, up 0.4%, on Thursday.

This ASX 200 consumer staples share has fallen 2.5% over six months.

Bell Potter downgraded Coles shares from buy to hold this week.

The broker raised its price target from $22.35 to $22.80, suggesting a 4.5% upside from here.

Bell Potter said:

The shortfall between retail shelf price inflation and underlying food inflation in both Woolworths Group Ltd (ASX: WOW) and COL has widened in the recent quarter.

The competitive backdrop appears to be lifting and liquor remains challenged in a rising cost environment.

Trading a discount to WOW, there is a relative value argument to be made, particularly given the more limited exposure to discretionary channels in the near term, however we see more compelling GARP opportunities elsewhere in the consumer staples space at this juncture.

Imdex Ltd (ASX: IMD)

The Imdex share price closed at $3.94 yesterday, down 11.1%.

Over the past year, this ASX 200 materials share has lifted 45%.

Imdex develops cloud-connected devices and drilling optimisation products for the mining sector.

Jefferies downgraded Imdex shares to a hold rating on Wednesday.

The broker lifted its price target from $4.25 to $4.80, implying a 22% upside from here.

Dalrymple Bay Infrastructure Ltd (ASX: DBI)

The Dalrymple Bay Infrastructure share price closed at $5.27 on Thursday, down 3%.

Over the past six months, this ASX 200 industrials share has leapt 22%.

Morgans downgraded Dalrymple Bay Infrastructure shares to a hold rating this week.

The change was largely due to a 17% share price surge since March.

The broker explained:

DBI's share price has increased c.17% since our high conviction upgrade of the stock's rating in March. We moderate from BUY to HOLD, given 12 month potential total return has compressed to c.3%.

Next key event is this month's AGM. We expect DBI to provide new DPS guidance for the next 12 months at or around that time and target 29.5cps.

The broker shaved its price target to $5.31, implying virtually no upside ahead.

Dalrymple Bay Infrastructure will host its AGM on Wednesday 20 May in Brisbane.

The post 5 ASX 200 shares downgraded by experts this week appeared first on The Motley Fool Australia.

Does it rate them as buys, holds, or sells? Here's what you need to know:

Imdex Ltd (ASX: IMD)

Morgans was pleased with this mining technology company's performance during the third quarter.

In response, the broker has retained its buy rating on Imdex shares with an improved price target of $5.00. It said:

The 3Q update was strong with constant FX organic revenue growth of +26% YoY. While we pare back our FY26 revenue forecast slightly on FX, we make negligible changes to our EBITDA forecast ($164m +3% vs VA consensus $160m) as mix benefits offset the lower revenue. For FY27-28, we increase our earnings forecasts on confirmation of strong volume growth and recent capital markets activity. While we see capacity for a slight beat in August, in our view, outer year upgrades will be the key driver of the share price from here.

JB Hi-Fi Ltd (ASX: JBH)

This retail giant delivered a "resilient" trading update according to Morgans.

However, it highlights that management appears somewhat cautious ahead of the important end of financial year (EOFY) period.

In response, the broker has retained its accumulate rating with a trimmed price target of $82.90. It said:

JBH provided a solid 3Q26 sales trading update, showing the ongoing resilience in demand for its product categories. Management did caution going into one of the key trading periods (EOFY), that they were seeing supplier component costs increases, stock availability shortages and ongoing heightened competitive activity. We see this as likely reflecting potential margin pressure in the 4Q. We have made minor revisions to earnings (<1%), and our valuation lowers to $82.90 (from $83.50). We maintain our ACCUMULATE recommendation.

Lottery Corporation Ltd (ASX: TLC)

Morgans was pleased to see this lotteries company secure a mammoth 40-year extension to its Victorian Public Lottery Licence.

It believes the deal is strategically positive but acknowledges that the debt taken on to pay for it will weigh on its earnings.

Nevertheless, the broker has upgraded Lottery Corp's shares to an accumulate rating with an improved price target of $6.00. It said:

The Lottery Corporation (TLC) has secured a 40-year extension of its Victorian Public Lottery Licence to 30 June 2068, paying a $1.145bn upfront premium funded entirely by debt. The duration and timing of the renewal was a mild surprise given the licence was historically offered on 10-year terms and wasn't expiring until June 2028.

We view the deal as strategically positive, but near-term earnings absorb the cost. Higher D&A and interest from the new debt drag our FY26/27/28F EPS estimates down 3%/13%/15% respectively, partially offset by a beta reduction reflecting materially lower licence renewal risk.

The post What is Morgans saying about Imdex, JB Hi-Fi, and Lottery Corp shares? appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are named below. Here's why they are falling:

JB Hi-Fi Ltd (ASX: JBH)

The JB Hi-Fi share price is down over 7% to $72.12. This follows the release of a sales update from the retail giant this morning. The company revealed that JB Hi-Fi Australia total sales rose 4% and The Good Guys sales lifted 2.5% for the third quarter. However, while this was strong, comments from CEO Nick Wells appear to have spooked investors. He said: "As we enter the important end of financial year trading period, in the technology categories we are seeing significant supplier component related cost increases and stock availability shortages, along with heightened competitive activity."

