Top 5 ASX dividend stocks to watch in September 2026

Top 5 ASX dividend stocks to watch in September 2026

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Dividend-paying companies have long been popular with investors looking for regular income alongside the potential for long-term share price growth.Although no dividend is ever guaranteed, companies with strong cash flows and a history of rewarding shareholders often attract attention, particularly during periods of market uncertainty.

Australian shares have traditionally been known for offering attractive dividends, including sectors like banking, mining, telecommunications and infrastructure. As the 2026 reporting season unfolds, every announcement can play an important role in shaping market sentiment and influencing share prices.

If you’re looking for dividend stocks this September, it makes sense to look beyond dividend yield alone. A high yield can be appealing, but it is equally important to understand whether the business generates enough earnings and cash flow to support future payouts. Here’s a look at five top ASX stocks that may stand out for their dividend potential. Each company operates in a different part of the Australian economy, offering varying levels of income, growth prospects and exposure to changing market conditions.

APA Group (ASX: APA)

APA Group owns and operates a portfolio of energy infrastructure across mainland Australia valued at around AU$27 billion. The company operates more than 15,000 kilometres of gas transmission pipelines, alongside gas storage and processing facilities and renewable energy generation assets. Its network connects major supply basins with industrial, commercial and residential markets.

APA Group reported resilient underlying earnings for the first half of financial year (FY) 2026. Underlying EBITDA reached AU$1,092 million, rising 7.6% year-over-year, supported by inflation-linked tariff escalation and contributions from newly commissioned assets. Revenue increased 2% to AU$1,391 million, while free cash flow rose 0.7% to AU$556 million. APA Group maintained its FY26 distribution guidance at AU$0.58 per security.

APA Group is often viewed as a defensive infrastructure stock. More than 90% of its revenues are inflation-linked, helping provide greater visibility over cash flows and reducing direct exposure to commodity price fluctuations. The company is also investing in electricity transmission and other energy infrastructure, although higher capital expenditure and refinancing costs could weigh on returns if interest rates remain elevated.

APA Group paid an interim distribution of AU$0.275 per security on 18 March 2026, with an ex-distribution date of 30 December 2025.

Telstra Group Ltd (ASX: TLS)

Telstra Group Ltd is Australia’s largest telecommunications provider. The company supplies mobile, broadband, enterprise and digital services across the country. It holds dominant market shares in mobile subscriptions and network coverage, serving over 22 million consumer and business accounts.

Telstra delivered solid growth in the first half of FY26. Net profit after tax (NPAT) increased 8.1% year-on-year to AU$1.2 billion, while earnings per share rose 11% to 9.9 cents. Total income increased 0.2% to AU$11.8 billion, with the mobile business a key contributor to underlying earnings growth. Underlying EBITDAaL rose 5.5% to AU$4.2 billion, while the company maintained its FY26 guidance range of AU$8.2 billion to AU$8.4 billion.

Telstra subsequently reported its full-year FY26 results in August 2026, with NPAT rising 3.2% to AU$2.24 billion and revenue reaching approximately AU$23.4 billion. The company also forecast FY27 EBITDAaL of AU$8.5 billion to AU$8.8 billion and cash EBIT of AU$4.75 billion to AU$4.95 billion. Mobile remained a key growth driver, while the company continued to focus on infrastructure monetisation, cost management and its Connected Future 30 strategy.

Telstra Group’s last paid dividend was an interim dividend of AU$0.10 per share on 27 March 2026, with an ex-dividend date of 25 February 2026.

Woodside Energy Group Ltd (ASX: WDS)

Woodside Energy Group Ltd is one of Australia’s largest independent oil and gas producers and one of the top ASX stocks with a market cap of AU$62.6 billion as of the beginning of August 2026. Following its merger with BHP’s petroleum arm, Woodside operates a geographically diversified portfolio of liquefied natural gas (LNG), deepwater oil, and pipeline gas assets across Australia, North America, and West Africa.

