Increase Monthly Income: 21,622 ASX Shares = $200 Extra!

Investing for passive income is a smart financial move, and the ASX dividend yield stock, Accent Group Ltd (ASX: AX1), has a proven track record of delivering consistent dividends to its shareholders. In this article, we will explore how Accent Group could be the key to unlocking a steady stream of passive income, potentially amounting to $2,400 per year or $200 per month.


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Diversification in Portfolio

Diversifying your investment portfolio is crucial for long-term financial success. Relying on a single business for all your income is risky. Here, we will delve into why Accent Group is a compelling option for income investors, highlighting its unique features that set it apart in the market.

Understanding Accent Group

Originally a wholesale distributor, Accent Group has evolved into a major player in the footwear industry. Representing renowned brands such as CAT, Dr Martens, Skechers, and more, the company operates over 800 stores globally and boasts a robust e-commerce presence. Learn more about the various brands under its umbrella, including The Athlete's Foot, Glue Store, Stylerunner, Nude Lucy, and Trybe.

The Dividend Landscape

Dividends are a key factor for income investors, and we will discuss how Accent Group manages its dividend payouts. Explore the factors influencing dividend changes, such as the company's profitability and the board of directors' decisions. Last year, the company paid a grossed-up dividend yield of 12%, and we'll examine projections for the FY24 dividend, expected to be around 7.7%, excluding franking credits.

Building a Passive Income Stream

Discover how Accent Group's dividend payments can translate into a consistent monthly income. We'll break down the numbers, demonstrating that an annual payout of $2,400 equates to $200 per month. To achieve this, we'll discuss the number of Accent shares needed and the additional benefits of franking credits, which can be advantageous for tax purposes.

Future Growth Prospects

While economic conditions may impact Accent's profit in FY24, we'll explore potential growth factors in the subsequent years. From recovering household finances to expanding the number of stores and brands, Accent Group could see a surge in earnings. Dive into forecasts suggesting a potential increase in earnings per share (EPS) to 16.6 cents by FY26, positioning the company favorably in the market.

Conclusion

In conclusion, Accent Group Ltd presents a promising opportunity for income investors looking to establish a reliable stream of passive income. Despite potential fluctuations in dividends, the company's growth prospects and diverse brand portfolio make it a noteworthy contender in the market.
Location: Australia

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