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is down 6% to $9.03. This fund manager's shares have come under pressure this week after announcing sweeping changes to its global fund. This includes management fees being cut from 1.35% to 0.89% per annum and performance fees being removed. In addition, management of the Magellan Global Fund and Magellan Global Fund Hedged will change to Vinva Investment Management. Magellan's CEO, Sophia Rahmani, said: "We have carefully considered this decision and are prioritising client outcomes whilst at the same time positioning Magellan for long-term growth, with an attractive core global equities offering."

Lottery Corporation Ltd (ASX: TLC)

The Lottery Corporation share price is down 5.5% to $5.26. This appears to have been driven by a broker note out of Morgan Stanley this morning. According to the note, the broker has downgraded the lotteries company's shares to an equal-weight rating with a $5.70 price target. Morgan Stanley made the move partly on the belief that second-half trading has been softer than expected due to weaker jackpot activity.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside Energy share price is down 2% to $32.02. Investors have been selling Woodside shares following a pullback in oil prices. This has been triggered by optimism that the US and Iran could be close to signing a peace deal. It isn't just Woodside that is falling today. The S&P/ASX 200 Energy index is down 1.7% at the time of writing.

The post Why JB Hi-Fi, Magellan, Lottery Corp, and Woodside shares are falling today appeared first on The Motley Fool Australia.

What did Lottery Corporation report?

• Secured 40-year extension for the Victorian Public Lottery Licence, now expiring 30 June 2068
• $1,145 million upfront premium payment for the licence, fully funded by new and existing debt
• No major lottery licence renewal required until 2050 (NSW)
• Dividend policy changing from 80–100% of NPAT to 80–100% of NPATA from FY27
• Pro forma leverage expected at upper end of 3–4x target range following payment

What else do investors need to know?

Lottery Corporation has held the Victorian licence since 1954, traditionally in 10-year increments. This early 40-year extension aligns the term with major state licences elsewhere in Australia, providing long-term security for the company's national lotteries footprint.

The payment for the extension will be made in two instalments from existing cash and new debt, and the company is confident it will retain a strong investment-grade credit rating. Small business lottery retailers in Victoria will benefit from a 10-year extension of retail agreements and updates to their systems, further strengthening the retail network.

What did Lottery Corporation management say?

CEO Wayne Pickup, said:

The Lottery Corporation is delighted to have agreed an extension of the Public Lottery Licence with the State, securing our future in Victoria through to 2068. The 40-year extension strengthens our national licence portfolio and will help shape the next chapter of the Company's growth. The longer term extension also significantly lowers the risk profile of the business and secures our position as the national lottery operator, with our next major lottery licence renewal now not until 2050.

Typically, almost one in two adult Victorians play our lottery games each year – some of which are among Australia's most recognised and iconic brands. Today's licence extension allows The Lottery Corporation to continue to responsibly deliver safe, engaging and sustainable entertainment to Victorians for many years to come, while supporting a vibrant lottery retail network underpinned by small businesses, and generating material lottery duty revenue to fund state and community services.

What's next for Lottery Corporation?

Looking ahead, Lottery Corporation plans to maintain steady operations under its expanded long-term licence footprint. The upcoming change to a more cash-based dividend payout ratio is designed to provide shareholders with consistent, reliable returns while keeping leverage in check.

The company will also explore long-term debt funding and continue to focus on strengthening its product range and retail network, taking advantage of the security and certainty delivered by the Victorian licence extension.

Lottery Corporation share price snapshot

Over the past 12 months, Lottery Corporation shares have risen 5%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 7% over the same period.

View Original Announcement

The post Lottery Corporation secures 40-year Victorian lottery licence extension appeared first on The Motley Fool Australia.

Fortunately, there are lots of businesses on the share market that generate consistent cash flow and return part of that to shareholders as dividends.

To narrow things down, I have picked out five ASX dividend shares I would look at for income.

Rural Funds Group (ASX: RFF)

Rural Funds is an ASX dividend share I'd buy for a second income in April. It owns agricultural assets across areas like almonds, cattle, and vineyards.

Its income is supported by long-term leases with operators, which helps provide visibility over earnings and distributions.

That structure is what stands out to me. It creates a steady income stream that can support consistent payouts over time.

HomeCo Daily Needs REIT (ASX: HDN)

Another share to look at is HomeCo Daily Needs REIT. This property company focuses on convenience-based retail, including supermarkets and everyday services.

These are the types of assets that tend to see consistent foot traffic, which supports rental income.

For income investors, that stability can be appealing, especially when combined with a relatively attractive yield.

Harvey Norman Holdings Ltd (ASX: HVN)

Harvey Norman offers a different type of income profile.

It operates in retail, which can move with the cycle, though it also has a large property portfolio backing the business.