Woodside delivered a stronger first half of 2026, with net profit after tax rising 7% to approximately US$1.33 billion. Revenue increased 13% to around US$7.45 billion, while the portfolio's average realised price rose to approximately US$74 per barrel of oil equivalent, supported by higher commodity prices. The company reaffirmed its 2026 production guidance at 174–185 million barrels of oil equivalent (MMboe) and maintained its 2026 capital expenditure guidance at US$4.0–4.5 billion.

Analysts monitor Woodside’s balance sheet closely as key growth projects move toward commercial execution. The Scarborough LNG project in Western Australia and the Trion project in Mexico require significant capital deployment through late 2026. While lower realised spot LNG prices might compress short-term margins, long-term contract pricing could support cash flow stability. Consensus forecasts indicate that Woodside is likely to maintain its high distribution payout policy, provided Brent crude prices remain above US$70 per barrel.

Woodside Energy Group last paid a final dividend of US$0.59 per share on 27 March 2026, with an ex-dividend date of 5 March 2026.

ANZ Group Holdings Ltd (ASX: ANZ)

ANZ Group Holdings Ltd ranks among Australia’s ‘Big Four’ banking institutions. The bank operates large retail and commercial banking businesses in Australia and New Zealand, along with an institutional banking unit with operations across the Asia-Pacific region.

ANZ reported its statutory profit at AU$3.65 billion for the first half of 2026, with cash profit of $3.78 billion, up 14% year-on-year. However, both its revenue of AU$10.8 billion and earnings per share (EPS) of AU$1.22 were below expectations. Cash profit increased 6% year-on-year, or 14% after adjusting for significant items in the prior corresponding period. Revenue was AU$11.2 billion, while cash earnings per share increased to 116.3 cents. ANZ proposed an interim dividend of 83 cents per share, with its Level 2 CET1 capital ratio at 12.39% as of 31 March 2026.

Analysts suggest that ANZ is better positioned than many of its domestic banking peers due to its exposure to institutional trade flows and regional markets. Expected credit losses remain near historical lows, although rising household debt service costs might need vigilant risk monitoring. Analysts also forecast modest dividend growth, supported by the company’s capital management strategies and potential off-market share buybacks.

ANZ Group last paid its 2026 interim dividend of AU$0.83 per ordinary share on 1 July 2026, with an ex-dividend date of 11 May 2026.

BHP Group Ltd (ASX: BHP)

BHP Group Ltd is the world's largest mining company by market cap. The company mines iron ore, copper, metallurgical coal and nickel from low-cost, long-life assets located primarily in Australia and South America. BHP is expanding its exposure to commodities, including copper and potash, in-line with the global energy transition.

BHP reported robust results for the first half of FY26. Its attributable profit grew 28% year-on-year to US$5.6 billion, while revenue was up 11% to US$27.9 billion. In addition, underlying EBITDA grew 25% with a strong 58% margin. Copper production increased 8% year-on-year, driven by operational improvements at Escondida and the integration of OZ Minerals assets.

Analysts see BHP as an important addition for income portfolios seeking commodity exposure. Demand from steel manufacturing and copper is expected to continue to support revenues. The Jansen potash project in Canada adds geographic and sector diversification, with Stage 1 production scheduled to begin in mid-2027. Analysts forecast the company’s EPS to grow at 6.18% annually in the medium term.

BHP Group’s last paid dividend was an interim payout of US$0.73 per share on 26 March 2026, with an ex-dividend date of 5 March 2026.

Trade dividend stocks with a regulated broker

Adding the top ASX stocks for their dividend yield can help you diversify your portfolio. Dividend stocks across energy infrastructure, telecommunications, resources and banking can further diversify your market exposure across sectors as well as market cycles. Experienced traders typically monitor earnings updates, capital expenditure commitments and broad macroeconomic shifts closely while trading Australian shares, especially those that offer dividends.

Apart from your own due diligence, choose a broker that offers institutional-grade infrastructure and responsive support. At FP Markets, we are committed to offering tight spreads, low-latency execution and prompt support, regardless of whether you are looking for passive dividend income or implementing short-term strategies. Open an account with FP Markets today to explore CFD trading options on the ASX 200 and individual Australian stocks.