That combination can support dividends over time, with the added benefit of potential upside if conditions improve.

Woolworths Group Ltd (ASX: WOW)

I think Woolworths is one of the most stable names on the ASX.

Its core supermarket business generates consistent cash flow, supported by demand that holds up across different conditions.

That tends to translate into reliable and growing dividends, which is what I would look for in a second income portfolio.

Lottery Corporation Ltd (ASX: TLC)

Lottery Corporation rounds things out with another defensive income stream.

Its earnings are supported by demand for lotteries that tends to remain steady whatever is happening in the economy, which helps underpin regular and growing dividends.

Including a business like this can add balance alongside more cyclical income names.

Foolish takeaway

A second income from ASX shares comes back to owning businesses that can keep generating cash and paying dividends over time.

These five companies operate in different areas, though each offers exposure to income supported by underlying cash flow. That is what I would focus on when building a portfolio for a second income stream.

The post 5 ASX dividend shares I'd buy for a second income appeared first on The Motley Fool Australia.

At current levels, I don't see a lot of upside. The dividend is still there, but the starting point looks less attractive to me than it did a year ago.

That is why I would be looking elsewhere for income right now.

Here are three ASX dividend stocks I would buy instead.

Harvey Norman Holdings Ltd (ASX: HVN)

Harvey Norman slipped to a 52-week low this week, which is where it starts to get interesting.

Retail has been under pressure as interest rates rise, and that has weighed on the share price. But this is a business with a long track record and a strong brand in Australia and overseas.

What I like here is the asset backing. The company owns a large property portfolio, which adds another layer to the investment case beyond retail earnings.

At this lower share price, its dividend yield is forecast to be over 8% in FY27 according to CommSec, which is why I think it is worth a closer look for income-focused investors.

Nick Scali Ltd (ASX: NCK)

Nick Scali is down close to 40% from its 52-week high, reflecting concerns over softening conditions in the furniture retail market.

Even so, the business has been through these cycles before.

It has a focused model, strong margins, and a history of managing inventory and costs well. That tends to support profitability even when conditions are softer.

With the share price well below previous levels, I think its forecast 5% dividend yield (according to CommSec) and potential for a recovery make this one stand out.

Lottery Corporation Ltd (ASX: TLC)

Lottery Corporation offers something different as an ASX dividend stock.

It hasn't seen the same kind of pullback as the others, but it provides a steady income stream backed by a defensive business model.

Demand for lottery products tends to hold up well across different conditions, which supports consistent cash flow and dividends.

With a yield around 3%, it adds a level of stability to an income portfolio, which I think is worth having alongside more cyclical names.

Foolish takeaway

Westpac still offers income, but I think the current valuation leaves less room for upside.

These three ASX dividend stocks offer a different mix. Harvey Norman and Nick Scali bring recovery potential at lower share prices, while Lottery Corporation provides steady income backed by a more defensive model.

That balance is what I would be looking for right now.

The post Forget Westpac shares, I'd buy these ASX dividend stocks appeared first on The Motley Fool Australia.

While interest rates are rising, a number of shares continue to offer attractive dividend yields supported by stable cash flows and long-term contracts.

Here are three ASX dividend shares that could be worth considering.

APA Group (ASX: APA)

The first ASX dividend share that could appeal to income investors is APA Group.

It owns and operates a vast portfolio of energy infrastructure assets, including gas pipelines, storage facilities, and electricity transmission networks. These assets play a critical role in Australia's energy system.

A key strength of APA is its contracted revenue model. Much of its income is generated through long-term agreements with customers, which provides strong visibility over future cash flows.

This stability supports consistent dividend payments and has helped the company build a reputation as a reliable income stock.

With a yield above the market average and exposure to essential infrastructure, APA Group could be a solid option for income-focused investors.

Lottery Corporation Ltd (ASX: TLC)

Another ASX dividend share to consider is The Lottery Corporation.

It operates some of Australia's most recognisable lottery brands and generates revenue through ticket sales across its network.

What makes this business attractive is the defensive nature of its earnings. Lottery sales tend to be relatively stable across economic cycles, supported by consistent customer demand and strong brand recognition.

The company also benefits from high margins and a capital-light model, which allows it to generate strong cash flow.

This supports its ability to pay dividends, making it an appealing option for investors seeking income from a business with resilient earnings.

Transurban Group (ASX: TCL)

A final ASX dividend share that could be worth a look is Transurban Group.

It owns and operates toll roads across Australia and North America, generating revenue from millions of daily trips.

Its assets are underpinned by long-term agreements, often lasting decades, which provide strong visibility over future income.

In addition, toll prices typically increase annually, often linked to inflation. This can support steady revenue growth and underpin growing dividend payments over time.

With a dividend yield comfortably above the current cash rate and a portfolio of high-quality infrastructure assets, Transurban could be a top option for income investors.

The post 3 of the best ASX dividend shares for income investors to buy appeared first on The Motley Fool Australia.